How Commercial Solar PV Can Enhance Your Business
Save Energy and Money With Commercial Solar PV
What is Solar PV?
Solar photovoltaic cells convert sunlight directly into electricity and are traditionally manufactured from silicon in a planar form to increase efficiency. Second generation solar cells, or thin-film solar cells are made from amorphous silicon or other materials entirely. Due to their versatility and virtually endless power supply, solar photovoltaic cells are used to power everything from space satellites to rooftop shingles and tiles.
How can solar PV be beneficial on a commercial level?
Commercial Solar PV Solutions
There are a number of complete commercial solar PV solutions available, but the fundamental service infrastructure is similar. For a commercial solar PV solution, power conversion equipment, electrical distribution, monitoring, and technical support have to be considered. For example, Schneider Electric offers a complete commercial solar PV solution from the panel DC output to the grid connection.
Why Switch to Commercial Solar PV?
Utility prices have been rising, and solar power systems have become considerably cheaper. In other words, solar power is now a feasible, sustainable, and cost effective energy alternative. While smaller businesses have not yet made a significant transition, around 20% of the Fortune 500 companies have seen significant energy and cost saving effects by utilizing commercial solar PV. While the installation might seem like a hefty initial investment, there are long term benefits worth considering.
By switching to commercial solar PV, businesses are able to reduce utility bills by as much as 75%. Energy savings through solar PV can be quite substantial. According to a recent report by EnergySage, the average commercial property owner paid a little under $2000 a month in electricity bills before switching to solar. After making the switch, the average monthly electric bill was around $500.
If the initial investment is still too burdensome, businesses can utilize the Power Purchase Agreement. In this agreement, the provider agrees to supply energy to the customer at an agreed upon rate for an extended term. This has been particularly beneficial in helping non-profits capitalize on energy savings in the long run.
Again, commercial solar PV is a viable method by which to save energy and money. The cost of the panels themselves has dropped more than 80% since 2011. Most small businesses do not have to absorb the upfront cost because energy system providers offer options such as loans, leases, and the above mentioned Power Purchase Agreement.
If you want to learn more about how commercial solar PV can help your business, CADsourcing has professional services which will help you in this endeavor. Contact us today to get started.