Are Solar Panels for Businesses Worth It?

If you are a Southern California business owner, the notion of “solar panels for businesses” might conjure up a move taken with much trepidation in what is a complex and often confusing market. In the last year several Fortune 500 companies have invested in the best commercial solar panel companies, but is your business an ideal fit for a solar panel system?

There is a good chance you have been talking with your executive team about the possibility of installing solar panels on your factory locations, corporate headquarters, or chain locations in the near or distant future. Often, the question of how affordable solar panels are comes up, and then ideas are shared around the table exploring whether or not  your organization can afford to make this major investment in something that seems like an environmental “merit badge” rather than a strategic financial tactic.

This article will take a look at various reasons why businesses have invested in solar panels, and will strive to help business owners and executive teams to better determine if installing solar panels on your commercial properties are worth it.

Commercial Solar Panel Financing is Better than Ever

As this is an investment to help improve your bottom line, let’s take a look at some numbers. According to Energy Sage, the average business owner pays just under $2000 a month in electric bills before going solar. After solar panels have been installed the average electricity bill was reduced by 75%–about a monthly savings of $500.

So the big question to come after such data is this: how much does it cost to install a solar panel system? Thanks to rebates, tax credits and other programs, the cost of buying and installing solar panels for businesses has reduced significantly in the last five years making the option affordable for most commercial properties.

Your commercial solar panels are sized according to a measurement of watts, and this is dependent on how much electrical power you need to run your business. To give a better idea the average residence uses a six kilowatt or 6000 watt solar panel system to cover their electricity needs. Solar panel cost is generally measured in dollars per watt.According to data from Energy Sage, the average commercial solar panel system was priced at $2.87 per watt before any rebates or tax credits were calculated. Overall, solar panels for businesses are extremely affordable.

Solar Panels and Your Bottom Line

There are other financial incentives to installing solar panel systems for businesses. Multiple studies show that businesses contributing to environment and local sustainability win more customers, improve employee satisfaction, and help the local economy thrive. Today’s buyers are attracted to brands and companies that invest in sustainable business solutions. Also, LinkedIn published a study stating that a higher quality of employees come from the cohort of those who seek employers that go green in business. Finally, the best solar panel companies use local labor to install solar panels and work on the roof. So when the demand for solar projects is greater in an area, more jobs grow and with that so too do local customers. All in all, solar panels for businesses are worth it.