Going green. It’s a trendy thing for businesses these days, and there are many ways to do it. Going solar is one of the options available to your business. One that can offer quite a few benefits worth considering. But are the benefits of commercial solar panels worth the investment for the average business. With energy costs soaring (and continuing to rise), solar energy might appear to be a tempting solution for your business. Just make sure you go in with your eyes wide open. Consider these key details so you can make an informed decision about whether solar is the right choice for your business.
Benefits of Commercial Solar Panels
Aside from the “feel good” benefits solar energy delivers, there are many potential benefits of commercial solar panels for businesses to consider. The obvious first benefit is the potential for saving money on energy costs. After all, the sun is one large source of renewable energy that is free to all those with the capabilities to harness its power – given the right set of circumstances. Plus, many states offer solar incentives for commercial enterprises (and tax credits) that make it even more appealing. For instance, the state of Missouri offers a total of 67 programs and incentives to encourage renewable energy adoption.
The other term you want to consider when assessing the benefits of solar power for your business is, “net metering.” Net metering is a term used to describe the billing tool that determines the value of your contribution to the energy grid and how much of a credit your business receives based on that contribution. The better you understand the potential value of going solar in your state, based on the hassles and red tape (not to mention the costs of tying into utility lines) compared to the financial benefits it has to offer, the wiser choices you can make. The Interstate Renewable Energy Council recently released its “Freeing the Grid” scorecard which, unfortunately, gives the state of Missouri an “F” when it comes to net metering for business.
Protecting Your Investment – Insurance Essentials
Another cost that many businesses fail to consider when calculating the potential value of going solar is the cost of protecting that investment with adequate insurance. The truth is that you’ll need to invest in several insurance products to make sure your business has sufficient protection, including the following:- Renewable energy business insurance
- Business property insurance for solar panels
- Umbrella insurance for solar panels
Solar panels, for instance, are not small investments for businesses. When they are damaged due to weather or other covered claims, you’ll need to work with an insurance agency you trust, like Arnold Insurance, to handle the claims process.
Battery Backup Systems
Another investment that will help your business maximize the potential value of your solar energy is through battery backup systems that allow you to store some or all of the excess energy your solar panels generate for later use. These systems allow your business to continue operating, at least on a limited basis, if the local power grid fails or if there is a power outage to contend with.
These systems are not inexpensive. However, those who have experienced prolonged failure of local power grids agree that they are invaluable – as they allow businesses to continue essential operations when other businesses must close down.
A Quick Checklist – Things to Consider Before You Buy
If you’re ready to jump on board after considering all the details above (and pricing them out), there are a few other key details to keep in mind before deciding to buy. This checklist is one you will want to consult often before you buy.
What’s the condition of your roof?
Does your roof face a direction that allows maximum sun exposure? Is it in need of repairs? Since most solar panels are placed on top of roofs, you’ll want to make sure your roof is in excellent condition to support the panels and that your roof is positioned in a manner that allows for plenty of exposure to the sun each day – with minimal interference.
Your Local Utility
Local utility companies have their own policies related to the costs of installing and connecting solar panels to the local energy grid. Depending on the company (as well as state and local laws) those fees can feel punitive on the front side. Of course, your business will also receive credit for the electricity your solar panels generate. It is best to understand, upfront, how those credits are determined and distributed to you.
Warranty
The warranty question can be a bit tricky depending on whether you’re purchasing your solar panels or leasing them. If you own them, you’ll want to know the specifics of warranty protection on the solar panels themselves, on the installation of your solar panels, and on inverters.
Point of Contact for Maintenance
When maintenance is needed, you need to know how to contact and when those professionals are available to contact. It is best if there is a 24/7 contact to work with for maintenance as well as emergency repairs when needed.
Weather
Because solar panels are vulnerable to various weather conditions and patterns, it’s a good idea to determine what types of risks your panels may face (and issues that may affect your solar insurance costs to protect those panels). This includes things like snow and ice, hailstorms, lightning, tornadoes, and even how much sun your area averages per day and how many sunny days you average per year (the more sun the better when attempting to harness solar power).
It is never a bad idea to get good information before making a large decision about solar and other renewable energy options. Since so many key details about solar power and its potential benefit to your business are location specific, make sure you also talk to your insurance account executive before committing. That one step could save you valuable time and money if solar is not the best solution for your business – and if it is!