For commercial property owners, installing a solar parking lot can be an excellent way to generate additional revenue streams while also reducing your property’s carbon footprint.
What is a solar parking lot or carport? A solar parking lot is a parking lot that is equipped with solar panels installed on a canopy or shade structure above the parking spaces. Solar panels generate electricity from the sun’s energy, which is then used to offset the energy costs of your facility.
Here are some ways that business and property owners can make additional revenue by installing a solar canopy:
1. Generating electricity
The primary benefit of installing a solar parking lot is that they generate electricity, which can be used to power your business’s operations or sold back to the grid. This can result in significant cost savings on energy bills and potentially generate revenue through the sale of excess energy.
2. Charging electric vehicles
As more people switch to electric vehicles, businesses can offer charging stations in their solar carports. Customers can pay to charge their vehicles, providing a new revenue stream for your business.
3. Increased property value
Installing solar carports can increase the value of your property by providing a valuable asset that generates revenue. The added benefit of covered parking can also make your property more attractive to potential buyers or tenants.
4. Reduced maintenance costs
Solar panels require very little maintenance, which can result in significant cost savings over time. Additionally, solar parking lots can protect cars from the elements, reducing the need for costly repairs and maintenance.
5. Tax incentives
In Massachusetts, businesses are eligible for tax incentives for installing solar parking lots. These incentives can reduce the overall cost of installation and increase the return on investment.
6. Reduced carbon footprint
In addition to these revenue streams, installing solar carports can also improve your business’s reputation by demonstrating a commitment to sustainability and reducing your carbon footprint. This can attract environmentally conscious customers and help to differentiate your business from your competitors. Overall, installing a solar parking lot can be a smart investment for your business, and can generate additional revenue while also reducing your environmental impact.