All Things Real Estate: Solar spells savings on commercial properties

Most owners of commercial properties are ignorant of the benefits of using solar and energy cells in the day-to day-operation of their establishments. Why is this you ask? My professional opinion is that not enough advertising and promotion has been done by the state and federal government on a consistent basis to let commercial property owners know about the alternatives.

Why, I am not sure when we have a such a serious energy crisis with a much less than stellar energy grid and lack of adequate access and supply sources from local utilities across the country. Moreover, the savings alone as well as the tax credits that are provided by the state and federal governments and the available special financing would be more reason to retrofit, upgrade and transform one’s commercial buildings to become more efficient to preserve the energy and become more environmentally friendly.

Unfortunately, if you are unaware and unknowledgeable, not well-informed or uneducated about the possibilities, then you can’t know what you don’t know. The savings and more importantly the absolute potential earnings that can be attained is another reason to consider the options. By installing solar panels on the roof of a building or energy cells within the premises will establish a cutting edge method of eliminating the electricity costs, saving thousands to millions of dollars per year.

More important, the savings create earnings where energy can be sold back to your commercial tenants at less cost than what your local utility charges them, creating a win/win situation, as well as earning credits which can be used during high-energy usage, e.g., air conditioning and heavy equipment usage at specific times. It really is a beneficial situation when you as the owner can solve your energy cost issues and your tenants are very happy to save money in running their businesses and adding to their bottom line.

Furthermore, the New York state (or any other state where you may own other commercial properties) and federal tax credits that are available make the costs as well as the financing aspect of projects incredibly affordable. In the long run the savings and earnings are truly dramatic as the monthly and yearly costs are tremendously reduced and eventually eliminated as the energy that is created provides you another stream of income with literary no long term costs.

To me it’s a “no brainer” to add the necessary devices to all commercial properties. With the benefits that they provide, I don’t understand why more commercial property owners are not aware and are not more involved or don’t do more to provide these beneficial money and energy-saving and income-producing pieces of equipment to their properties.

I think it must be lack of knowledge about how to take the first step, and knowing and understanding the upfront costs with financing. But do you realize what the future savings and earnings can and will be? Moreover, you will no longer be subservient and reliant on your local energy provider while you can sell the energy back to your tenants and/or back to your local utility and receive credits for future energy needs.

The first step for one considering adding solar panels or energy cells would be to seek out a qualified individual who has the knowledge and expertise to create a solid customized plan for your commercial property.  That individual will guide you through the in-depth process, especially in the financing and those very valuable tax credits that are available via the state and federal governments throughout the country.

We are in the process of doing a building that I manage and have interviewed a multitude of companies and have found the most creative and knowledgeable individual to do our installation.
Some local governments are requiring energy-saving devices for new construction. In the very near future the federal government along with all states and local municipalities will have a specific mandate and requirement that all new construction incorporate energy-saving devices, eg. solar, energy cells, etc. to minimize the demand on our aged and aging electrical grid throughout the U.S.

Older buildings will also have to meet more stringent requirements as to their energy demands again to minimize their consumption from their local utilities to become much more energy efficient and independent. This will go a long way in minimizing and potentially eliminating our severe “blackouts” that we all have experienced in the past with the huge losses and damage that most have suffered and had to deal with. The increased needs and demands for energy by our  infrastructure, new buildings and all our technologies (Bitcoin and cryptocurrency mining, too) require an immediate plan for your commercial properties.

Thinking outside the box with alternative energy sources to become more energy efficient and using green energy, while saving as well as adding another valuable source of earning additional income, which will be an excellent financial advantage as an owner. Also important at the same time is considering the environmental impact and effect on our globe and society. Your commercial property will have a great impact, and you should consider seeking out information so you don’t get left behind. You may call me at anytime as we can provide you with valuable information and guidance on the subject.

Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck. He has 40 years of experience in the Real Estate industry and has earned designations as a Graduate of the Realtor Institute (G.R.I.) and also as a Certified International Property Specialist (C.I.P.S). For a “FREE” 15 minute consultation, a value analysis of your home, or to answer any of your questions or concerns he can be reached by cell: (516) 647-4289 or by email: [email protected]

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