If you are considering switching to solar energy but are not planning to stay in your current building long-term, you may wonder if it is worth the investment. Many business owners have this concern, especially if they are thinking about relocating or selling their property in the next few years. At Buffalo Solar, we understand these reservations, but we also know that investing in solar energy can still be a smart decision, even if you are not planning to stay for the long haul.
You might be considering relocating, expanding, or selling your property in the near future, and you do not want to commit to a long-term solar project that you may not fully benefit from. This uncertainty can make the idea of installing solar panels seem less appealing, especially when you are focused on short-term business goals.
Business owners might ask themselves, "Why invest in solar if I am not going to be around to enjoy the savings?"
At Buffalo Solar, we believe that the benefits of solar energy extend far beyond short-term occupancy. Here’s why installing solar panels is a smart choice, even if you are not planning to stay in your current building long-term.
Increase Your Property’s Resale Value
One of the most compelling reasons to invest in solar energy, even if you are not planning to stay in your current property for long, is the potential to increase your property’s resale value. Solar installations are considered an asset that can significantly enhance the value of commercial properties. A building equipped with solar panels is more attractive to potential buyers who are looking for long-term savings on energy costs and sustainable energy solutions.
Studies show that homes with solar panels can sell for higher prices than those without. A prominent study by the Lawrence Berkeley National Laboratory found that homes with solar installations sold for about $15,000 more on average than similar homes without solar. Whether you are selling or leasing the property, solar panels can be a major selling point.
Another key benefit of solar energy is the immediate reduction in energy costs. A study such as a Zillow analysis found that solar-powered homes in some regions, like California, saw a price increase of around 5.4%. Even if you are not planning to stay in the building long-term, these savings can make a significant impact on your business’s bottom line in the short term.
The savings generated by solar can offset the initial investment, meaning you will start to see a return on investment (ROI) almost immediately. In some cases, businesses experience ROI within just a few years, depending on the size of the installation and local energy rates.
At Buffalo Solar, we work with our clients to take advantage of all available financial incentives, including federal and state tax credits, grants, and rebates. These incentives can cover a significant portion of the installation costs, making solar energy more affordable for businesses. For example, the federal solar investment tax credit (ITC) allows you to deduct 30% of the cost of installing a solar energy system from your federal taxes.
By combining these incentives with your energy savings, the financial burden of solar installation is significantly reduced, even in the short term. Plus, taking advantage of these incentives now ensures you do not miss out if they are reduced or eliminated in the future.
If you are still unsure about making a large upfront investment in solar, leasing may be an ideal solution. With a solar lease or a Power Purchase Agreement (PPA), you can install solar panels with little to no money down and start saving on energy immediately. Under these agreements, you pay a fixed monthly rate for the solar power your system generates, often at a lower rate than your current utility costs.
Leasing solar panels can be a flexible, cost-effective way to enjoy the benefits of solar energy without committing to a large upfront payment. And because you are not the owner of the system, you have the option to move without worrying about transferring the ownership of the solar panels.
Even if you decide to move to a new building, your investment in solar energy does not have to go to waste. Solar installations can be transferred to new owners as part of the property sale. This adds significant value to the sale of your building, as potential buyers will be able to benefit from the energy savings you have already started generating.
Additionally, if your solar system is part of a lease or PPA, you may be able to transfer the contract to the new property owner, allowing them to take over the payments and continue using the system.
At Buffalo Solar, we are committed to helping business owners make informed decisions about their energy needs. Even if you are not planning to stay in your current building long-term, commercial solar feasibility is a viable and profitable option that can provide immediate energy savings, increase your property’s value, and offer attractive tax incentives.
Do not let short-term uncertainty prevent you from making a smart investment in solar energy. Contact Buffalo Solar today to learn more about our commercial solar solutions and how we can help you save money and increase the value of your property.