If you own a business in Utah, commercial solar power has much more to offer than just a massive drop in your electricity costs.
In fact, installing a photovoltaic energy system can provide a variety of lucrative advantages — which is why more Utah businesses are investing in high-efficiency commercial solar panels. And joining them could be in your best interests, regardless of what type of enterprise you own.
A commercial PV energy system can provide power for an office building, auto dealership, laundromat, gas station, hotel, convenience store or restaurant. Warehouses, manufacturing facilities, breweries, wineries, and farms can also run on photovoltaic power. Going solar can benefit any Utah business owner, and with the costs of PV equipment at an all-time low, commercial solar power is a low-risk, high-return investment.
Utah Commercial Solar Energy Benefits
We could spend all day extolling the virtues of installing solar panels at your Utah business. The advantages are many, but these are the most compelling reasons to invest in commercial solar power:
Install a commercial photovoltaic system, and your electricity costs will plunge. You may even eliminate your monthly bill, freeing up more money for other Utah business interests.
The federal government and the state of Utah offer business owners financial incentives for adopting solar power — and by claiming both tax credits, you can drastically cut your overall PV energy system costs.
Going solar is a sound business decision, as it’s basically a one-time investment. Photovoltaic equipment requires little maintenance, and once installed, a commercial solar energy system can provide you with free power for decades.
These days, many consumers prefer to support businesses that care about environmental concerns. Once you switch to solar power and reduce your reliance on fossil fuels, you can generate good press by marketing your Utah business as eco-friendly.
The return on investment is yet another excellent reason to install a commercial solar power system — but since the ROI is so impressive, it deserves a deeper look.
Expected ROI for Businesses That Install PV Energy Systems
If your investment broker contacted you today and told you about a stock or fund that would reliably pay you 10% to 15% every year for at least the next two decades, what would you say?
Once you got past the notion that the offer was too good to be true, wouldn’t you tell them to hang up the phone and buy, buy, BUY? Of course you would!
When you install in a commercial solar energy system, that’s exactly what you’re doing — making a great investment. In terms of reward, a photovoltaic system beats mutual funds, stocks, bonds, money market accounts and other low-to-mid-risk investment opportunities.
As a matter of fact, for every dollar you put toward a commercial solar power system, you’ll see a return of $1.50. That means a PV energy system can free up money for other business projects and investments — and that benefit will last for the lifetime of the system, which is likely to be at least a few decades.
Understanding Commercial Solar Energy System Costs
The cost of installing a commercial photovoltaic system hinges on one primary question: How much power do you want to generate?
The cost of PV panels and other system components has never been lower than it is today. In fact, prices have fallen to a level that most industry experts believe is the rock bottom — which means now is the best time to invest.
You can opt to generate some or all the electricity your business needs, and the larger the PV energy system you install, the greater your initial investment costs.
Other factors, including the ease of installation and the configuration of your system, also affect the price.
Fortunately, you can take advantage of lucrative financial incentives for adopting commercial photovoltaic power. These include:
Federal Solar Investment Tax Credit
Start your project by the end of 2020, and the federal solar investment tax credit (ITC) will reduce your income tax liability by 26 percent of your PV system costs — and there’s no cap.
Utah’s Commercial Investment Tax Credit for Solar PV Systems
In addition to the federal ITC, you can claim the Utah state commercial investment renewable energy systems tax credit. The value is calculated as 10 percent of your total PV system costs, and you can claim up to $50,000.
Technical Requirements for Commercial Solar Power Installation
Before investing in a photovoltaic system to power your Utah business, you’ll need to determine the best installation approach.
The roof can be the ideal place to mount solar panels — if it has adequate support and room for the PV system components. The orientation and pitch of your roofing also matter, as the solar panels must be able to capture sufficient sunlight. And if the roof has obstructions such as vents, chimneys and HVAC equipment, these may interfere with electricity production.
What if your roof isn’t suited for solar panels? In that case, you can go with a ground-mounted PV installation, placed in a sunny spot on your Utah property. Or depending upon the type of business you own, solar shade awnings or a photovoltaic parking lot canopy might serve your needs.
Financing for Utah Commercial Solar Power Systems
While you can purchase a commercial photovoltaic system with cash, you do have other options.
One is to take out a solar loan. Payments are typically less than what Utah business owners pay in monthly electricity costs before PV system installation, so you still come out ahead.
If you prefer, you can go with a solar lease. Leases often have little to no upfront costs, which can be quite beneficial for Utah businesses lacking capital. With a lease, you won’t own the solar power system, but you will enjoy greatly reduced energy costs.
Commercial Photovoltaic System Installation Process
When you start looking for a reputable commercial solar company, Utah provides you with a dazzling array of choices. Before you decide, consider that PRVL Energy is a locally owned and operated SunPower Energy Elite Dealer.
Our expert team designs highly efficient, cost-effective photovoltaic systems to power your Utah business. We help you explore your options for solar panel placement and PV system equipment, and with PRVL Energy, installation will be a breeze.
Turn to PRVL Energy, and you’ll be generating your own electricity in no time — and you’ll have a precision-engineered photovoltaic system that offers long-term reliability and decades of impressive returns for your Utah business. Contact us to get going with your commercial solar power project today!