Why should you install solar for commercial buildings?
Pros of solar for commercial buildings
Commercial buildings like malls, trade centers, large institutions etc., have a lot of unused space in the rooftops. This has been left unnoticed for years. But not anymore! Why not use this space to generate additional revenue in terms of electricity savings. A right investment choice which will yield benefits for up to 25 more years to come is the solar power plant for commercial buildings. Solar for commercial building may seem to be not a feasible option especially for the small commercial spaces with initial investment being high, but the reality is something very different. This article gives you 5 good reasons as to why you should consider installing solar for commercial buildings.
Solar energy has high Return on investment (ROI)
The solar panels for commercial buildings should be considered as investment rather than an expense. Solar power plants are long – term investment options and has higher Return on investment. The new, advanced technologies have reduced the cost of solar panels and installation drastically, and provides better ROI. Having a long – life time, the solar power plant continues to save money and in case of on- grid solar power plants, the excess energy from the solar power plants is sold to third parties and generates additional revenue for the commercial space. The pay – back period of the solar for commercial buildings is also very short, providing quicker benefits.
Reduces the electricity expenses
Commercial buildings consume a large amount of electricity on a daily basis. A considerable amount of your total operating expenses goes towards electricity bills. The solar power plants for commercial buildings helps in cutting of this cost. After the completion of the pay- back period of solar power plants, the commercial solar panels will reduce this operating expense. In the years to come the entire electricity generated will be accounted as profit for the commercial space as they need not pay any electricity bills while also selling the excess available electricity to the grid. In addition to that, by having a commercial solar panel system you need not worry about the increase in electricity tariff.
Tax benefits of commercial solar power systems
Governments from all over the world are supporting installation of commercial solar power systems by providing tax waivers and subsidies. This stands as a huge benefit for the solar power plant owners while also providing huge savings over their electricity bills. The government of India offers an accelerated depreciation benefit of 80% under the income tax act of India. in addition to this tax benefits the MNRE also provides subsidies to encourage the installation of commercial solar panels. MNRE gives up to 30% subsidy for rooftop solar power plants, making solar highly cost – effective option.
Solar power plants Promotes greenness with carbon credits
The world is increasingly concerned about the pollution, decreasing fossil fuels and other environment related issues. Solar panels being one of the important renewables, clean energy source is definitely an added advantage for businesses. People are also finding the importance of greenness. Thus, having commercial solar panels will convey a positive message to the society and helps the commercial spaces attract more customers. The commercial solar panels also help in reducing the carbon footprints (associated with carbon – di – oxide production) of the commercial building with an added benefit of carbon credits. This carbon credit can be sold to larger industries and serves as an additional cash flow. This way, the solar panels for commercial buildings not only promotes greenness in the society but also generates revenue to the owners.
Low maintenance cost for commercial solar power plants
After installation of solar power plants, the maintenances cost is very low. As there are no moving parts in the solar power plants, there is no friction and the operation of the solar power plant is noiseless. The solar panels are covered with toughened glass and the outer frames are aluminum. This makes the commercial solar panels corrosion resistant and can withstand heavy rains, heat and other diverse weather conditions. Solar panels for commercial buildings in highly dusty and windy zones, needs cleaning from time to time to prevent deposit of dust over the glass. This makes solar power plants have the least operation and maintenance cost.
“ Affordability of solar power plants for commercial spaces and the space utility has made solar panels an attractive choice of long – term investment ”
Solar panels for commercial buildings are extremely affordable options nowadays. With the availability of government subsidy of 30%, the solar panels for commercial building costs very less compared to the cumulative monthly electricity bills paid over the years. This brings down the cost of solar power installation for commercial buildings to around Rs. 50000 / kWp approximately. With all these attractive features, commercial solar power plants stand as an attractive, affordable and green option of investment for the investors. Know more about the tax benefits and carbon credits through our blogs and reach out to us for any solar power plant related support.