How to Maximize Your ROI with Solar

solar panels

If you are thinking about using solar for your business, be aware of local policies which will affect how your system is engineered and sized to maximize your return on investment. When speaking to a solar provider, be sure to ask about the net metering policies with your state and local utility and how they will impact your ability to go solar.
Here are a few things to keep in mind when considering solar:

1. Do I live in a net metering state?
This will determine how your provider should engineer and size your array. A true net metering state requires utilities to credit their customers for all energy pushed back to the grid at a retail rate. This means that you can offset much more of your energy bill by avoiding daytime costs while offsetting remaining utility costs accrued during non-production times. In a nutshell, the bigger the system the better the return!

In contrast, if you are currently living in a non-net metering state such as Georgia, you should look to your solar provider to properly size your array to minimize the energy you push back to the grid. In states such as these, the utilities are only required to compensate their customer’s for electricity pushed back to the grid at a wholesale rate or “avoided cost” rate. This means your system size should be engineered to meet your peak demand, thus maximizing your ROI

2. Understanding My Peak Demand.
If you are living in a non-net metering state like Georgia, it is important to understand your peak energy demand in order to ensure you are getting the best return on your investment possible when going solar. Sub- meters such as Velo Solar’s PowerEnfo, allow you and your solar provider insight into your energy consumption patterns which include peak times of use and the frequency of energy spikes throughout the day. In addition to sizing an array to fit your facility’s energy production needs, this system also provides useful analytics which can lead to improved consumption behavior and uncover energy efficiency measures which can further lower your operating overhead.

3. How to maximize my ROI with Solar.
Once your solar array has been properly sized and engineered to meet your peak demand, there are a few extra steps which can be taken to further improve your energy savings. First- now that you know your consumption patterns, think about shifting some of your heavy equipment loads (HVAC, manufacturing equipment, lighting ext..) to times of maximum solar production during the day.

For Example: Instead of using your AC in the early morning to cool the building, blast the air during the heat of the day when it’s most needed. This will shift a large portion of your energy load to correspond with your highest solar production times thus maximizing your energy offset and ROI!

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