Can you Benefit from Solar?
Many midmarket businesses find going solar an economic no-brainer. Although several see substantial benefits, certain factors affect companies differently. We outline the most important factors below, to help you decide whether or not your business should adopt solar power.
Facility Ownership
Businesses operating in a building they own are best positioned to reap the economic benefits of solar because they can install without restrictions. Plus, many of the incentives rely upon building ownership.
Roof Age and Structural Integrity
Many of the most profitable solar arrays are installed on the facility’s roof. An older roof that will need to be replaced during the usable life of the solar array will complicate the financial paybacks. In addition to age, the roof’s structural integrity must accommodate the weight. The good news: if your roof age or quality complicates the installation, and you own open land adjacent to your facility, we can design a ground-mounted array with very similar benefits.
Profits
For-profit organizations have the straightest path toward financial gain. Significant contributors to the financial model include the Federal Tax Credit for Solar Photovoltaics (also known as the Investment Tax Credit – ITC) and accelerated depreciation. Learn More HERE. Not-for-profit organizations such as charities, co-ops, schools, and municipalities can still benefit from solar, but in order to maximize benefits, a Power Purchase Agreement (PPA) should be considered.
Energy Usage Profile
Solar arrays offset your energy usage. You cannot benefit economically from the energy that you can’t use. Net billing can shift that benefit from a sunny day to a cloudy one, but you should not build an array that produces more energy than your facility uses. You will sell energy back to the grid at wholesale prices, so the timing of your energy use should be considered when calculating your economic benefit.
When your business is on the line, trust Halo Solar. We can help you design the system that meets your unique needs. To learn more about adopting solar power and lowering your business expenditures, contact us today.