Why Solar Is a Sound Investment for Your Business

It’s simple to list the numerous advantages of solar panels for a company, but evaluating the worth of each can be more difficult. A good example is the effect of solar on property value. While it is likely that a building with high-quality solar panels for commercial property is more valuable than one that relies on fossil fuels, quantifying how much more valuable it is can be difficult.

If increasing property value is a key element for your company in justifying the purchase of commercial solar panels, this article will go through some of the aspects that can help you do so.

What Is the Potential Increase in Value?

Once you’ve decided that commercial solar systems are the correct choice for your company, you might be asking how much property value will be increased. This is when commercial property valuation problems come into play. While the answer “it depends” may not be very pleasing, it does provide an opportunity to learn more about the various ways solar might boost a property’s value.

While some reports imply a similar association for company property valuations, not enough studies have been completed to corroborate comparable findings for commercial sites, according to a recent study conducted by the Lawrence Berkeley National Laboratories. Nonetheless, the general takeaway is clear: adding solar electricity to the property has the potential to raise its selling price.

The answer to each of the following questions will have a significant impact on the specific impact of solar on commercial property value:

• Do you own the property? Owning the property/ building will maximise the potential value increase from solar power.
• Do you rent? You can still benefit from solar if you rent through lower rates and possible utility offsets.
• Are there other benefits? In addition to cost savings, solar addresses a number of social concerns (such as climate change) that can be of value to your business.

The general benefit of adding solar power to your business are as follows: 

It’s Environmentally Friendly

When most people think of solar for businesses, they think of green. Being environmentally responsible does not always translate into increased property value. Thankfully, a number of incentives have come together. For many business owners, green is synonymous with success.

Government rebates for sustainable design and a new breed of socially conscious business owners prepared to pay a premium for green properties are among the incentives. Finding a commercial real estate agent with experience marketing green properties is critical; if you do, solar energy can be a huge help.

It Can Lower Costs

It’s as easy as that: every watt of electricity you generate with solar panels is electricity you won’t have to pay for. Solar panels may pay for themselves in as little as a few years, and solar-generated electricity is now the least expensive type of electricity in history.

Using solar panels to generate power increases the value of your property in two ways. The benefit of reducing overhead costs is self-evident. Even better, if and when you decide to sell, you can tout the solar panels as a selling advantage; after all, the next owner will benefit from lower operating costs.

You’ll need to undertake a cost-benefit analysis to see if the savings in overhead costs and increased property value are worth the investment in solar. Solar panels may pay for themselves in a short period of time when combined with government rebates, which is, fortunately, the case in most regions.

It Can Be Used for Off-Grid Devices

To raise the value of your property, you don’t need to install a whole solar array. Solar panels can be utilised to power only specific items; for example, off-grid solar LED lighting systems can be used to illuminate your parking lot. The lights will switch on when the sun sets, and because they have been powered by solar energy all day, they will last all night.

As a result, your parking lot lights will not add a penny to your electric bill.

Small-scale solar for lighting is ideal for businesses looking to boost their property’s value without committing to a large solar installation. 

In the future years, solar power will continue to gain popularity. As long as government incentives promote green firms, renewable energy will be a significant element in the value of commercial premises for sale.

Solar electricity can increase the value of your property regardless of how big or little your company is!