Solar energy is one of the best ways to produce green energy. You can install different solar energy systems depending on your requirements. These are of two types: one is commercial, and the other is residential. You can use either of these two to get quality solar power for your home. But did you know that having solar energy can also provide incredible ROIs? Here’s how!
What are 4 best ways to increase the ROI of your commercial solar systems?
When your solar system produces more energy than you consume, that is known as “surplus electricity.” This is electricity that is generally sent directly to the local grid system. When such additional energy is generated, some service providers give you credits or incentives based on the energy your solar panels have sent to the grid. Utilizing solar incentives with surplus electricity is the ideal way to gain more from your commercial solar energy systems.
Solar energy system size
Having a larger solar energy system is not always more efficient. If that is the case, then the energy produced will be more than you can consume. Though there are solar incentives, they might not always work out. You will end up with months’ worth of additional energy credits that cannot be used and will go to waste. This is why it is better to pick a solar system according to your home or commercial site. This way, you are not letting your precious money or energy go to waste.
Solar panel orientation
If you want to increase the ROI for your solar systems, then you must take solar panel orientation into consideration. This plays a crucial role in optimal energy production. We all know that if sunlight does not fall directly on the panels, energy cannot be produced. So, finding the perfect place to install your solar PV panel is essential. This helps you produce more energy, which equals a better return on investment (ROI) for solar panels.
Investment tax credits
Every year, the government encourages people to adopt solar energy and explains how it can benefit them. Therefore, they provide tax credits to people who start their solar journey. Since 2005, people can receive 26% tax credits until 2022 and 22% tax credits in 2023 for solar panel installation. This is known as an investment tax credit (ITC) which is available for both homeowners as well as businesses.
So, what are you waiting for? You can also start your solar energy journey now with SouthWest Sun Solar. Solar system installations are simple and quick here. Besides this, SouthWest Sun Solar also hires workers who are multilingual, so you can communicate with us freely. Please visit our website to get your solar panels installed instantly!