Why solar energy is effective for commercial buildings

The prices for solar photovoltaic panels have plunged as a result of greater efficiencies in manufacturing and in the technology itself. Increasing competition among a growing number of suppliers has also helped reduce costs.

The forces are expected to drive prices further down in coming years, making solar PV installations a brighter investment prospect for commercial buildings. Solar power applications are “transitioning from the world of pretty showcases into actual, practical, functional uses on buildings.

Currently, though the market has grown significantly, solar power supplies less than 1 percent of the electricity used in the United States. A capitalintensive proposition, like most renewable energy technologies, payback periods on the high end tend to range from 20 to 25 years.

HENCE HERE ARE A FEW REASONS WHY YOU SHOULD CONSIDER GOING SOLAR :

Prices have dropped enough to be financially advantageous. Your business can lock in lower electricity costs.

Your business can then have more predictable electricity costs.

You might not need any upfront capital.

Many utilities need to hit RPS (renewable portfolio standard) goals and, in some cases, lower ‘peak time’ generation costs. Doing so can help your company achieve sustainability goals.

Clean energy trends, released earlier this spring, found that the global market for solar photovoltaics ballooned from just $2.5 billion in 2000 to $71.2 billion in 2010.

Installation prices, which include labour, margin and soft costs associated with permitting, inspection and interconnection, have been a challenge for the industry. Research contend that driving out the waste and inefficiencies related to installation will bring total systems costs down, cut the length of time for return on investment and bring solar power systems within reach of more companies.