As I’ve written before, Google has invested a lot into solar, Apple has done so, IKEA has done so, Walmart has done so, and a bunch of other major corporations have done so. Do you think they’re doing it out of good will? Do you think Walmart is paying a premium for clean electricity on a bunch of its stores for the reputation? Of course not. These major corporations are going solar because buying solar panels beats buying electricity from the grid (financially).
In the latest such story, the International Indoor Soccer Arena (IISA) in Albuquerque, New Mexico has decided to switch to solar power.
The IISA’s first full month with solar power sending electricity into the grid on its behalf was August. As such, it’s electricity bill went from $1500 per month (in July) to an actual credit of $41.33. Yep, from -$1500 to +$41.33. That’s a difference that I’m sure will be paid off before too long. Here are some more details on the projected savings from the 155-solar panel installation (via a press release about the cool story):
The estimated energy savings in year 1 will be $11,212. The estimated energy savings over 25 years will be $520,076. This is a significant savings for the successful operations of businesses of any size.
You may be wondering how much a system of 155 solar panels actually cost. The release said that it cost $143,000. If you know anything about investing, that means the post-tax internal rate of return is 13%! (That’s extremely good, and also the average for New Mexico solar projects.)
Big and medium businesses are making a shift to solar because it makes financial sense. But the wonderful thing about solar power is that it’s modular down to a very small level, even down below the household level. So, a homeowner or small business owner can follow in the footsteps of these big boys. You can now go solar and save a good deal of money (in the tens of thousands) all across the US (as well as other countries).
Have you checked the price of solar and estimated savings for your situation lately?
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