How You Can Turn Your Commercial Roof into a Revenue Source
In today's world, self-storage facilities have a hidden money-making opportunity - their roofs. With the rise of solar power, putting solar panels on the roof can bring in extra revenue, especially in states with net metering laws.
Net metering is a policy that lets businesses, like self-storage facilities, make their own electricity with solar panels and get credit for extra power. In this article, we will delve into what net metering is, how it works, and how self-storage facilities can leverage this technology to unlock a new source of revenue.
Understanding Net Metering
Net metering is a policy mechanism that allows commercial electricity consumers, to generate their own electricity using solar panels and receive credit for any excess energy they produce. Under net metering, when a self-storage facility generates more electricity than it consumes, the surplus power is fed back into the electric grid, resulting in credits on the facility's electricity bill.
Net Metering and Billing
With net metering, the facility is credited for the excess electricity it feeds back into the grid. These credits are subtracted from the facility's future electricity bills, resulting in reduced or even zero net charges for electricity consumption.
For States with Net Metering
The majority of states have passed net metering laws. The states that do not offer any form of net metering are Alabama, South Dakota, and Tennessee.
Net metering is a policy mechanism that allows commercial electricity consumers, including self-storage facilities, to generate their own electricity using solar panels and receive credit for any excess energy they produce.?
Under net metering, when a self-storage facility generates more electricity than it consumes, the surplus power is fed back into the electric grid, resulting in credits on the facility's electricity bill.
One often overlooked asset that holds immense potential is the facility's roof. With the increasing popularity of solar energy, harnessing the power of the sun through rooftop solar panels can prove to be a lucrative opportunity for self-storage operators, especially in states with net metering policies.
Advantages For Self-Storage Facilities
Cost Savings
By generating their own electricity, self-storage facilities can significantly reduce their reliance on the traditional power grid. This leads to reduced monthly electricity bills, resulting in substantial cost savings over the long term.
Additional Revenue
In states with net metering policies, self-storage facilities can generate additional revenue by selling the excess electricity they produce back to the grid. These credits can offset the facility's electricity costs or even create a new revenue stream altogether.
Environmental Benefits:
Utilizing solar energy helps self-storage operators contribute to a cleaner environment by reducing their carbon footprint. By generating renewable energy on-site, they actively participate in the transition towards sustainable and eco-friendly practices.
The roof of a self-storage facility is more than just a protective covering; it has the potential to become a valuable revenue source. Through the installation of solar panels and leveraging net metering policies, operators can turn their roofs into power-generating assets, significantly reducing electricity costs and potentially generating additional income. Investing in solar energy not only provides financial benefits but also aligns with the growing demand for sustainable business practices. By embracing solar power, self-storage operators can unlock a bright future for their facilities while simultaneously making a positive impact on the environment.