Chapters
Introduction
As a business owner, facilities manager or architect, you may have considered going solar to improve your Triple Bottom Line and save electricity costs. Here’s an ultimate guide to installing solar for your business.
Commercial solar is a great way for businesses to save costs with clean energy, however, it goes beyond this. Onsite solar can send an incredibly powerful message about your company’s values and priorities to your employees, customers, shareholders and the local community; demonstrating a commitment to environmental sustainability, updated technology, and more.
Here we will identify the benefits of solar for your business, how to know if it’s a good fit, what the process looks like, incentives, financing and more.
Benefits of Commercial Solar
Marketing
One of our favorite quotes comes from MSS President Mark Hagerty:
“I know of no other marketing expense, other than a solar array, that even if the marketing message fell flat, the campaign would still return a profit.”
Learn how to market your solar array.
Protect the Environment
By opting to harvest energy from the sun your business would consume less fossil fuel-fired electricity resulting in a reduction to your business’s carbon emissions. Emissions coming from coal and natural gas power plants are often the largest regional polluters, so any reduction in a building’s use of this electricity results in less regional air pollution; which ultimately is the air that your employees and their kids’ breathe.
Looking for more ways to be green? Here are some tips to reduce your carbon footprint.
Reduce Costs
Investing in onsite solar allows your business to be more profitable and flexible in the future. By supplementing your energy consumption with a solar array, you are improving your bottom line by offsetting the cost of electricity.
During its lifecycle, the solar array will provide a return on the investment. Most arrays in North America will return on their investment in under a quarter of the system's expected life. You may also experience a return on investment of 8% or more annually.
Understanding Your Business Electricity Consumption
When you’re considering installing solar, knowing your electricity costs and usage pattern is crucial to determining the right solar array for you. Michigan Solar Solutions uses a 12 month period of energy usage to size an array specific to a customer’s needs. Check out this step-by-step guide to make accessing your bill easy and painless for two of the biggest power companies in Michigan.Depending on the characteristics of your businesses electricity consumption one billing tariff with your electricity provider may be less expensive than another tariff. Here is how to be sure you are not overspending on your electricity in the first place!
Financial Benefits of Commercial Solar
In addition to marketing, protecting the environment and reducing costs, you can reap many financial benefits through your commercial solar array.
Return on Investment
Because solar is a cost offset (like an LED light project), its economics include a return on investment aside from all other value streams it includes. Depending on your site conditions and utility, businesses in Michigan have seen anywhere from 6-12% annual return on solar investments.
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Building Value
Like any fixed asset a business owns, solar adds value to the businesses portfolio especially their buildings/properties value. Whether you sell your building, business or the solar equipment there is value to the next user that must be recognized.
How To Finance Your Commercial Solar Array
Liquid capital is one of the most valuable assets a business has in its arsenal to continue operations, improve operations and make capital purchases. But in an economic landscape where most businesses work hard to avoid capital expenses, how does a business justify spending hard-earned capital on energy reduction or renewable energy projects?
Different types of commercial financing options:
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P.A.C.E
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PPA
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Michigan Saves
How to Prepare for a Commercial Solar System Purchase
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As more businesses and building owners are choosing to own their own power source - especially solar, you might be wondering what it takes to prepare for a solar system purchase and how to go about soliciting bids from local contractors. This article will shed light on what purchasing a commercial solar system could look like from beginning to end. Solar is not a one size fits all solution, it is, in fact, a surprisingly custom solution depending on the application, desired uses and value created. Businesses and residents alike may reap the benefits of decreased electricity costs, sustainability, and increased home or business value by installing solar. While solar can be added at any time, it is advantageous to go solar as part of a larger building upgrade or new construction.
Examples of Industries Going Solar
Solar can be great for a multitude of industries, here are some that the application has a special synergy with:
| Hotels | Warehousing | ||
| Light Manufacturing | Agriculture | Healthcare | Small Businesses |
| Data/Server Farms | Supermarkets | Wineries/Breweries | Restaurants |
| Car Dealerships | Community Centers | Schools | Doctors Offices |
| Office Buildings | Veterinary Clinics | Marinas | Retailers |
How Do I Know If My Business is a Good Fit?
Here are some things to consider:
1. Your business has high energy bills
2. You consume energy primarily in the daytime
3. You do not have high-density power use
4. Your site conditions are right for solar
Why Michigan Solar Solutions?
Check out some of our completed projects to see why we are Michigan's choice solar provider!
