There’s a reason why more business owners across Canada are taking a closer look at solar. In fact, there are several reasons. And if you’re still on the fence about what installing photovoltaic (PV) panels can do for your own business, here are the top five benefits commercial property owners report after going solar.
5 Benefits of Commercial Solar
1- Financial Savings
Not surprisingly, saving money is the #1 motivation for most commercial solar customers. By installing PV panels, you’re able to offset your utility bills with free electricity generated from sunshine. And those savings quickly add up, with most of the systems we install for our clients paying for themselves in an average of 8 to 12 years.
And remember that energy prices keep trending up globally. So the solar investment you make today also helps to shield you from inevitable utility rate increases tomorrow.
Even the most developed electricity markets aren’t immune to grid outages. That’s because utility providers worldwide must deliver power across aging infrastructure – often while balancing a mix of legacy energy sources and renewable power sources. And with growing demand, overburdened networks, and increasingly erratic weather, blackouts will likely become more common – even here in Western Canada.
If business continuity is crucial to your operations, combining PV panels with solar batteries can help guarantee 100% uptime – even when the rest of the grid goes down. Whether to add on-site storage is optional. But depending on your own energy needs and the design of your PV system, installing batteries not only provides you with reliable backup power but can also help compound your savings and make going solar an even better investment than it already is.
To determine whether on-site storage is right for you, be sure to read our comprehensive Solar Battery Guide.
3- Environmental Savings
Rather than power your business with dirty electricity generated from fossil fuel, switching to solar allows you to harness the clean energy that already hits your roof with each new sunrise.
But why stop there?
At EVOLVsolar, we also help our clients make as many energy efficiency improvements as possible prior to installing solar. Doing so not only helps to shrink your carbon footprint but also reduces the number of PV panels needed to cover your current and future energy requirements.
4-Corporate Social Responsibility
Going solar can help you generate more sales and stronger business relationships. This is because suppliers, vendors, and customers increasingly prefer doing business with brands that support values like sustainability.
Although there are many different ways you can demonstrate your business’s commitment to the environment, installing solar panels on your commercial property is both the easiest and most profitable.
5-Property Value Increases
Installing solar panels has the potential to increase the resale value of your commercial property. And it can also reduce the amount of time your property stays on the market.
The reason why is simple.
Future buyers are more likely to pay a premium for solar-enabled assets that deliver the benefits outlined above. Those prospective buyers start enjoying lower utility bills, carbon offsets, and goodwill on Day 1. And those benefits don’t go away until the PV system exceeds its useful lifetime. Most solar panels ship with warranties of 25 years, although a well-maintained installation can easily last 40 years or longer.
(For more information on the benefits of solar panels, read here)
How to Pay for Your Solar PV Installation
The two most common ways to finance a commercial solar installation is with cash or low-interest loans:
- With cash, you pay for the entire installation upfront – parts and labour included. If you have the available funds, this is the most direct way to go solar. Paying for a system with cash also delivers the shortest possible payback period of any financing approach.
- With a low-interest solar loan, you borrow money to pay for the entire installation upfront – parts and labour included. You then use the monthly savings from your solar installation to pay down the loan balance over time – often with money left over after every billing cycle. As such, you’re not technically paying anything out-of-pocket. Once the loan has been repaid, the entire system is yours to keep.
Whichever financing approach you use, make sure you take advantage of every applicable incentive and tax credit that you can. Doing so helps to drive down the upfront and long-term costs of going solar.
If you live in Western Canada, be sure to read our Solar Incentives page, which covers lucrative benefits like net metering. The Canadian government also has an extensive resource specifically for business-related solar tax credits. And Alberta has recently introduced a solar rebate program for area businesses.
Don’t hesitate to contact our energy experts if you need help applying for any of these national or provincial incentive programs.
Where to Install Your Commercial Solar Panels
Having the best solar panels available in Western Canada and where to install them is pivotal to your long-term success.
The best place for a solar installation is on a pitched South-facing roof that is both large enough and strong enough to accommodate PV panels. However, not every commercial property meets these exact requirements.
Fortunately, it’s possible to install solar in a wide range of different configurations – while still generating substantial financial and environmental savings. Some of the more popular setups involve installing panels:
- On flat roofs – like with grocery stores or warehouses
- On pitched roofs – South-facing is best but not required
- As carports – generate power and create shade for parked vehicles
- As ground-mounted systems – which offer some of the highest returns due to their flexibility
As you can see, there are very few commercial properties and spaces for which solar doesn’t make sense.
Ready to Enjoy These Commercial Solar Benefits?
From higher savings to cleaner air to happier customers, solar offers a host of difficult to ignore benefits. And that the government is prepared to subsidize a portion of your clean power investment should make the decision even easier.
If you’re ready to start reaping these benefits today, contact our energy experts for a free solar quote.
EVOLVsolar is Western Canada’s leading solar company. We have one mission: to make solar energy affordable while giving back to the environment. By investing in solar power, you can save money on energy bills, upgrade the value of your property and reduce your energy output. You can expect high-quality solar panel installation, world-class workmanship, excellent customer service and the best solar technology available. Our success has established us as the go-to solar installers in BC and Saskatchewan, and one of the leading solar companies in Alberta. Experience the EVOLVsolar difference by contacting our corporate office today at (587) 602-0534.