You may have heard by now about the benefits of converting your business to commercial solar energy. It will reduce operating costs and greenhouse gas emissions, among other benefits. But how should you go about implementing a commercial or industrial solar system in your facility? You should research solar energy for businesses, and you should consider the following factors as you do so:
Where is your building and how much sunshine does it get? What kind of weather does your location have? Are there many sunny days, or is it primarily cloudy and rainy? Is your facility surrounded by trees? If your facility is surrounded by trees and sees more cloudy days than sunny ones, this will cut into the amount of solar energy that installed solar panels can harvest to fuel your business.
If your location receives enough sun to justify investing in a commercial solar energy system, you will have to determine where the solar panels will be installed on your business’s property. If your property has a lot of open land, you should consider installing ground mounted solar panels. If your property doesn’t have that kind of room, however, you should consider installing the panels on the roof, or in a parking lot canopy.
Even if your business and your building are already connected to the power grid, you should make sure your solar panel system is compatible with it. Your system needs to be compatible so the grid can convert the DC electricity the solar panels produce into AC electricity. Grid compatibility is what holds the whole system together.
Since the way you power your business is a major financial decision, you should determine how much converting to solar will reduce your energy costs. You should also look into available state and federal tax credits you can receive for switching to solar energy. For instance, Connecticut offers a tax credit called the Zero Emissions Renewable Energy Credit (ZREC). You apply for a ZREC by entering a lottery, and if you do not win that lottery, other tax credits and solar incentives are available in our state. Federal grants for going solar are also available. Overall, these economic and financial options give you multiple avenues to pursue if you are serious about making the switch to solar energy.
When you invest in a solar energy system for your business, you can choose between two main ownership options:
1. Third-Party Ownership
With this ownership option, the commercial solar company you partner with will plan, develop, build, maintain, and own the solar energy system on your business’s property. They will draw up a solar lease or power purchase agreement with you that determines what kind of rates you will pay to the company to use the solar array’s power. At Verogy, we maintain low rates throughout the system’s lifespan. Choosing the third-party ownership option allows you to use the system while keeping it off your books. Also, with this option, the commercial or industrial solar company that owns the array will receive the tax credits for installing it.
2. Direct Ownership
You can select this option if you would prefer to finance, maintain, and own the solar array yourself. In this case, you will directly receive all tax credits and related deductions during the system’s lifespan. Also, you’ll keep the array on your books. This option lowers the overall costs of reducing the system, and the company you work with may still be able to maintain the system for you.
At Verogy, we work hard to give you access to solar so you can convert to a clean energy source. We will conduct surveys to determine if your location is a good place for using solar energy, and we will charge you low rates if you want us to own the system for you. If you are interested in our services, or if you have any questions, contact us today. We will do our best to make sure your solar project is successful and that it reduces the energy costs that cut into your bottom line.