It’s true that investing in the installation of solar panels comes with many benefits for both small to large corporations, and homeowners. One of the major benefits you will find is that you will be able to sell or rent out your properties at a higher price than standard properties that are running off of non-renewable energy, for example, fossil fuels. If you are trying to find a way to increase the value of your property, having solar panels installed is a great selling point to start with.
According to Zillow, homes with solar panels will sell for 4.1% higher than homes without. Take into consideration that homes will have a much smaller scale solar system compared to commercial properties – the percentage would only increase for larger scale properties and systems.
Depending on who you speak to and what you are looking for, there are different ways you can take advantage of your solar panels in order to list your properties at a higher value.
Two of the main ways they will increase the value is because:
- You will get an overall reduction in overhead costs for your business.
- An easy selling point and way to differentiate your property, as you will find many buildings still do not have it for offer.
Reduction in Overhead Costs
After the initial investment of having solar panels installed, you will essentially be getting free energy from what the solar panels generate. Over the 20-30 years that the panels last, you will have paid off the cost of the investment, as well as saving money that would have been spent on electricity otherwise. Solar power is currently the least expensive form of energy, along with wind power.
For a commercial property, even if you were to save 1,500-2,000 USD per year, you will save approximately 37,500-50,000 USD if we base it off the 25 year average. However, depending on the scale of your property and roof, it is possible to save far more. Especially with the current energy cost crisis, having a way to reduce electricity costs is something a lot of people will find value in.
You can check an estimate of how much money (THB) you can save by installing a solar system with Constant Energy with our interactive slider on our home page.
Easy Selling Point
Renewable energy such as solar power comes with many incentives that you can use to push the value price of your property. With global warming being a massive and continuously growing problem for years now, having commercial property with solar power gives business owners the opportunity to have their part in fighting the climate change issue and helping the environment.
In addition to that, using renewable generated energy lets whoever is using the property to take advantage of having a green branding. In order to have a more sustainable future for everyone, we need to be conscious about the energy we consume. A lot of energy is consumed every single day from switching on a single light bulb, to operating heavy factory machinery, and having the option to use solar power to save energy is a step to take to becoming an eco-friendly and green brand.
Read more about why it is important to conserve energy.
How to Size a Commercial Solar System
There are a few steps and questions you might want to answer while determining the size of your commercial solar system. You will want to assess what your budget is for the project, as well as assess how much available space you have that can uphold solar panels.
Some other factors that might affect the size of a solar system include:
- The amount of sunlight exposure
- The angle that the panels tilt at, also known as the orientation array
- The efficiency of the manufacturers panels
- Any plans for future expansions
Once you are able to evaluate these factors, you can begin to calculate your required solar system size. Your solar provider should be able to help you with this process.
You will need to know the numbers for:
- Your estimated energy usage in kilowatt-hours (kWh). You can usually add up your usage from your electricity bills, or by checking the energy usage meter in your property.
- Find the amount of peak sunlight hours that your area gets. This will vary depending on the country and climate conditions throughout the year, etc.
- The solar panels efficiency factor, which your solar provider can give to you.
Using the numbers you find from the above, you can figure out your solar system size by the calculation below.
(Daily kWh ÷ average sun hours) x efficiency factor = DC (Direct Current) solar system size
We will use the following scenario for numbers as an example:
You use an estimated 35kWh, living in Bangkok with peak sunlight hours of 5.5 hours, and the solar panels have an efficiency factor of 1.15
(35kWh ÷ 5.5average sun hours) x 1.15 = 7.3kW DC (Direct Current) solar system size
Convert your answer (7.3kW) to watts by multiplying it by 1,000. This will give you the answer of needing a 7,300 watt solar system.
7.3kW x 1000= 7300 watts
As we can see, solar panels are a high value technology that will add a lot to your business. Whether you are looking to increase your property value to be able to sell it at a higher price in the future, or you just want to add extra value and positive branding to your business, turning to solar power is a good way to go. Investing in clean energy will give you the freedom to spend your finances elsewhere thanks to renewable energy guaranteeing you will reduce your energy costs, and you will be making a positive impact on the environment.
Constant Energy is proud to offer a free installation for solar power plants that meet our minimum rooftop space requirement of 5000 sqm. This helps our clients take advantage of the benefits of solar energy right from the start, using long-term partnership commitments through commercial rooftop solar PPA agreements.
Receive a quote for a Solar PPA from Constant Energy according to values from your factory or commercial project.