Business owners usually face a lot of expenses, including the overhead costs of utilities. Most of them rely on the electricity provided by the power grid in their areas which can be expensive at times. Unfortunately, this also means that if the electric company decides to increase its prices, the business owners will also have to pay for it.
A sudden price increase will mean that there may be uncertainties to the cash flow management of the business. The good thing is that many can cut the prices of what they are paying for their utilities with the help of solar panel PV installation. Partnering with specialists from sites like pvgeneration/commercial/ can help reduce their energy usage every month and even increase the value of their brands over time. Installations done by pros are generally customized, and you’ll only pay for the energy that you need.
Solar panels are quickly becoming popular in many businesses as alternative sources of electricity. Fortune 500 companies like Intel and Walmart are starting to switch and convert their buildings to be more receptive to solar power and this is a good thing.
At first, you might think that the initial investment is expensive for a small business. However, as time goes by, you will realize that they are more affordable, and you can save a lot of money when you choose solar panels. Since many companies are supplying them, solar panels have become affordable in recent years, and you can reap lots of benefits that they bring to your business.
If you ask if they are worth the investment and how your company can benefit from them, then know that you are on the right page. Here is some information that can help you decide.
Why Should You Finally Go for Solar Alternatives?
There are plenty of benefits when you decide to go solar. Aside from getting renewable energy from the sun, you will be able to get business tax credits and get ROI in just a short time. You can know more about solar panels on this site here.
Over the past few decades, the solar industry has matured, and this technology has become an affordable option to many people. They have become a reliable electrical system for those who need them. Others have them as economical back-ups when their primary provider undergo maintenance and blackout.
In terms of financial savings, many can attest that solar panels are worth it. There are reports that commercial business owners have paid at least $1900 before converting into solar energy. After the conversion was made, the companies have saved almost $500 per month. This is a considerable reduction, and this is one reason you should install these energy-efficient tools on your commercial property.
Advantages brought about by commercial energy systems are keeping up with the trends. Since owners are getting excellent payoffs such as incentives from the federal and state governments, they are more likely to continue using the solar panel PV or photo-voltaic module in the future.
This sector is currently alive with people who are interested in this. A report made by the Solar Energy Industries Association has stated that in 2017, almost 14.5 gigawatts were installed by many US businesses. This is compared to about 7.5 gigawatts in 2015.
However, despite a lot of people making leaps of faith concerning solar energies, the industry just currently accounts for 1% of the electricity production. More organizations that promote renewable energies believe that this can increase to 40% in the future.
Benefits to Know About
Deciding to do the conversion requires careful planning and deliberation. This is not a project that could be done overnight, and there is no need to rush. You need to evaluate and assess the area you’re in and look at your current energy supply.
Like any other investment, it is essential to consider the advantages and disadvantages. Learn more about the benefits of the sun’s energy in this link: https://www.investopedia.com/articles/investing/053015/pros-and-cons-solar-energy.asp. Know that this will be a long-term investment, and a return on investment will take time. Ultimately, the decision is in your hands, and you should only install them when you see the following advantages:
1. Cutting your Overhead Costs
Business owners want to save more each month, and one of their expensive overhead costs is electricity. Other overheads may include operational materials, workers’ wages, and many others. When managing a business, you must pay for the utilities, property maintenance, supplies, and insurance. If you’re thinking about installing solar panels, one of the overhead costs that you should consider is electric energy.
A consistent supply of electricity is essential for any business. Depending on where your store or office is located, the electric power you will be using is not just the lights and fixtures. You need to utilize your cooling and heating systems, machinery, and other essential appliances that are powered by electricity. Every electrical device you are buying will have its share of the bills, so the challenging part is to reduce your overhead costs when it comes to power.
Switching to solar panels is a massive step. When installed correctly, they can definitely decrease your electrical bills. As mentioned, the average small business operator can reduce their business overhead by about three-quarters of their previous bill, and this will continue for years to come.
When it comes to the conversion of solar power, it is essential to ask yourself whether you want to reduce your dependency on the current electrical grid in your area or you want to replace it altogether. Unless you have a generator that serves as a backup, you will still have to be connected to the commercial grid during the night so you can use your appliances.
However, regardless of how far you’re planning to take your solar conversion, know that you can still decrease your overhead costs and continue to benefit from the substantial savings.
There’s also reassurance present in solar power. When you consider yourself semi-sufficient or fully self-sufficient in solar power, you will not be affected much by inflation and billing spikes. You will not care about supply shortages and season costs increases because the solar panels will definitely help you.
2. Sustainability and Longevity of the Sun’s Energy
Many individuals are not actually aware that commercial electrical power is a kind of commodity. The electricity is usually bought and sold based on the current supply and demand. Drawing power from the grid will mean that you are also subjected to user rates and current prices in the market. The prices are unpredictable due to inflation, and you will not necessarily be protected from it.
Futurists may say that hydroelectricity should be the primary power source in some areas. However, this does not apply to the land where water supply is not accessible. An expansion means a possibility of flood to the cities, and this is not acceptable where land is valued a lot.
Some have predicted that the world will be less dependent on coal, fossil fuels, and gases. They will be more regulated to reduce their carbon footprint on the earth. However, this will also mean that the costs of fossil fuels will be passed on to consumers.
Alternate sources of electricity like nuclear plants are known to produce an uncertain future. They are incredibly volatile and can go off suddenly without warning. Most of the nuclear waste and destruction is not going to be worth it for future generations. This leaves the least untapped renewable source, which is solar power.
Many people believe that solar energy is durable and will last longer than others. The low overhead electrical production, maintenance, and renewable source translated into savings for commercial property owners. This contrasts with the bleak outcome of nuclear power generation and fossil fuels.
With the conversion of solar energy into electricity, one is essentially making a sound investment into the future of many people. This is compared to investors buying future markets and placing their bets that these will become big. Hedging your bets in solar power that is self-contained and renewable will give you several benefits, including the protection of your company’s future and lowering your overhead costs monthly.
