Commercial solar provides a great return on investment. According to the U.S. Energy Information Administration (EIA), in , the average commercial building spent $650.04 on electricity (likely on par with most small-to-mid-sized-businesses). Over a year, this equates to $7,800 in operating expenses. Over 20 years, your business will spend about $156,010 on energy costs.
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Based on the same EIA dataset, the average commercial property consumed about 69,540 kWh of electricity in . Let&#;s assume your business installs a solar panel system that offsets 90% of this electricity consumption. Let&#;s also assume that your system&#;s production ratio (the ratio of its estimated energy output over time, in kWh, relative to its actual size, in W) is 1.4 (it typically ranges between 1.1 and 1.7 in the U.S., depending on your location).
How big of a system does your business need? Plugging in our numbers from above, we get:
System size (in W) = Annual consumption (569,540 kWh) * system offset (0.9) / production ratio (1.4)
This gives us a system size of 44,704 W or about 45 kW. According to our table above, a 45 kW system costs about $39,150, including the ITC and five-year depreciation with MACRS.
Over 20 years, your business will save about $101,259 in electricity costs with solar:
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20-year savings = 20-year electricity costs ($156,010) * system offset (0.9) - upfront solar energy system cost including incentives ($39,150)
Beyond the direct financial benefits, installing solar panels can also help your business protect itself against electricity price volatility and inflation. In many states, the price of electricity can fluctuate significantly due to demand, creating a headache for business owners who closely manage their cash flow. With solar, your business can lock in electricity prices and reduce reliance on the unpredictable electricity market, making it easier to budget and plan for the future.
Solar energy systems are growing in popularity for businesses of all sizes. And is it any wonder why? A solar array can provide your company with the resilience it needs to keep working during an unexpected power outage and it can even lower your energy bills.
If you&#;re considering investing in solar power for your business, you&#;re no doubt wondering how important solar panel efficiency is when designing your system. What does solar panel efficiency mean in the first place? Should you always opt for the most efficient solar panels? What are the best solar panels for your situation? How can you be sure you&#;ll have enough solar power to run your business?
This post will answer some of your most pressing questions about solar panel efficiency.
Contact us to discuss your requirements of 72 Cell Solar Panel for Homes. Our experienced sales team can help you identify the options that best suit your needs.
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