Solar collectors are photovoltaic cell modules that capture sunlight and convert it into usable energy for homes and businesses. Many people associate them with houses or schools, but small and large commercial buildings can also be used. This guide on how to save money with solar panels lists some of the best cost-cutting techniques that need to be considered.
Long-term energy supply
Perhaps the most significant benefit solar panels offer businesses is long-term, low-cost energy. Energy from non-renewable sources such as coal, oil or natural gas is often directly influenced by their respective markets. In fact, businesses suffer from volatile energy bills and the occasional power outage when their bills are not paid or poorly managed. Solar panels, on the other hand, eliminate these problems. Companies can harvest solar energy for up to 35 years, the typical lifespan of a panel. The need to replace them is so rare that the companies that use them only have to pay a small upfront cost.
Reliable, low-maintenance infrastructure
Another notable advantage is that the panels themselves are reliable and require little maintenance. Solar panel systems have very low maintenance requirements. There are no motors, gears, levers, or other internal systems for engineers to repair. In fact, solar panels instead use photovoltaic cells that convert sunlight into electricity. These cells connect to one another, spliced between two pieces of silicon or some other semiconducting material. Metal conductive plates on the sides collect electrons and transfer them to wires so that the electrons can flow evenly through the plate. This entire process converts sunlight into direct and alternating electrical currents for your business.
Tax credits and performance-based incentives
The final way that businesses can save money with solar panels is through tax credits and performance-based incentives. Many residents use the Federal Solar Tax Credit, but businesses are also eligible. For 2020, businesses can get the full 26% federal tax credit or 22% for 2021. Otherwise, many states have their own solar energy tax credits as well. New York also offers corporate solar grants. In other states, performance-based incentives like solar energy certificates make up for some upfront costs when installing a new solar panel system. Utilities can pay some of these upfront costs or offer payouts to improve your company's energy performance.
Call us at Solar Liberty for a proper commercial solar panel installation in your small or large business. Our solar panels are perfect for retail, government agencies, schools, universities and more, and will match any roof design. By using solar panels, any building or property manager can reduce their operating costs while promoting sustainable energy production and making their environmental footprint visible to others.