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By Ted Redmond, Co-Owner of paleBLUEdot and Environmental and Natural Resources Commissioner
For businesses, installing solar panels on your roof, over your parking lot, or on an under-utilized section of your site can provide your business with a number of benefits. Many business owners are unfamiliar with solar PV and are unsure what the benefits might be, or how to take the first step to “go solar” – so here are a few tips:
Explore the solar potential on your property – the PV Watts tool created by the National Renewable Energy Laboratory estimates the energy production and energy costs of grid-connected photovoltaic (PV) energy systems throughout the world. It allows small building owners and businesses to easily develop estimates of the performance of potential PV installations.
Understand the Tax Benefit – by installing a solar PV array on your property, your business may have significant tax benefits. Learn about the Solar Investment Tax Credit as well as the accelerated depreciation potential that your solar PV investment could qualify for.
Explore the Advantages – “going solar” has a number of potential advantages for your business beyond the economic payback. On-site renewable energy protects your business from rising energy costs, demonstrates your commitment to sustainability, and provides your business significant green credentials, boosts employee morale, and can help you stay competitive.
To Own or Not To Own - Solar PV ownership is typically a great long-term investment. Out-right purchase of solar arrays may not always be the best option for some businesses though. Luckily there are ownership options including solar leases or power purchase agreements that open up a number of options for your business.
Ask For Help - if you are interested in a detailed understanding of the solar PV potential and payback for your business feel free to contact us at any time! As an independent consultant, paleBLUEdot can help you navigate the advantages and disadvantages of all of the options and approaches based on what is best for your business, not what is best for a solar installer.