Solar Energy : A Hidden Asset to Increase Commercial Property Value
Solar panels for commercial use are a set of photovoltaic (PV) solar panels that turn sunlight into electricity. Commercial solar panels are a source of clean, renewable solar energy that requires minimal maintenance and emits no carbon dioxide, a global concern.
Switching to commercial solar panels for your company may have seemed risky to you as a business owner. You’ve probably heard about big companies like Walmart, Kohl’s, Costco, Apple, IKEA and others going solar, but you didn’t think it was feasible for your business. It’s past time to let go of that way of thinking. Many business owners are incorporating solar power into their operations and reaping the benefits. The amount of electricity produced by your solar solution is determined by the orientation of your roof and the amount of solar power needed to operate your house.
Solar power is no longer just for large businesses. Solar power has many advantages that businesses of all sizes should take advantage of. Solar energy has proven to be a strategic choice with numerous benefits for your business.
Building with high-quality solar panels for commercial property has more property value than one that depends on fossil fuels.
Solar energy system owners – your home’s property value has increased as a result of them! Homes with solar systems sell for more money than homes without them, according to a recent report by Lawrence Berkeley National Laboratory. Homes with solar panels sell for 4.1 percent more than comparable homes without them, according to a Zillow survey. Solar panels have the ability to raise the property value of commercial property.
Uncovering Commercial Property’s Secret Value
It’s no secret that commercial and industrial buildings have a big influence on how much energy we use. According to recent estimates, these types of structures account for 72 percent of all electricity consumed in the United States.
Building owners will reduce their electricity bill by 20% to 40% by converting to solar power, according to a 2018 study from the Solar Energy Industries Association. Property owners can increase their property value by changing the way they buy power as the economics of large-scale solar change and the business demand increases. Instead of leaving money on the table, property owners can increase the value of their commercial property by changing the way they buy power.
According to several reports, homes and commercial property with solar panels have higher property values and sell faster than those without. That isn’t going to change anytime soon. With the solar revolution gaining traction, adding commercial solar panels to your commercial might make it more appealing. Lowering your electric bills is a huge plus for any business owner.
If your commercial solar panels are installed and connected to the electricity grid, you’ll notice a reduction in your monthly energy bills. You’ll have more cash on hand once your panels are paid off because less money goes to the power company.
When a company embracing commercial solar power owns the site and the solar equipment being installed, the greatest possible value-add exists. Purchasing commercial solar equipment outright allows owners to take advantage of any available tax incentives, lower electricity costs, and the possibility of claiming renewable energy credits.
Commercial solar projects are not all created equal particularly when it comes to place. If you live in a place where there isn’t much sunshine for long periods of time during the year (or if your building sits in the shadow of a nearby mountain or forest tree line during peak sun hours), it would be difficult to argue that the value of your home would rise enough to justify solar as the best renewable energy option. Similarly, commercial solar may not be the best choice if your municipal policy prohibits net metering and/or you aren’t eligible for other financial incentives.
Solar Panels are Now More Affordable than they Have Ever Been –
Over the last decade, the cost of installing solar panels has dropped by more than 70%. As a result, the cost of installing solar panels has decreased. The federal Solar Investment Tax Credit (ITC), as well as state tax credits and cash rebates, all help to lower the cost of installing a solar panel.
High Validity and Low Maintaining –
Solar panels for commercial use are practically maintenance-free and silent. Commercial properties are usually designed in such a way that they are readily accessible. The solar cells are protected by tempered glass and non-corrosive aluminum frames. They’re made to withstand the elements and can withstand rain, hail, wind, and snow – pretty much any weather-related hazard. The photovoltaic cells that make up solar panels break down quite rarely in general.