With rising energy costs and a growing need to reduce carbon footprints, many businesses are turning to solar panels as a sustainable and cost-effective solution. By harnessing the power of the sun, solar panels can help businesses reduce their energy bills, increase their energy independence, and demonstrate their commitment to a more sustainable future.
What are solar panels?
Solar panels are devices that convert sunlight into electrical energy by using photovoltaic cells. These cells absorb sunlight and create a flow of electrons, producing direct current (DC) electricity. This DC electricity is then converted by an inverter into alternating current (AC) that can be used for all of your business needs.
The efficiency of a solar panel is measured by its conversion rate, which is the percentage of sunlight that is converted into usable electricity. The average conversion rate among solar panels for business is around 15-20%, while the most efficient solar panels can reach conversion rates of up to 23%.
Five best solar panels for small businesses in 2023
Discover the ultimate solar panels for business in 2023 as our team of solar specialists have handpicked the top five models. Read on to uncover which panels made the final cut and learn why they’re the ideal options to power your business.
JA Solar Deep Blue 550 W
A 144-cell 550 W panel from JA Solar is fantastic for businesses large and small. The module clocks an impressive 21.3% efficiency. Three bypass diodes and a half-cut cell design decrease the impact of shading. The panel withstands 5400 PA of front load. Busbars and half-cut cells improve the longevity of the panel and current flow. It is designed to last for over 25 years and comes with a 12-year warranty for the product and a 25-year warranty for performance.
Trina Solar Vertex 670 W
Vertex solar panels from the Chinese brand Trina Solar provide up to 670 W power output with up to 21.6% efficiency. It’s one of the most powerful panels out there, just a few of these things can provide plenty of solar power for business. It features multi-busbar technology and improved PID and microcracks protection. The low cost of this panel guarantees a better return on investments.
Jinko Solar Tiger Neo 615 W
Tiger Neo is a panel series from Jinko Solar. Tiger Neo models reach up to 615 W power output under Standard Test Conditions. The efficiency of this module goes as high as 22%. The panel has 156 half-cut n-type cells and it’s almost as large as the previous panels in our list: 97 × 44.6 inches. Tiger Neo comes with 12/30 years warranties for product and output. The panel retains over 87.4% of its production by the year 30.
Phono Solar Helios 690 W
Helios is a bifacial panel by Phono Solar, another Chinese brand, and it’s among the best solar panels for business. It would be a good option for those aiming to build larger systems. The most powerful panel in this line is rated at 690 W. Active rear side provides up to 25% bonus production. Taking bifacial gain into account, you could get up to 828 watts from a single panel.
Suntech Ultra V 555 W
A monofacial panel Ultra V from Suntech is a great solar panel for business installations. Ultra V provides up to 555 watts of output with a 21.5% efficiency. It has demonstrated improved production on cloudy days and doesn’t heat up as much while operating. After 25 years this panel retains over 84.8% of its initial power. There is also a bifacial variation of this model for those who fish to maximize the gains.
What are the types of solar panels?
Solar panels come in several types, each with their own unique features and advantages. The most common types are monocrystalline, polycrystalline, and thin-film solar panels.
- Monocrystalline panels are the most efficient and commonly used in solar for business, with an efficiency rating ranging from 15% to 22%. They are made from a single silicon crystal, which gives them a uniform appearance and high efficiency, but also makes them more expensive to produce.
- Polycrystalline panels are made from multiple silicon crystals, which makes them less efficient than monocrystalline panels, with an efficiency rating ranging from 13% to 16%. However, they are also less expensive, which makes them a popular choice for business installations.
- Thin-film solar panels are the least efficient of the three, with an efficiency rating ranging from 7% to 13%. They are made by depositing thin layers of semiconductor material onto a substrate, which makes them flexible and lightweight. This makes them ideal for applications where weight and flexibility are important, such as on curved surfaces or on portable solar chargers.
It’s important to consider the specific needs of your project when choosing a solar panel type. Polycrystalline panels may be cheaper, but if you have limited roof space or a tight budget, monocrystalline panels become a better choice. Likewise, if you’re looking for an innovative design or have unique installation requirements, thin film or BIPV panels may be the way to go.
Average cost of solar panels for small businesses
The average cost of solar panels for business can vary greatly depending on a variety of factors such as the size of the system, location, and incentives available. On average, small businesses can expect to pay around $2 to $3.5 per watt for solar panels, which means a 10-kilowatt system can cost between $20,000 and $35,000 before incentives.
Other factors that can affect the cost of solar power for business include the type of panels being used, installation fees, and ongoing maintenance costs. Additionally, the availability of incentives such as tax credits and rebates can significantly reduce the overall cost of a solar panel system. In some cases, it is possible to achieve more than 50% savings!
Investing in solar energy can give businesses access to incentives, grants, and rebates. For example, the Investment Tax Credit (ITC) allows businesses to deduct up to 30% of the solar panel installation costs from their federal taxes. Additionally, state and local governments also offer incentives, such as cash rebates from the California Solar Initiative for small business solar panel installations or incentives from the New York State Energy Research and Development Authority (NYSERDA) for small commercial projects.
