Top corporations across America are pouring resources into developing solar energy, including some familiar names such as Apple and Amazon, and supporting these investments with lobbying. Just recently, Pepsi, McDonalds and around 30 other companies sent a letter to U.S. congressional leaders in support of renewables, asking for cash stimulus and an extension of the Solar Investment Tax Credit (ITC).
Your company doesn’t need to be a large multinational corporation with deep pockets to take advantage of solar energy. Regardless of the size of your company, there are several levels of participation that require anywhere from zero initial capital outlays to owning and operating your own solar panel system.
If your commercial rooftop has the space and specifications, renting it out for a community solar project will generate extra monthly lease income for your business that can last for decades.
OYA Solar will provide a free assessment of your businesses’ rooftop prior to offering a rooftop solar rental, and once the lease is signed, there’s nothing left for you to do but sit back and watch the project take shape. We will take care of the design, construction, maintenance, and anything else required to ensure the community solar project is up and running.
A community solar project operates through a subscription model and provides electricity bill discounts to any company, resident, public sector or government organization. Your company can sign up to your own rooftop solar project to receive reduced monthly energy bills, or the project can be opened up to nearby businesses and households to benefit the local community.
There are several key benefits to leasing your rooftop for community solar:
A power purchase agreement (PPA) with a solar developer is one of the easiest ways to generate value for your business. A financial agreement is made where we (the developer) designs, permits, finances, and installs a solar PV system on your property or on another site with no capital outlays.
We will then sell the power that is generated from the project to you at a set rate per kilowatt hour and competitive with your local utility at the time of signing. We can offer you competitive energy rates because we make use of available tax credits and pass those savings onto you.
PPAs normally range from 5 to 25 years, and you have the option of keeping the solar PVs on your property after the agreement is completed. In any case, the costs of decommissioning and recycling the plant once the lease is over are taken into account.
There are several benefits to making a PPA:
Purchasing your own solar PV system is a good option if you want to invest in a long-term renewable energy supply for your business. This option is especially useful if you or your business has high energy demands that will continue into the foreseeable future. You may also be eligible to take advantage of tax credits depending on your state.
Many states work closely with solar contractors and developers to offset the cost of purchasing a solar panel system or the development of renewable energy. In addition to incentives and financing options, your business may qualify for federal tax credits and rebates for solar. There may also be loan structures in place specifically for solar that can support financing the initial capital outlay.
Recent trends by [WoodMac] show that in 2020, prices of solar modules will continue to decrease even after the pandemic. This means that installing your own project will eventually become cheaper than buying energy from your local utility. You will also be able to sell the extra energy you generate from your solar project and maintain a steady income for as long as you maintain the project.
There are several key benefits to installing your own project:
Do you want to take part in solar energy without capital outlays or a project on your property? Subscribing to an external community solar project might be right for you. All it takes is a simple subscription with no disruption to service and you will be able to access the benefits of local renewable energy.
This option is ideal for businesses with a high energy demand that cannot install panels on their property or view the initial investment of time and capital to be too burdensome. If you are interested in subscribing to a local community solar project, look at this map to see which project is closest to you.
There are several key benefits to subscribing:
Despite the astonishing increase in the number of community solar installations over the past few years in New York and across the United States, the general awareness of community solar remains very low.
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