Save Your Business Money With Solar
Many businesses have already switched to solar power and are now reaping its benefits, foremost of which is lower operational cost. If you don’t already have solar panels installed, then there is probably one thing that is preventing you from doing so – the cost. The price of installing a solar power system has come down significantly in recent years. But it is a considerable investment, especially for a small business. Read on to know how to work out your savings for your business by putting on solar.
What is the cost of installing solar?
Installing a standard rooftop solar power system will set you back anywhere between $8500 to $40,000. The price will main depend on the size of the system that you are going to install. Generally, the larger the system the more expensive it will be.
Prices will also be affected by the Small-scale Technology Certificate or STC that is provided by the Federal Government. Through STCs, you can get a discount of up to several thousands of dollars. The amount of discount you will get from an STC will again be determined by your location. In general, you should expect to pay around $1.40 per watt if you will install a solar panel. The price per watt decreases with a bigger solar power system.
Other factors that may affect the cost of installing a solar power system include the angle and condition of your roof, the service fee of the installer, and the quality of the solar panel.
How much can solar power save your business?
Without a doubt, installing a solar power system is expensive and will require you to spend a significant amount of money upfront. In order to appreciate solar power though, you need to look at its long-term benefits. Unless you encounter a major problem with your solar power system, it will eventually pay for itself with the savings that it will generate for your business. Of course, how soon you will be able to recoup your investment will depend on many factors: the size of your business, how much energy you are using, the weather, your location, etc. You should also know that most solar power systems come with a warranty of 10 to 25 years. So you can expect you system to pay for itself within 3 to 5 years. Beyond that, the energy that your system will be able to produce is going to be pure profit.
Solar is king for cash flow!
When deciding to put on a solar system on your commercial property there are many ways to tackle payment. One way is paying for it upfront but the most popular way is using a rent to own agreement. This is perfect for most businesses because the repayments are generally less than the savings. Which means that putting on solar actually causes a cash flow positive scenario. Just think that your essentially putting on your own power station on your roof.