Go Solar; A Sustainable Future
By Adekoyejo Kuye, renewable energy consultant.
The world is gradually getting past that point where we label Solar Energy an “alternative Energy source.” Solar Energy is now becoming part of our lives and even big companies all over the world are making the energy transition. Nowadays, going solar is less fringe and more mainstream, with even smaller developers jumping on the green bandwagon. Solar energy is the cheapest, sustainable alternative source of energy. Every developer is now adopting solar because buildings that are integrated with solar energy sources now sell much more faster than buildings without. In fact they sell 3 times faster according to surveys carried out.
Despite the overwhelming growth of residential and industrial solar installations in Nigeria, many myths remain about solar power, there are still some misunderstandings and fears when it comes to going Solar. Some of this fears and facts are highlighted below;
Fear: Short Battery life span and durability.
Fact: The life span of your battery and the its durability all depends on its usage by the user. Battery is a function of usage not time. An individual can use a battery for five(5) good years or more and another person can use the same type of battery for just 2 or 3 years. When the battery is over stressed during the design of the system, the life span of the battery is greatly affected, therefore, it is important to get highly professional engineers to handle your installations instead of opting for cheap roadside installers. Another importance of getting a qualified Solar company to handle your installation is that they will be able to identify genuine batteries for your installation. There are a lot of fake and used batteries in the market. They also offer after sales support services. This will enable them monitor your system on a regular basis and make sure it last for as long as possible. There is nothing to fear about the lifespan of your batteries, batteries are designed to last its user for as long as possible.
Fear: Can Solar power all my appliances? solar do not work well in rainy or cold seasons.
Fact: Solar can power anything in your home or business, it all depends on the budget of the customer. Professional installers know how to work within the customers budget to give them the best system. Also, solar systems are designed to work on sunny, cloudy and even rainy days! Moreover, the rains help in washing away dust and bird droppings from your panels.
Fear: Solar panels are costly to maintain
Fact: Solar panels require very limited maintenance, they have no moving parts and are very reliable. They can last as long as twenty-fiver years.
Bloomberg’s New Energy Outlook predicts that “wind and solar are set to surge to 50 percent of world generation by 2050.” Solar energy offers individuals and commercial real estate developers the opportunity to lower operating expenses and boost revenue by reducing or even eliminating public utility and generator expenditures. Commercial solar panel installation proves to tenants that they’re investing in the future of the property, and care about the environment. Buildings with solar and efficiency attributes produce higher rents and lower vacancy. Tenants are immune from a fluctuating energy market or sporadic power outages. According to research carried out, solar can provide tenants with a compelling reason to extend the terms of their lease or are even very willing to pay the high cost of owning the building. This in turn provides an opportunity for real estate owners to increase the Net Present Value (NPV) of their buildings.
The installation of solar panels doesn’t mean there’s a disruption to your property or business. Most times, solar is installed using underutilized space, whether that’s on the roof of the property, or other open space such as a car park or field. It increases the life of the roof, and the value of the property. Solar panels immediately help a commercial or personal building become more recognizable, aesthetic appeal of solar panels on a roof is subjective. With the growing popularity of solar power, your building stands out with prestige from other surrounding buildings. It’s one of the most visible ways of showing you are preparing for a sustainable future.
Majority of the companies in Nigeria have pledged to shrink their carbon and other greenhouse gas emissions, according to a recent report. Companies, municipalities, nonprofits and others will be seeking real estate that is energy-efficient, self-sufficient, and powered by clean energy.
Investing in clean energy increases the value of your building and cuts down your operating costs. It can also increase tenant comfort levels and attract new tenants. The evidence is clear that for the real estate community, solar is an excellent investment opportunity.
What is the added value for property owners who provide solar energy for tenants?
Tenants enjoying lower electricity bills and no additional cost on fuel may be more Satisfied and willing to stay longer, reducing the time and expense of finding new renters.
Properties with a solar installation could also benefit from the growing number of organizations taking corporate social responsibility more seriously.
Extremely little or no maintenance
Increased property value. Property buyers are willing to pay more for a property that is energy self-sufficient with lower operating costs. Along with the property value, self-sufficient energy will also help increase your home’s equity value.
Public Relations. Publicity is a benefit you measure qualitatively; however, it is still a significant part of growing your business. Both stakeholders and the public at large will notice your innovation, commitment to the community, and ability to invest back into your company when local media picks up the story of your company going solar.
Big names in real estate industry have been getting a lot of press for their renewable energy initiatives. With the installation of solar systems to buildings, their is a significant reduction of carbon released into the environment, but if that is not compelling enough to switch, the economical and the financial value makes a stronger argument to convince you to go solar. You get a better standard of living with twenty-four hours, seven days a week uninterrupted power supply, it is noiseless, it is clean and you will definitely get a good return on your investment.
