Commercial Solar Panel Systems
Solar power for business is an even much bigger ‘no brainer’ than it is for homes. Businesses use much more power, and the tax incentives are much higher. Typically, a business solar panel system pays for itself in 3 – 4 years. At Solar Harmonics, we generate a custom proposal that evaluates the total electricity costs for the year, and then we work with the business owner where we can install solar panels.
In general, a rooftop solar panel system will breakeven in just 3 – 4 years. We also do covered parking (who doesn’t love covered parking in the summer?), but the breakeven time is 5 – 6 years. But why don’t more businesses have solar on their properties? From a financial perspective, solar is a no-brainer, so the issues often become political (not everyone on the board agrees to go solar), aesthetic (don’t like the look of solar), or just that other business gets in the way of the solar decision.
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For property owners who operate in their own building, solar is is a slam dunk. The way commercial real estate is valued is by the building cash flow. So, as solar decreases the electricity expense, net income increases, and those profits flow to the net cash flow. That annual cash flow, not including the tax incentives, divided by the market cap rate, generally show a $100,000 investment in solar power returns a building increase of $400,000 from the first day of operation.
For triple net building owners, where the tenants pay the electricity bills, solar is still a great investment. Before solar, the tenant is writing one check to the landlord for rent, and another check to the utility for electricity. What if a portion of the electric bill could be moved to the landlord? Now, the landlord is making money from the rent and the electricity costs. And once the solar is paid off, the solar panels do not stop producing. The payments from the tenant keep flowing to the landlord, so going solar, once again, increases the value of the building from the first day.
There are countless other green benefits for building owners to go solar from the political to employee retention and recruitment, to simply having shade in the parking lots that every building owner should strongly consider going solar.
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