Solar energy has been a popular renewable source in the last few years. Shopping centers and malls have been included. These commercial spaces, by installing solar panels on their buildings’ roofs and parking lots, can reduce their energy bills and promote sustainability.
This blog will examine the benefits of installing solar power systems at a shopping mall or center. This blog is for anyone interested in solar power, whether you’re a business manager, a shopping center manager, or a general reader.
Why should you install solar power systems in shopping centers?
It is wise to install solar panels on a roof of a big-box retailer or shopping mall. These buildings have flat, large canopies, ideal for solar panels but also receive a lot of sunlight. You can use top-quality products to gain a competitive advantage, reduce electricity costs, and get a quick ROI on your investment.
Here’s why switching to solar energy for your shopping center can be an excellent move:
Gain Modified Accelerated Cost Recovery System (MACRS), Depreciation, and Tax Write-Offs
Solar panel systems can provide MACRS and other substantial tax advantages, such as 30% federal tax savings. Shopping mall owners can also benefit from MACRS’s depreciation, which allows them to recover much of their investment costs in the first year.
Avoid Power Outages
Who wants their sales activities interrupted and their customers upset due to a power cut in the store? Solar systems will help you to achieve the protection needed against power outages. Users can store electricity in flywheels and flywheel batteries. Switching to solar solutions is a great way to avoid those annoying power cuts.
Immunity from Rate Hikes
Solar power installed in a shopping mall or center can reduce the likelihood of rate increases for almost 15 years. Solar panels can provide free electricity for over 25 years. However, many last 30-40 years. A yearly 6% increase in electricity costs means that a bill of 10,000Rs will be 38,200Rs a month after 25 years. With solar energy, you will save a lot of money and harness the clean power the sun provides. You can sell the generated electricity to earn a profit.
Gain an Edge in the Competitive Market
The constant drop in solar panel prices in India has made solar energy production more affordable. Solar systems installed on building roofs can give building owners a competitive advantage despite utility rate increases. Solar systems will keep your electricity bill the same every year. But businesses without solar setups may see their bills double or triple over the next 10-15 years.
Reduce your carbon footprint.
Solar systems are the most environmentally friendly option. They produce zero pollution and can save you money on your electric bills. Installing solar power systems in a retail shopping center reduces pollution and global warming.
Conclusion
Solar energy can help you save money and get a quick return. You’ll also stand out by demonstrating your commitment to sustainability. This will attract more customers.
Genus Innovation is the place to go if you’re looking for best-in-class solar energy solutions for a retail center or shopping mall. Our teams are dedicated to helping businesses implement solar power solutions to make their operations more sustainable and effective. Contact us to install solar systems in your shopping mall or retail center.