Lower operating costs, zero upfront investment, and no maintenance.
Energy consumption is the single largest contributing factor to operating expenses for commercial office buildings in the United States. One-third of most operating budgets is allocated to energy use, and as much as thirty percent of the energy that buildings consume is used inefficiently or unnecessarily. This presents an opportunity for property owners to identify and adopt cost-saving practices that will improve their building’s energy efficiency and reduce its operating costs. Fortunately, for these forward-thinking CRE owners, solar energy is one of the most effective solutions.
Historically, the purchase and installation of solar panels required significant upfront costs and investment-grade credit, additional time and resources to identify and collect on government incentive programs, and the manpower and technical expertise to manage ongoing maintenance and operations. While the long-term financial and environmental benefits of these systems was appealing, many companies struggled to supply the criteria for its initial development.
This created an opportunity for third-party solar developers to profit from ample, government-sponsored solar incentives by managing the financing, construction, and maintenance of solar installations on behalf of property owners. All they needed was the space. Today, there are many solar developers who will pay to lease space on your roof or land, where they will fully fund, build and maintain a solar installation for the duration of the lease. In addition to a steady stream of rental income, the property owner also secures reduced energy rates over a long-term period, helping to reduce operating costs.
