Solar arrays are becoming an increasingly popular (and affordable!) alternative to traditional energy. The marketplace is ever-expanding, and it can be difficult to gauge your business’ readiness when considering solar. We have compiled the below list to guide you as you begin your solar journey.
First, you’ll want to ensure that your current electric supply contract allows you to install solar. Some may have language against this, and you could be charged a penalty. Through Viridi’s partnerships, we can help evaluate your current supply contract or secure a future contract that will allow for on-site generation.
Second, checking for incentive eligibility is an important step in building your solar project. We have access to several maps and databases that can help qualify your business for different funding opportunities. If you qualify for the Rural Energy for America Program (REAP), you could obtain a grant for up to 50% of your project costs. Additionally, the 30% Investment Tax Credit (ITC) can be worth up to 60% of your project cost if you meet certain criteria.
Third, consider the age of your roof. Depending on its age, it may need to be replaced before a solar array can be installed or you may need to consider a ground-mounted array for your project.
Fourth, it’s important to calculate the payback period of the potential project. Solar arrays are a capital investment, and you’ll likely consider ROI when making the decision to move forward. Viridi customers have access to our tools that will factor in yearly energy savings, tax or other incentives, as well as financing when calculating payback.
Finally, track your impact! More and more businesses are facing pressure from customers, investors, and other businesses in their supply chain to cut carbon emissions or hit certain green energy goals. Recording your pre-solar usage and tracking the reduction once the array is installed allows you to accurately report your sustainability efforts.
For more information or assistance exploring your solar options and the solar market, please contact Claire Wilson (email@example.com).