In the past, solar energy was considered too expensive to be applied to industrial use. At best, solar for industrial power was often considered a novelty. Things have changed a great deal and energy companies offer SCE solar rebate among other incentives for industries to jump on the band wagon. There are a few issues you might need to clear up when deciding whether to invest in solar energy for your plant.
Low Cost of Implementation
Few people will disagree that the cost of solar power has dropped drastically over the years. One of the main reasons for this is improvements in solar technology. Perovskites, for example, are integrated to solar cells with dramatic increase in efficiency. With ongoing development, costs are expected to go even lower with projections pointing up to 50 percent increase in energy production per square foot.
Energy companies and the government have also played a big role in reducing the cost of solar power. A large chunk of state and federal subsidies are offered to companies that use solar power compared to traditional fossil fuels. California solar rebates offered by energy providers also help to subsidize the cost of installing and implementing solar power.
Finally, a sharp increase in the supply of solar panels has led to the drastic drop in prices that we now see. China is a good example of a country that has mass produced solar panels compared to the demand. This puts pressure on other manufacturers to lower their prices. Specialized installation tools and processes also mean that installing panels is now much faster and cheaper, further bringing down the price of solar power.
The Real Benefits of Solar Power
There are obvious benefits of implementing solar energy. A look at the utility bill before and after implementation is evidence enough that solar power is the right option for an industrial plant. More than this, there are other ways that plants which have implemented solar power continue to gain financial advantage.
Tax grants and subsidies are often offered to plants that implement widespread use of solar power. This means that the cost of installation is highly discounted through incentives such as tax subsidies and rebates. Tax credits are also awarded to prudent solar users.
Combine these financial breaks with SCE solar rebates and significantly lower net metering and it makes financial sense to install solar power. Many of the reasons that hindered widespread use of solar energy are now irrelevant. Solar power is no longer expensive to install, difficult to implement and manage or provides a low ROI. There is every reason to seriously consider implementing solar energy in your plant.
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