Solar power has grown in popularity as a sustainable energy source in recent years, and shopping centers and malls are no exception. These commercial facilities can cut their energy expenses while simultaneously reducing their carbon impact and promoting sustainability by installing solar panels on their rooftops and parking lots.
This blog will look at the advantages of installing solar power systems in a mall or shopping complex. This blog will provide essential insights into the world of solar power in the retail industry, whether you are a business owner, a mall manager, or simply interested in the topic.
Why Should Solar Power Systems Be Installed in Shopping Malls?
Installing solar panels on the roof of a shopping mall or big-box retail establishment is a wise decision! These structures not only feature broad, flat roofs that are ideal for solar panels, but they also get a lot of sunlight. As a result, by adopting high-quality solar products in India, you can get a significant competitive advantage over competitors, save money on electricity costs, and see a speedy return on your investment.
Here are a few reasons why going solar for your shopping center is a good idea:
Gain Depreciation and Tax Write-Offs under the Modified Accelerated Cost Recovery System (MACRS)
Switching to solar panel systems at your retail shopping centers and malls can also generate MACRS depreciation and significant write-offs, such as 30% federal tax breaks. Furthermore, MACRS depreciation permits shopping mall operators to recoup a considerable portion of their investment costs in the first year of operation.
Prevent Power Outages
Who wants their sales operations to be disrupted, making their customers angry, due to power outages in the store? Solar systems can assist you in achieving the necessary power outage protection. It enables users to store electricity in batteries, huge capacitors, flywheels, and other energy-storing devices until it is needed. As a result, switching to solar energy solutions can
Immunity from Rate Increases
Installing solar panels in a mall or shopping center reduces the likelihood of electricity tariff increases for roughly 15 years. Electricity tariffs typically rise by 6% each year, and a solar panel can generate free electricity for more than 25 years, while many solar panels survive 30-40 years. With 6% annual increases in electricity costs, a 10,000Rs bill will become 38,200Rs per month in 25 years. However, with a solar energy generation system in place, you may save a significant amount of money on your electricity costs while harvesting clean energy from the sun. Consider that, in addition to using the generated electricity, you may sell it for a profit.
Gain a Competitive Advantage
Solar energy generation has become more affordable in India as the cost of solar panels continues to fall. Despite utility rate increases, building owners can maintain a competitive advantage by installing solar systems on their building rooftops. Buildings with solar systems would pay the same amount for electricity bills every year, whereas competitors without solar setups would pay twice or triple in the next 10-15 years.
Lower Your Carbon Footprint
Aside from saving money on your electricity bills and earning money from the electricity generated by your solar panel system, the main benefit of solar systems is that they emit no pollution. With the ever-increasing problem of pollution and global warming, installing solar power systems is one of the finest solutions for a retail shopping center owner to decrease their carbon footprint and make their building more environmentally friendly.
So, if you’re seeking for best-in-class solar energy solutions for your retail center or mall, Genus Innovation is the place to go. Our committed staff excel in assisting businesses in implementing the best solar power solutions to make their operations more sound, sustainable, and effective. Contact us today to discuss installing solar systems in your retail shopping center or mall.
You may save money on your energy costs and get a quick return on your investment by utilizing solar energy. Furthermore, by demonstrating your commitment to sustainability, you will distinguish yourself from the competition and attract more clients to your firm.