How Much Money Can Businesses Save from Solar Panels
crowdmobsThe apparent advantage of installing PV solar rooftop panels is that it keeps the continuity of business during power interruptions. However, they are cost-effective and they provide many other economic advantages that you have to take note of. Some examples are cutting off overhead costs from electricity utility bills and they are essentially low maintenance. Not to mention, how solar panel installation can contribute to improving the value of your property which would be a good investment in the future. In this article, I will show a little more detail on the prospect of how much a business can save from investing in solar panels.
General Aspects of Investing in Solar Panels
Power Consumption
First and foremost, solar panels alleviate business owners' over-reliance on power from the gridlines. Depending on the size of the solar panels and covered area of the establishment, it can save you a lot of money and improve the profitability of your business. Let's take for instance a company or medium-scale business that consumes about 500,000 kWh annually. If the establishment happens to have installed solar panels that are capable of producing 400,000 kWh in a year, then it is estimated that the company is settling about $ 0.10 kilowatts per hour to the power companies. So it means the business is saving about $40,000 on electricity bills.
Current Electricity Cost
You have to bear in mind that electricity bills and savings are directly proportional to using solar panels to help you save corporate expenses. What this means is that you are avoiding the use of kilowatts per hour in your bills. Thus, the higher cost of the kilowatts per hour equals higher savings from the power consumption of solar energy. For example, if a company is consuming about $ 0.10 kilowatts per hour and the establishment has solar panels installed with a capacity of 10,000 kWh, then it is expected that they are saving about $1,200 kilowatts per hour.
Place of Installation
The place of installation of the solar panels also contributes to the capacity of the equipment to enhance the power consumption of the business. In line with this idea, the best area of the complex where solar panels are fully optimized is the rooftop as it is in direct exposure to the UV rays of the sun. You also have to select the PV panels that best fit the energy requirements of the vicinity. For example, a business with an area size of 20,000 square foot rooftops has a minimum energy requirement of about 200 kWh per PV panel. But to take advantage of the area completely, you have to avail solar panels that have the capability to generate 400 kWh per panel.
Property Investment
Most people are not aware that solar panels can actually be an accessory or extension to businesses that improve the value of the property. If you are renting the vicinity temporarily and planning to a permanent place of business or events of dissolution, the increase in property value can actually come in handy if you intend to sell the property for that matter.
Conclusion
Aside from the solar panel's ability to provide continuity of power and prevent inconveniences that affect business operations, they are highly cost-efficient despite the initial cost of the installation process. Some of the best examples of how solar panels can help you save money include the aspect of lower power consumption from the gridlines, a decrease in the electricity utility bills, and an increase in the value of their property. The bottom line is that they are good for business and a worthwhile investment especially if you are trying to improve profitability by cutting overhead costs.
