There’s been quite a bit of talk about solar energy systems and their advantages lately. Between calculating costs and benefits, and understanding solar financing models, there’s a lot of information to take in.
Countless questions can come up when you’re trying to make a decision about a solar power system, including the following:
You may have more basic questions, such as:
- Do I need solar?
- What solar financing solutions are available?
- How do I find out about solar panel loan interest rates?
Or you may already know that you need solar panel for commercial buildings and you have specific questions:
- How much does a 100kw solar system cost?
- What if I need a 200 kw solar system?
Or, you may even want to know:
- Is the solar system capitalized?
Ok, that last one was a joke, but the incredible potential of harnessing solar for commercial buildings as well as residences is nothing to laugh at.
There are potentially enormous advantages for those who are ready to take the plunge into this area of energy use.
Benefits of Solar
- Reduce monthly electric bills by replacing some of that energy with solar power.
- You won’t be at the mercy of the changing cost of fuels such as oil and gas.
- You can take advantage of the Federal Investment Tax Credit, which is a 30% tax credit for newly installed solar energy systems.
- Depending on the state in which you live or do business, you may also be eligible for additional state tax credits or incentives.
- The appeal of greener, cheaper solar energy will increase value of your property.
What options do I have for solar financing solutions?
Solar energy demand has been increasing, and commercial solar financing companies are easy to find.
Cash is one way to pay for one of these systems, but a lot of people either can’t or don’t want to choose this option. Even if you can’t afford to pay for an entire system up front, these financing companies can usually help identify a solar financing model that is best for you.
If you’re not paying cash, financing will fall into two basic categories: loans and leases. Each option has its strong points and its drawbacks, so it’s important to know what you need and what you can afford.
Benefits of a loan:
- Provides the money to purchase if you don’t have the full purchase amount up front.
- When the loan is paid off, you own the equipment and your solar energy is free.
- Finding out about solar plan interest rates online is fairly easy. You’ll probably be able to find one that has a free solar financing calculator without much effort.
Pitfalls of a loan:
- If you don’t have the revenue to make timely payments on the loan, you could lose the equipment and any money you put into it.
- It can be easy to lose sight of the actual cost of the loan if you’re focused on just the monthly payment. Again, a solar financing calculator can help you see the full cost of your loan.
Benefits of a lease:
- The initial cost is usually low, and yet you still reap the benefits of reduced energy costs.
- The monthly cost is usually lower than a loan.
- At the end of the lease you may be able to purchase the equipment for a reasonable buyout.
Pitfalls of a lease:
- The owner of the equipment will be the leasing company. That company may be the one to benefit from any incentives or rebates.
- It may be difficult to sell your property if your solar equipment is still under the lease contract. Review your long-term goals to make sure you avoid winding up in this situation.
With the right information and guidance, you’re sure to find a financing arrangement that works with your plans.
Larger Commercial Systems
How much does a 100kw solar system cost? What about a 200 kw solar system?
Systems of this size are for commercial use and would involve installing several hundred individual solar panels. The most important issues are the size of the facility you want to power and the amount of roof or other space you have for the panels.
The bottom line is that a contractor would need to inspect and measure the area before preparing a quote.
You would also need to obtain solar panel loan interest rates and solar financing models from an experienced professional who can fairly assess your position.
These factors will determine the cost of your system. These costs would then be offset by the much larger energy savings from such a large system.
Well, is solar system capitalized?
No, it’s not. Unless, of course, it’s at the beginning of a sentence. These are the jokes, folks.
Other Ways to Benefit From the Boom in Solar Energy
The demand for solar energy is expected to only increase over the next few decades. As more businesses become wary of shifting energy prices and fluctuations in supply, solar panel for commercial buildings will become a more necessary energy solution.
With commercial solar financing companies and opportunities becoming more commonly available, it will also become easier to access the benefits of solar.
For those with a background in construction and electrical work, a solar panels business opportunity could be a great move.
At a time when energy prices are uncertain, the savings offered by a solar panel business seems to be ideal. Business owners interested in alternative energy sources will be increasingly interested in solar for commercial buildings.
The increase in available financing will encourage solar panel business growth. These developments will improve the environment for small business owners and their communities. If you’re prepared, a solar panels business opportunity may be a good idea for you.
The future of solar energy is promising. You may use this incredible resource to reduce your own energy bills or you may run a business that helps others take control of their energy costs. Either way, this is a great time to get started.
