There are a few different ways you can think of value. You might consider the resale value of your property. You can also consider how your property serves to reduce the overhead costs your business incurs.
We’re going to look at how solar power can help on both of these fronts. More specifically, we’re going to analyze how off-grid solar power can boost your property’s value. It’s worth mentioning that grid-tied power can increase a property’s value too. We’re looking at off-grid power today for two reasons:
- Government solar incentives are unreliable - some readers might not have access to grid-tied solar and net metering.
- Off-grid solar is more accessible and can be used for smaller-scale projects.
With all that in mind, let’s look at how solar can increase your property’s value.
Solar power lowers your overhead costs
Every bit of electricity you generate from solar panels is electricity you won’t have to pay for - it’s as simple as that. Solar panels can pay for themselves in a matter of years - as it stands, solar-generated power is the least expensive form of electricity in history.
Generating electricity with solar panels serves to increase your property’s value in two ways. The value of lower overhead costs is obvious. Better still, if and when you decide to sell your property, you can use the solar panels as a selling point - the new property owner will, after all, benefit from a reduction to their overhead costs.
You’ll have to do a cost-benefit analysis to determine whether or not the reduction of overhead costs and increase to your property value will be worth the cost of solar. Fortunately, in most places, it is - when coupled with government rebates, solar panels can pay for themselves in a short number of years.
Solar power is environmentally friendly
Green is what comes to mind when most people think of off-grid solar for businesses. Being environmentally conscious doesn’t necessarily increase the value of your property on its own. Fortunately, a number of incentives have aligned themselves. For many business owners, green means green (if you know what we mean).
These incentives include government rebates for green design and a new wave of socially conscious business owners who are willing to pay a premium for green properties. It’s important that you find a commercial real estate agent who has experience selling green properties - if you do, solar energy can be a tremendous boon.
Solar power for self-sustaining devices
You don’t need to get an entire solar array to increase your property’s value. You can use solar panels to power only certain devices - off-grid solar LED lighting systems can be used, for example, to provide lighting in your parking lot. The lights will be triggered to turn on when the sun goes down - and having absorbed solar energy all day, they’ll be powered through the night.
That means your parking lot lights won’t add a cent to your power bill.
Small-scale solar for lighting is perfect for businesses who want to increase the value of their property without committing to a large solar array. As our friends at SRB Energy like to say: “Solar power has something for everyone”.
If you’re interested in solar lighting as a way to increase your building’s value, check out our product page. Solar power will continue to grow in popularity in the coming years. We predict that renewable energy will be an important factor in the value of commercial properties for sale as government incentives continue to offer support toward green businesses.
No matter how big or small your business is, solar power can add to your property’s value!
About the Author: Pat Gray provides comprehensive marketing solutions for busy entrepreneurs. Some of his most recent work has been alongside the content team at SRB Energy. Pat is keenly interested in writing about his experience and sharing advice with other businesses.