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Originally Posted On: https://readysolar.ca/commercial-solar-panel-installation-benefits-and-considerations/
Commercial Solar Panel Installation: Benefits and Considerations
Solar panels offer many benefits such as significantly reducing electricity costs while demonstrating a company’s commitment to sustainability. However, commercial solar panel installation requires careful planning, and many different factors must be considered to maximize this investment.
The Clean Technology (CT) Investment Tax Credit (ITC) has made investing in solar energy easier than ever for Canadian businesses. This federal incentive offers up to 30% in tax credit for qualifying solar installations to eliminate cost barriers.
To help you navigate the particulars of this energy alternative, we at %COMPANY% have written a blog post to explain the benefits of commercial solar panel systems, how businesses can take advantage of the CT ITC, and what to consider before having a system installed. Read on to learn more.
What Types of Businesses Benefit From Switching to Solar?
Tax credits and positive ROI projections make investing in solar a no-brainer. Solar energy is beneficial for small and medium-sized businesses as much as it is for large corporations, as it allows for energy independence.
Here are the specific types of businesses that can benefit from switching to solar:
- Manufacturing facilities: Manufacturing facilities are known for their high energy use. Solar is a cost-effective solution that reduces operating expenses without negatively impacting large-scale production.
- Retail stores: Large retail spaces can benefit from solar energy, as it offsets the cost of lighting, heating, and cooling, increasing profitability.
- Warehouses and distribution centers: Warehouses and distribution centers have high energy needs and vast roofs that are perfect for solar panels. Solar energy can significantly lower electricity costs and improve energy efficiency.
- Office buildings: Solar power can reduce the energy costs associated with lighting, HVAC systems, and electronic equipment for offices, leading to long-term savings.
- Agricultural businesses: Solar can power an agricultural business’ irrigation systems, processing equipment, and storage facilities, reducing operational costs in energy-intensive farming operations.
What Are the Benefits of Commercial Solar Systems?
Traditionally, solar energy was considered an investment in environmental sustainability. However, recent years have seen increasing awareness of other benefits.
Here’s how businesses like yours benefit from commercial solar systems.
Lower Electricity Bills
When you generate your own solar power, you reduce the amount of electricity you need to purchase from the grid. Offsetting a significant portion of your energy consumption means decreased overall demand from utility companies, which leads to immediate savings on monthly energy costs.
Protection From the Volatility of Energy Prices
By harnessing sunlight to generate power on-site, you can meet a large portion of your electricity needs independently, especially during peak daylight hours when solar output is highest. This reduction in grid reliance shields you from fluctuating energy prices and potential rate increases.
Consistency in Output
A common misconception preventing businesses from making the switch is the unreliable nature of solar panels, in that they can’t provide consistent energy without costing a fortune. However, modern solar energy systems can produce steady, high-output power even for energy-intensive businesses (especially with battery storage).
High Scalability
Solar energy is highly scalable, making it an ideal long-term solution for businesses projecting substantial growth. As energy needs increase, companies can expand their systems by adding more panels or upgrading infrastructure. This flexibility allows businesses to start with a smaller installation that fits their current needs and budget, while leaving room for future growth.
Cutting costs doesn’t have to involve reducing energy consumption or negotiating better supplier contracts. Instead, consider solar energy. As you reduce your reliability on the grid, you’ll notice lower monthly electricity expenses over time.
What Is the Clean Technology (CT) Investment Tax Credit (ITC)?
The Clean Technology (CT) Investment Tax Credit (ITC) is a tax incentive created to encourage businesses to invest in solar energy. Under this program, companies can claim a tax credit of up to 30% of the total cost of solar panel installation.
To be eligible for this tax credit, you need to be a taxable Canadian corporation. Your corporation must rely on active solar heating equipment or concentrated solar energy equipment to generate electricity.
The overall goal of this incentive is to have businesses reach a net-zero standard, defined as the ability to produce as much energy as is consumed. Along with solar energy, this could involve other sustainability efforts, such as implementing EV charging stations.
How To Choose the Right Solar Equipment for Your Needs
Choosing the right solar equipment involves evaluating factors like system size, efficiency, and overall energy needs.
To determine an appropriate system size, you’ll need a detailed analysis of your business’ electricity consumption patterns, measured in kilowatts. In terms of efficiency, high-efficiency panels are ideal for those limited in space. Inverters (which convert DC electricity from solar panels to usable AC power) should also be selected based on their capacity to handle your system’s total energy load.
Ensure you’re implementing backup battery storage, as it can enhance your business’ energy resilience. Without battery storage, you’ll rely solely on the grid during outages or peak demand, potentially reducing cost savings.
The Importance of Solar Maintenance for Maximizing Efficiency and Output
While solar panels generally don’t require much upkeep, regular solar maintenance ensures that your panels are operating efficiently, maximizing energy output.
Dirt, debris, and anything on the surface of your panels can impact performance, as it blocks sunlight and reduces energy efficiency. Periodic cleaning can be as simple as scrubbing and rinsing the panels with water. Most panels have protective coatings, so there’s no need to worry about damaging them.
It’s important to also ensure that you’re having a professional conduct inspections on a regular basis. They’ll check that your panel’s inverters and parts are functioning correctly. They can also fix loose connections, worn wiring, or faulty components like fuses or breakers if detected.
Start Saving With Ready Solar Inc’s Commercial Solar Solutions
Ensure you get the most out of your investment with Ready Solar Inc. Our team provides quality installation and maintenance services. We offer expert support and tailored solutions, making the transition to solar seamless. Contact us today at (604) 262-6919 to start saving with commercial solar!
