Over the past decade, commercial solar in Melbourne prices have fallen significantly. According to NREL the cost of solar panels in the United States has dropped by two-thirds in the past decade. This is due to more efficient solar technology as well as lower inverter prices. The average cost of commercial solar panels in Florida is 7.6% less than the national average.
Commercial solar in Melbourne, FL is often thought about in terms of the price per watt of power capacity, which equalizes system costs similar to the price-per-square-foot metric in the real estate sector. The average cost of commercial solar is $2.00 per Watt.
How does solar work? A commercial solar system producing 100 kW (or a similar power output) will generate approximately 136,000 kWh per year. This is enough to cover the entire electricity bill of an average customer in Florida. It would also cost around $200,000, before you apply any federal, state and local incentives.
Every commercial system and installation is unique. Request a site analysis to learn how much solar could cost in your area. We will evaluate the feasibility and ROI of commercial solar panels in your business.
Commercial Solar Panels – Cost Breakdown
Every customer asks us the first question: “How much does a commercial solar panel cost?” This depends on how big the system is and what type of equipment you use. The cost of commercial solar panels is determined by many factors.
- The system’s size. The size of the system is important. A small boutique shop or a shipping warehouse will have different energy needs.
- Type of equipment. Rooftop black panels are not all created equal. There are three types of solar panel technology: monocrystalline, thin film, and polycrystalline. Each type of solar panel has a different material composition which affects its efficiency, cost and aesthetic. Our team will be happy to assist you in choosing the right type of solar panel for your business.
- Electricity usage. This is dependent on the size of your business. Larger facilities will require more electricity. Your location will also affect the electricity rates in your region. According to U.S. data 2019, the national average is approximately 11 cents per Kilowatt-hour.
Size Of The System
Your roof space, electricity consumption, and financial goals will determine the size of your system. The following factors will affect the cost of your system as it grows in size and add more panels:
- How many solar panels do you need? You will need more panels the larger your facility and thus your total energy requirements. Calculating how many solar panels you will need is easy. Simply multiply your business’s daily energy requirements by the peak sun hours in your area and divide that number by a panel’s power.
- What type of mounting infrastructure is required for your installation? There are many types of solar mounting options in Melbourne, FL. The cost of the equipment will also impact the overall cost of your project.
- How much of your energy use do you want to come from solar? It’s up to you to decide whether going solar for your business is reducing dependence on the power grid, or using solar as your primary source of electricity. You should also consider solar batteries and a generator backup if you choose the former.
- How Energy Efficient is Your Current Building/Organization? Every business must be able to depend on an uninterrupted energy supply. Every electrical device requires its own energy supply, from lighting to HVAC to machinery and electricity-powered equipment. It is important to consider the energy efficiency of your building, especially if you intend to use commercial solar in Melbourne Florida for your sole source of electricity.
Type Of Equipment
Even if you use the same commercial solar panel, the cost of the application will be different. A ballasted roof with a flat roof will require different equipment to attach solar panels to standing seam metal roofs. Additionally, ground-mount systems and solar carports require additional structures. Typically, cabling is required to run underground to the electric meters. Costs for each of these applications vary depending on the components used.
Rail mounting involves many additional parts, including the railing and any bonding attachments. This is because of the additional equipment and the labor required. Rail-mounted systems can cost nearly twice as much as direct attach (railless) systems. Cost will be affected by the type of system that you choose for your company.
There Are Many Options:
- Rooftop solar. This type of solar setup is most popular because it allows businesses to use their roof space to mount it. There are several types of roof mount systems available, including:
- Standard roof mount: This type installs a fully-anchored and rail-based mounting method. This attachment is ideal for roof pitches and unique shaped roofs.
- Flat roof mount with single tilt: This type of installation is best for large flat roofs such as warehouses or manufacturing facilities.
