Is solar power a good Investment for your building?

October 9, 2019

With low costs, the levelized cost of energy, or the average amount that you will pay for each unit of electricity that your solar system will produce over its lifetime, is between $0.06/kWh and $0.08/kWh including the federal ITC, according to an article from Building Operating Management on the FacilitiesNet website.

With the average commercial utility rate in the United States at $0.1053/kWh, a solar system will be cost effective for many locations around the country.

But cost isn’t the only reason to invest in on-site solar. Having solar on your building lets everyone know that your company is walking the talk when it comes to sustainability goals, which is hard to showcase with efficiency and off-site solar. It can also help attract and retain employees, as 90 percent of people now say they wish to work for a company with a strong green reputation.

It seems that solar projects are best suited to businesses that have higher electricity rates (greater than $0.08/kWh), own their own building, have access to capital, have corporate sustainability goals, and plan to stay in their building for the long term. However, there are actually ways to make solar work even outside of this ideal scenario.

Read the article.




See the latest posts on our homepage Share

Topic Area: Energy and Power


Recent Posts
Recent Posts

Mask Use in Healthcare Taking Toll on Environment


Adopting reusable masks can dramatically cut environmental impact of PPE waste

7/23/2021

Savings, Security Driving Cloud Migration


Using cloud-based software becoming increasingly popular among healthcare facilities

7/23/2021

$44.7 Million Project to Develop Texas Hospital


Psychiatric hospital planned for Dallas-Fort Worth area

7/23/2021

Penn Medicine’s New Pavilion Focuses on HVAC Efficiency and Sustainability


New 1.5 million-square-foot Philadelphia hospital set to open in fall of 2021

7/22/2021

$43.7 Million Dollar Project to Rebuild Florida Hospital Complete


The previous hospital was destroyed by a 2017 hurricane.

7/22/2021





Post Comment




FREE
NEWSLETTER

News & Updates • Webcast Alerts • Building Technologies

All fields are required.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.