As a commercial property owner, you have no doubt heard all about the benefits of adding solar panels to your building or site, but you may not know whether it will be right for you. The fact is, every property is different and there are a number of things you have to consider before taking on the cost and effort to instal solar. The following are some of the most important factors in whether solar will work for your building:
The good news is that solar power systems can be installed with relative ease on any number of buildings, provided you have a fair amount of roof space that gets sufficient levels of sunlight throughout the day. Synergy noted that you will want to consider how much electricity the building typically uses in a given day to calculate how much solar power you need to generate, then from there, you can crunch the numbers on square footage needed to reach that level of power.
Clearly, installing solar comes with a sizable cost, paid up either front or over time. Will your rig be sufficient to offset a healthy percentage of those costs, either from one month to the next or on a long enough timeline while you still own the building? This, too, will take some careful calculations but you should get the full picture of how you pay for power, and what it ultimately costs, according to Business Queensland.
Again, installing solar is a relatively simple process but it can be invasive for your business as well. This is obviously a one-time issue but if you do not plan properly, you could experience a disruption to your business activities for a brief time, especially if your company welcomes customers or clients on a regular basis (i.e., retail or restaurant businesses).
If you're thinking of adding solar specifically to boost your sales price in the near future, that can be a great idea. However, you should first talk to a real estate professional from Ray White Surfers Paradise. We can advise you as to the best path forward with your sale and help ensure you get as much out of the process as you possibly can. Get in touch with us today to learn more about how we can help facilitate your next commercial real estate sale.