When it comes to solar panels, some of the most common discussions are about saving money on your electric bill and doing your part to help the environment. More often than not, these conversations revolve around residential buildings because… well, more people own a home than they do an office building. Are you looking to go solar for an office building? If you say yes, you’d be happy to know that you’ll receive the same advantages as going solar at a residential building.
For many business owners, the question of whether or not to go solar may depend more on upfront costs, long-term cost savings, and being able to guarantee a positive ROI rather than a desire to help the environment. At the end of the day, it’s a business decision and that decision needs to be one that doesn’t negatively impact employees’ job status or productivity.
How Solar Panels Can Save Your Business Money
Businesses and residential properties differ in their energy consumption. While a home may sit empty for a large chunk of the day and produce low energy during the night while people sleep, office buildings see much more action.
Even when the building is empty for the night, there are still lots of electronics running constantly, from computers to air conditioners. Sure, the lights may be off, but energy is still being drawn from the grid to keep things operational through the night or weekend. And, of course, there are some businesses that operate outside of “traditional” hours and might be fully operational nearly 24/7! Finally, energy consumption amounts are different between a home and business. In your home, you may have some lights on, a TV or two running, and the air conditioner. For the most part, there won’t be more than a few people using plugged-in devices at any time. In an office building, there may be a handful or hundreds of people drawing energy from the grid at the same time.
With solar panels, your organization’s energy won’t be coming from the grid but from your own solar production. Depending on how much energy you’re able to produce and what your average usage is, your business may be able to drastically reduce its utility bill by producing all the energy it needs.
Initial Investment Costs For Solar Panels For Commercial Purposes
If you’re looking to reduce your business’s utility bills with solar energy, there are only two options for payment:
- to purchase the system outright.
- to sign on to a Power Purchase Agreement (PPA).
Solar loans aren’t available for corporate customers. It should also be noted that a Power Purchase Agreement (PPA) - while beneficial to the environment - still requires purchasing the energy from the solar company and therefore may not produce the most significant cost savings.
Therefore, when investing in solar, purchasing the system outright will give your business the most bang for its buck since you won’t need to pay anyone for the use of the energy you’re producing. You will still have to pay your utility for their standard, non-negotiable fees, but that’s generally tens of dollars per month, rather than potentially thousands.
Solar Panels Return On Investment For Commercial
According to EnergySage, businesses are often able to offset their utility bills by as much as 75% per month. The data they’re referencing is their marketplace data which takes into account both large enterprises and small businesses. As with many things, each business will have a unique set of circumstances that could lead to higher or lower average savings, but in general, a 75% reduction is definitely worth investigating!
Are you ready to learn more about how solar panels can help your commercial business and to get a free quote?