In recent years, more businesses and homeowners than ever before have been pondering whether to make the switch to solar power. With technology advancing and money savings to be made, it can be an easy decision to make. However, before you contact your preferred solar power company, there are a few factors to consider first.
Financing Options
Given the costs associated with both the solar panels and their installation, it can be worth considering how you will finance such an investment in your business, such as solar PPA vs lease vs buy.
You may not realize it, but there are several different ways to finance solar power, including paying with cash, PACE loans if the solar installation is at your house, a prepaid solar lease, and a power purchase agreement. Some local governments are giving incentives to homeowners who decide to install solar panels. Get a free solar consultation at https://customenergy.solar/.
Not all options will be suitable for your needs, so it’s a good idea to look at each one and weigh the pros and cons. If you regularly look for ways to save on your taxes, it can also be worth finding out about the federal tax credits that may be available for businesses transitioning to solar power.
Property Value
If you are considering moving to solar power in a business you own or a building you rent out, think about whether they will add value above and beyond what you can save each month on your electricity bill.
Some studies have determined that homes with solar panels sell for more than those without, with a smaller study on business property valuations coming to the same conclusion. For property owners with tenants, you may be able to enjoy having long-term tenants who value lower electricity bills and a reputation for being an eco-friendly business owner.
Warranties and Maintenance
When you rely on the grid for your power needs, there isn’t a lot you need to worry about regarding maintenance. The power company takes care of most problems without your input.
You may be concerned that by switching to solar power, that might change. In reality, warranties and maintenance are part and parcel of most solar power deals, leaving you with very little to stress about.
Most solar panels come with a warranty covering up to 25 years, while inverters are typically guaranteed for between 10 and 25 years, depending on the make, model, and manufacturer. Even maintenance is taken care of, with expert solar technicians assisting with repairs, replacements, and general maintenance with minimal disruption to your business.
Power Outages
Power outages can cause any small or large business to lose thousands of dollars in a single day due to their reliance on electronics and technology. It’s only natural to think that if your solar panels cannot harness enough energy from the sun, you will run out of power.
The truth is that being connected to the grid and having solar power can mean that your business experiences fewer power outages than if it were only connected to the grid. If you don’t have enough solar power, your grid power kicks in. If there is an outage involving your grid power, solar power will keep everything running smoothly.
Even if solar power seems scary and new, it may be worth your consideration. From flexible finance options to easy maintenance and affordable energy bills, there are plenty of benefits your business can experience.
