Commercial real estate is a lucrative investment for shrewd and resourceful owners. Yet even the best of them despair over the costs of inputs: lease management, advertising, legal issues, maintenance, repairs, capital improvements — the list goes on and on. One of the largest expenses is utilities, especially energy bills. While they swell in summer and winter, they are always steep regardless of season. Fortunately, there are ways to offset electric bills, namely solar panels. In addition to the financial savings, property owners will realize after installing these panels that there are other positives to incorporating them into a building’s infrastructure.
#1: Saving Money
Commercial properties come in all shapes, sizes, ages, and configurations. Their energy charges will, of course, differ. Still, there are many areas of operation in which owners could invest, regardless of size. Yet utility bills continue to drain these monies from the overall revenue that a building produces. When even a portion of electric power originates from the sun’s rays, as opposed to the grid, this bill drops significantly. Many businesses, in fact, win back the entirety of their initial investment within a decade of panel installation, and that is independent of tax credits and rebates.
#2: Raising Property Values
Real estate investors can do very well by land-lording. Still, there is always the prospect of a profitable resale lurking on the horizon. With solar panels as part of a building’s infrastructure, the outlook for satisfactory profits grows more likely. Energy efficiency benefits new owners as it does current ones. Therefore, the property is a more appealing asset for buyers on the market. As a result, not only is an acceptable sale price more probable, but a quicker sale is also more plausible. Commercial appraisers now consider green features when issuing valuations for subject properties.
#3: Enhancing Reputation
Yes, even a building can have a reputation, for good or for ill. If an owner opts to employ solar panels and other environmentally friendly features, the property will gain an elevated reputation. Why? Up-and-coming entrepreneurs and their employees are more committed to green measures than were previous generations. In addition to more sustainable construction materials, landlords are outfitting rooms with sensor-based lighting; water-efficient plumbing; and, yes, rooftop solar panels. In many cases, these are non-negotiable features for prospective tenants and lessors. Having solar panels is a way to recruit dependable, well-paying occupants.
#4: Mitigating Power Failures
In and of themselves, solar panels will not prevent a power outage in a house or building. This is because their connection to the grid triggers a shut-off in electric current flow for the safety of utility workers. However, solar-powered generators that are charged by the sun’s rays can kick in and thereby provide stored energy to the building. Unlike traditional generators, solar generators require no gasoline and spew no emissions. As long as the sun shines, these machines can provide a continuous supply of energy for the duration of the disruption of power. Solar generators are powered by sunlight, so as long as there is sunshine, they can generate a steady stream of energy.