What Solar Energy Can do For Your Commercial Real Estate

Solar has become the mainstream and is starting to shed its “alternative” identity. Even large corporations are trying to go fully solar. For example, Target currently has 200 MW of solar installations, and Walmart isn’t far behind, with just under 150 MW installed to date. If you own a commercial real estate property, you might be wondering how solar can benefit you. Most people know going green is good for our environment, but that’s not the only plus side to going as solar as possible. We will now explore the various ways going solar can help your commercial real estate property.

Cut Your Utility Expense Costs

Thanks to solar installations, the expense involved in utilities will be on the decline. While the panels themselves are an investment, the returns will save you on costs in the long run. From the reduced cost of electricity to the lower water heating bills, the economic gains that come with going solar cannot be overlooked. Not only are these investments beneficial in the long term, but the long term isn’t that far off. In just 3-5 years, a return on investment of thousands, if not millions, of dollars will already have been generated.

How Lower Utility Costs Translate to More Tenant Satisfaction

While your tenants will often be paying for their own utilities, by installing solar energy, you are also keeping them happy. When it comes to owning real estate properties, you aren’t the only one who sees the benefits of those lower utility bills. Real estate properties that have solar power installed have much lower vacancy rates than average, according to the Department of Energy. And your tenants won’t have to fear sporadic energy bill fluctuations. They also won’t have to worry about power outages, as a backup system can be installed to keep your property up and running no matter what electrical issues are befalling the neighborhood.

More on Backing Up that Energy

As stated above, a backup system will keep your property’s energy stable, to avoid worrying about your tenants facing blackouts and chewing you out for it. That’s not the only way extra energy can help you. You can also use your excess energy in programs that offer incentives for going solar. Rebates in certain states, tax credits, and even incentives directly from your power company can help you earn money just for having solar energy installed.

The Aesthetics of Going Solar

When running a real estate property, taking the aesthetics of your building into consideration is a huge factor to consider. Because of this, you may be wondering if going solar will decrease the aesthetic appeal of your building, resulting in fewer tenants. However, solar panels are typically installed in areas where it won’t cause an eyesore. Places like the roof of the building or a nearby field will allow you to keep the building’s integral design while still going solar.

The Environment Impact

While most people know that going solar does do good for the environment, the specific damage done by office buildings is a category all in itself. These buildings are accountable for up to a quarter of the greenhouse gas emissions in some states. By going solar, you can help decrease the massive impact a real estate building has on the environment.

Want to learn more about going solar and designing the perfect solar system for your specific lifestyle? Check out the HahaSmart blog to learn more.

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