Going Solar at your commercial facility is a smart move. You most likely will see it positively impact your bottom line by reducing electricity costs. But, before you start take a minute to check whether your business can truly benefit from Going Solar. Here’s the top 4 questions we ask clients before considering if their business is a good fit for solar.
#1. Do you own the building where your business is located?
This comes up a lot, and frankly is most important. Installing a solar system requires construction on the existing building or land. It makes the most sense to install on owned property.
If you do not own your property, consider bringing up the idea of going solar with your landlord. You may be able to reduce your energy costs without footing the bill!
If you are the owner, you’re 1 out of 4.
#2. Is your current electricity bill greater than $200/month?
Assuming you’re not using a lot of electricity better stick with your local utility company. Yes, it is true. Solar systems pay for themselves over time, but if it is only saving you a minimal amount in electricity cost, it may take decades for the system to pay for itself. Use the $200/month rule. This rule states, if your electrical bill is over $200/month, you will most likely see economic benefits from going solar. The higher your electricity bill is, the better candidate you are, and the more you can save.
Whatever amount you are currently spending on electricity solar can potentially offset costs. For some system, that means an offset of tens of thousands every month in electrical costs.
Paying more than $200/month, you’re 2 out of 4.
#3. Do you have space and ample sunlight?
When thinking about installing a money-saving solar system on your facility, where would you put it?
Solar systems are typically installed on the roof (when possible) and to make use of existing structures.
Look at your roof (if possible) throughout the day and see how often it is shaded by other structures. However, it’s up to your solar installer to determine the most cost-effective design plan for your facility. The main point of this question is to get you thinking about a location for a large solar system. If your roof is constantly shaded, it may be difficult for you to offset your electrical bill and see serious benefits.
Remember, the bigger the electrical bill, the more space needed to offset that bill. If you feel you are in this scenario, have CitiGreen review your options with you. We will analyze your usage amount and facility size to determine how you can benefit from Going Solar. Generally, if you’ve got space on your roof, you can offset your bill tremendously.
If you have space and sunlight, you’re now 3 out of 4.
#4. Are you eligible for financing options?
10 years ago, solar technology was gaining more and more popularity, prices were sky-high and only made sense for large businesses who could wait for the long payback (sometimes as much as 15 years). For others, it was just simply a matter of coming up with the money. Fast forward to today and everything has changed. Don’t get me wrong, solar is still an expensive project.
However, with the solar investment tax credit, leases, and other financing options, it has become much easier for large and small businesses alike to Go Solar. Typical payback periods are 2-3 years with a 30-40% ROI.
Of course you can always pay cash for your solar system. For most businesses’ that can be risky. The more common options is no money down where construction on the solar system begins and the business/building owner starts seeing utility savings immediately. This type of option is prevalent and helps just about anyone start putting more money into their own pocket instead of their local utility company. If you’re not sure if you are eligible for financing, you can work with CitiGreen to review your options.
No matter what happens, with the amount of savings at stake it’s better to know than to have wondered!
Need financing options? Great! 4 out of 4.
And that’s it.
In our 10+ years in the Solar Industry, if you can check off all 4 items, then your business would benefit from Going Solar. If you answered “not sure” to any of the questions, the next step is to request a assessment and solar design from a CitiGreen representative.
We will prepare a comprehensive evaluation to detail your immediate savings, return on investment, and payback period.
Electricity rates continue to increase and it just makes plain sense to not delay the next step. It could start putting money into your wallet instead of your local utility company’s.