Every business has one major expense, irrespective of its niche: Electricity. Whether you are a manufacturer or a service-based company, you need electricity to keep your business running. Commercial solar installations help you get free electricity, cut down your costs, and build your brand image!
Yes, the ROI on commercial solar panels goes beyond money measures. In this blog, we will discuss commercial solar panel systems, their benefits, and ROI. Sunora Solar is here to help you switch to sustainable energy effortlessly.
What Is a Commercial Solar Panel System?
The commercial solar panel systems are large-scale solutions designed to support heavy-duty machinery, continuous operations, lighting, HVAC systems, and other commercial loads. Energy-dense companies can use solar energy to reduce their reliance on the grid, reduce the cost of operations, and become more sustainable.
The following are a few popular Commercial Solar Installations:
- Rooftop commercial solar panel system
- Ground-mounted commercial solar system
- Solar carports or parking sheds
- Solar panels in industrial sheds or open spaces
Benefits Of Commercial Solar Installations for Businesses
The following are the benefits of commercial solar panel installation.
Become grid-energy independent
Whether you have a manufacturing factory or a showroom, you need constant electricity. Commercial solar panel installation helps you reduce your reliance on grid-based electricity. It is perfect for businesses that operate multiple shifts or have heavy machinery running daily.
Using commercial solar panels helps in:
- Stable electricity for business hours
- Reduces your dependency on external energy sources
- Protect you from rising tariffs on electricity
- Avoid any interruption due to electricity cuts
Reduce your electricity bills
The commercial solar panel systems help businesses reduce electricity expenses. Solar helps you generate electricity in your space and reduce your grid electricity bills by almost 30-50% based on your consumption pattern and solar panel size. The commercial rooftop solar systems in India are known for giving better output using an existing space.
You can enjoy free solar energy after the initial cost of Commercial Solar Installations is covered. The usual payback period for commercial solar panels is around 3-5 years. Once you recover the initial cost, you’ll have access to free electricity for 20+ years.
Uninterrupted operation cycle
Fuel-based energy depends on the environment and the geopolitical conditions. Thus, if any factor changes, the electricity supply can take a hit. Thus, by switching to solar, you can ensure an uninterrupted supply of energy to keep the operation cycle running. It helps you reduce your losses and optimize resource utilization.
Sustainability-focused brand image
Whether you are a startup looking for investment or a business that needs loyal customers, a sustainable business model is your key to success. As more consumers are becoming eco-conscious, they are switching to sustainable brands. With commercial solar panel installation, you can improve your brand image and get a competitive advantage. You are also contributing to making India achieve its net-zero target by 2070.
The ROI Of Commercial Solar Installations
While the non-financial ROI is good, what really matters is the monetary ROI that you can enjoy by installing commercial solar panels. The following are three prominent ROI of commercial solar panel installation.
Free electricity after the payback period
The initial investment of installing a commercial solar panel system is high. However, once the initial cost is covered, you will have access to free energy for the rest of the lifecycle of the solar panel.
High-efficiency commercial solar panels with TOPCon or Bifacial technology have a lifecycle of more than 25 years. Once the electricity cost saved by the solar system is equal to the cost, your payback period is over, and you’ll have access to free solar energy.
Tax benefits with accelerated depreciation
The government of India is promoting the adoption of solar energy on every level, including the business. Therefore, under Section 32 of the Income Tax Act, 1961, businesses can claim 40% accelerated depreciation on solar assets. Thus, you can reduce taxable income and reduce the payback time.
Net metering with the local grid
Net metering is the perfect solution for industries with fluctuating energy needs. You can divert your solar energy to the local grid in exchange for reward points. These reward points can be used to offset future electricity bills and reduce your bills in peak season.
Sunora Solar: Your Trusted Partner for Commercial Solar Panel Installation
Sunora Solar is among the leading and reliable manufacturers of solar panels in India. We are a name that stands out when it comes to the installation of dependable commercial rooftop solar systems in India. Our services range from EPC solutions to high-quality inverters, and we make sure to install a perfect solar system according to your specifications. More than 5200 customers have already reaped the benefits of solar energy through our assistance, and so can you. Get in touch with us to learn more.
Conclusion
You must have heard the wonders of solar energy, but what ROI does it offer? Well, it isn’t limited to just the tax benefits and electricity bills you save, but also your better brand image and uninterrupted operations. Solar energy can help commercial companies reduce their reliance on local electricity and build a more sustainable business. Sunora Solar is here to assist you with commercial solar panel installations. Contact us to know more.
FAQ
Are commercial solar panels a good investment for businesses?
Yes, solar panels are one of the best investments for business. It helps the company become more sustainable and gain positive points from customers and investors. Furthermore, it helps them reduce reliance on local electricity and reduce their electricity bills. If they opt for a large solar system, they can get free electricity for more than 20+ years after the payback period.
What is the ROI of commercial solar systems?
If we talked based on monetary ROI, you can enjoy free electricity after the payback period is covered. For most companies, this payback period lasts for 3-5 years. Additionally, you also get other non-monetary ROIs like energy independence, positive brand image, and uninterrupted business operations.
Which industries can benefit from commercial solar installations?
Manufacturing units, warehouses, hospitals, hotels, malls, corporate offices, educational institutions, and SMEs are a few businesses that benefit the most from commercial solar panel installation. Sunora Solar can help you install high-efficiency commercial solar panel systems based on your needs. Contact us to know more.
Do commercial solar panels work in a cloudy environment?
Absolutely, solar panels can still be used commercially in cloudy regions, although the energy production will be less. The average yield will probably depend on the climate. Nevertheless, it is possible to employ batteries for keeping the excess power produced on sunny days and using it during the night or when the solar system is not producing the needed energy. Additionally, you can opt for net metering to access electricity in a cloudy environment. Net-metering can help you reduce your electricity bills as well. Contact Sunora Solar for net-metering of your solar system.
