In 2018, only 1.6% of commercial buildings made use of small-scale solar. Many believe this number is now increasing in the U.S. due to the clear benefits smart solar technology can offer businesses these days.
Smart solar technology is an innovative approach to harnessing the power of the sun for commercial properties. This technology includes a range of sophisticated systems and devices that are designed to optimize the performance of solar panels. This can make such properties more efficient, cost-effective, and reliable.
In this article, we will explore how smart solar technology can add value to your commercial building and what to look for in solar panels. Let’s get started.
Solar Panels and Commercial Property Value
Energy cost savings are a major selling point for potential buyers. Solar panels can significantly reduce your energy costs, making your commercial property more attractive to buyers who are looking to save money on their monthly bills.
Increased demand for properties with solar panels is also a factor that can boost property value. As solar energy becomes more popular and people become more environmentally conscious, there is a growing demand for commercial buildings with solar panels. This increased demand can lead to higher property valuations.
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Government incentives can also make solar panels a more attractive investment. Many states offer incentives for solar energy, such as tax credits or rebates, which can increase the value of a property with solar panels.
Solar panels also have long-term value. They can last for decades, providing long-term value for property owners. This can be a selling point for potential buyers who are looking for a location with a durable and reliable energy source.
Do Commercial Properties with Solar Sell Faster?
Not only can properties sell for more but they can also potentially sell faster due to the incentives we have discussed above. If people can save money on energy bills in a commercial property, then they are going to want this advantage sooner rather than later.
Furthermore, if a seller has installed solar panels, buyers will know that the entire roof structure of the property they are going to buy will be sound. This means that they might want to bypass an inspection concerning the property’s structural integrity. This could mean the selling process will be speeded up.
What to Look for in Solar Panels
You might not be planning to sell your property right away, but you may have a future date in mind. If this is the case, getting solar panels might be a solid investment opportunity for you.
The reasoning for this is that you can get low-cost energy in the time you continue to use your commercial property. Then, when it comes to selling your property, you can expect to sell it for a higher asking price and faster!
The question is if you are going to invest in solar panels, what should you look for? Here are some considerations:
Solar Panel Efficiency
One of the most important factors to consider when choosing solar panels is their efficiency. The efficiency of a solar panel refers to the percentage of solar energy it can convert into usable electricity.
The higher the efficiency, the more electricity the solar panel will be able to generate. While more efficient solar panels may cost more upfront, they can generate more electricity and may be a more cost-effective option in the long run.
Solar Panel Durability
Solar panels are a long-term investment. So it is important to choose a durable option that will last for many years.
Some things to consider when evaluating the durability of a solar panel include the type of materials used, the warranty offered, and the manufacturer’s reputation. Also, read online reviews.
Solar Panel Size
The size of the solar panels you choose will depend on the amount of electricity you need to generate. As well, it will depend on the amount of space you have available for installation.
It’s important to choose solar panels that are appropriately sized for your home. This way, you can ensure that you are able to meet your energy needs.
Solar Panel Warranty
A solar panel warranty is an important consideration. It can protect your investment in the event of any defects or problems with the panels.
Look for a solar panel with a long warranty period and good coverage for things like defects and performance.
Solar Panel Brand Reputation
The reputation of the solar panel brand can also be an important factor to consider. Look for a brand with a good track record of quality and customer satisfaction.
It can also be helpful to do some research and read customer reviews to get an idea of the brand’s reputation. A quick Google search should bring up loads of info.
Solar Panel Cost
Finally, consider the cost of solar panels when making your decision. While it is tempting to go with the cheapest option, keep in mind that the quality and efficiency of the panels can vary significantly.
Look for a balance between cost and quality. By doing this, you ensure that you are getting good value.
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Incorporating Smart Tech
There are other technologies that can work alongside your solar panels to help increase your commercial property’s value.
Smart thermostats can help you save money on energy bills. They can do this by learning your temperature preferences and automatically adjusting the temperature to save energy.
Smart lighting allows you to control your lights remotely and set schedules for when your lights should turn on and off. This can help you save energy and add convenience to your daily routine.
Smart security systems can help you keep an eye on your property while you are not there and alert you to any suspicious activity. This can provide peace of mind and make your property more attractive to potential buyers.
Smart appliances, such as smart refrigerators and washing machines, can help you save energy. You can also reduce your carbon footprint using such appliances.
Smart Solar Technology Is the Way Forward
With smart solar technology, it is possible to boost the value of your commercial property. Potential buyers are now understanding all the benefits of this technology and they may be willing to pay a premium for a property that has it.
At Property Manager Insider, we help property managers make smart decisions about their commercial properties. Click here to learn more about what we can do for you.
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Property managers can use BidSource to have our team find a commercial solar electrician ready to assist with your solar needs. Share your solar needs using the form below and our team will be in touch with a qualified electrican!
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