As a New York (NY) commercial business owner, investing in solar energy can be a wise business decision – but where do you start? Let's explore why solar panels might be a valuable addition to your company's infrastructure.
NY's Commercial Solar Landscape
While NY isn't known for endless sunshine, it still offers ample solar potential for businesses. With modern panels that are productive even on overcast days, solar power is an increasingly viable option for commercial businesses across the state.
Catalyst Power currently provides two types of solar products: a Connected Microgrid®, our behind-the-meter Power Purchase Agreement (PPA), and a rooftop lease. Rooftop leasing is currently only available in lower NY. Businesses throughout NY with an interval meter and the right load profile–the Connected Microgrid could be for you!
Cost-Benefit Analysis for Businesses
There are a few ways businesses can save money on commercial energy costs. While the initial investment in solar can be substantial depending on how solo you want to go during the process, several factors contribute to the long-term value for businesses:
- Hedge against rising energy prices: The more protection your business has from future increases in utility rates, the better off your bottom line will be. Whether you connect to a community solar farm or a Connected Microgrid solution paired with optional backup storage for your daily operations, you’ll reduce your energy costs significantly.
- Enhanced brand image: Positive PR does a brand good. Demonstrating environmental responsibility can improve customer perception of your business and potentially attract more clients.
- Potential new revenue: If you choose a rooftop lease, Catalyst Power will pay you monthly to lease your rooftop space. Selling excess energy back to the grid (which means the energy will be used elsewhere).
Commercial Challenges and Considerations
Sure, you’ll have your fair share of considerations when utilizing solar. However, when you partner with Catalyst Power, many common concerns are no longer a barrier to your clean energy transition. We eliminate upfront costs, like equipment purchase, installation, and maintenance, to create a no-fuss approach to solar. Below are typical commercial challenges to have a solar array installed for your business:
- Roof condition and space: There’s no getting around it. If you want solar, your roof has to be able to handle it, including the weight of the solar array, and have sufficient unobstructed space for the solar panels. Let’s talk lifespan—the roof should be able to survive 20+ years without repair before construction.
- Cost to get started and keep going: While equipment prices have been decreasing, the upfront investment can still be significant. Not to mention the cost of maintaining the system (hello, ROI calculation!) over the system's lifespan. Good news! Catalyst Power cancels the barrier to entry by taking on the installation and maintenance costs for you. Don’t sweat it!
- Permitting and regulations: The beauty of having an integrated energy provider like Catalyst Power is that we already have a team of Energy Experts with the industry knowledge you need to navigate local building codes and utility requirements.
- Reduced carbon footprint: Some areas of NY have carbon reduction requirements for building owners. Solar energy significantly reduces the pollutants a commercial building can produce and supports more clean energy generation. It’s a big positive for the environment, not just your budget.
Conclusion
For many New York businesses, solar panels represent a sound investment. The combination of state and federal incentives, long-term energy savings, and potential PR benefits make solar energy an attractive option. However, the decision should be based on a thorough analysis of your specific business needs, property characteristics, and financial situation.
To determine if solar is right for your business, consider engaging a commercial solar energy provider like Catalyst Power for a more comprehensive assessment. Our Energy Experts can provide detailed projections based on your energy consumption, roof space, and local conditions, helping you make an informed decision that aligns with your business goals and sustainability objectives.