- Flat roof mount with dual tilt: The dual-tilt flat roof mount is identical to the single-tilt, but its panels face in either direction. This means that there are twice as many panels in the same space as a single or double-tilt roof mount. This design is ideal for small businesses with flat roofs. It makes the most of limited space.
- Carport solar. A large parking lot on site can be a great option if your business doesn’t have enough space for rooftop solar. There are several types of carport solar:
- Long span canopy – This installation covers two rows of parallel parking as well as the inside driving lanes with one continuous canopy.
- Dual-tilt canopy A dual-tilt canopy covers only one row of parking with two sets tilting toward the middle.
- Garage-top canopy If your business has a parking garage on-site, a garage top canopy is a great option. It adapts easily to different structural conditions and maintains optimal direction for maximum performance.
- Ground solutions. Larger installations are better for businesses with large-scale requirements, such as production solar systems. These types of installations use a standard modular racking system that mounts the modules at a tilt.
Solar Panels, Inverters, And Other Technology
A commercial solar power system in Melbourne Fl includes the components: the solar panels, inverter power stations, cable management systems, mechanical mounting systems, and monitoring and energy management software. The upfront cost and long-term cost of the system will be affected by the type, manufacturer, and quality of each component. High-efficiency premium solar panels will have a higher cost but produce more energy over its lifetime.
Monocrystalline panels are the most efficient and cost-effective, with prices ranging from $0.01 to $1.50 per Watt. High-quality cable management systems will be more expensive upfront but will last longer and require less maintenance.
Rebates, Tax Credits, And Other Incentives
There are incentives and government programs that will lower the cost for commercial solar panels.
- Investment Tax Credit (ITC). The government-issued solar tax credit (ITC), allows businesses to deduct 26% from their annual taxes in 2021. This amount will decrease to 22% in 2023, and 10% in 2024.
- Local incentives. Most cities offer rebates to lower the cost of solar installation. Palm beach solar energy offers customers who go solar a flat $2,500 rebate after installation. Customers must complete a training course and then hire an Austin Energy contractor to qualify for the rebate.
- Utility rebates. Business owners who decide to go solar can also receive financial incentives from utility providers, such as distributed generation rebates and on-site solar PV system upgrades.
- Net metering. In exchange for credit on their monthly utility bills, businesses can send their unutilized energy to the grid. Florida has net metering that is available throughout the state via local utility companies.
- Sales Tax Incentives. This exemption is available in Florida so that owners of businesses won’t have to pay additional taxes for the added value of their solar panels.
Cost Savings And Return On Investment
A commercial solar panel system in Fl can seem like a large investment. This includes equipment costs and installation. There are many financial incentives that can help you drastically reduce your costs. Your business will generate energy for free once your system is paid off.
Many factors can be added that will reduce your ownership cost, increase your ROI and provide significant long-term advantages.
- You will save energy every month. Your setup will generate passive energy for many decades after it has been installed.
- Stability in energy prices. Because it helps to protect against future rising energy costs, solar energy can be a good investment for your company.
- Higher property values. Studies have shown that properties with solar panels have higher property values and sell faster than those without them.
- Corporate reputation. Your commitment to the environment will increase customer loyalty and set you apart from your competitors.
How Red Solar Can Help You Save Money
There are many things that can impact the price of your solar system. It is important to have an experienced installer guide you through the financial process. Red Solar is eager to assist businesses in Florida with solar. We are a top residential solar installer because of our financial expertise.
We will help you locate and use every financial incentive available for commercial solar in Melbourne, Fl. What will you get? The result?
So Let’s Get Started!
You can take advantage of historically low costs for commercial solar in Melbourne to reduce your operating expenses and reap the many benefits of solar energy for your business. To receive a customized price quote, request a site analysis.
Red Solar has the mindset of renewable energy being the future. We want everyone to travel through this transition. During the Red Solar energy evaluation, we analyze all energy commons in your home for results. Our experts will guide you through the process for better understanding and reassurance. Contact us via phone, email or book your free solar analysis, roofing quote, and a windows and doors quote by clicking here!