How Affordable is Solar for Hotel Owners?

There is no doubt that an increasing number of solar powered hotels are opening across America. For owners of modern hotels, technology and luxury are a high priority, but this doesn’t need to cause damage to the environment. The solar industry is on the cusp of being an affordable energy source, available to the masses. Hotel operators who are looking to combine modern design and comfort, with a sustainable and green approach, should seriously consider installing solar panels.

Solar Could Soon Be the Cheapest Option

According to the International Renewable Energy Agency (IRENA), the cost of solar is decreasing at a faster rate than all other forms of energy. It has already fallen 80 percent since 2009, while wind turbines have only fallen in price by about a third. Despite this, many business owners still believe that solar is not competitive.

By around 2027, solar is expected to be a cheaper option than both coal and gas, making it one of the most affordable energy sources. Unfortunately, this means that many hotel owners may consider putting off the switch to solar for the next decade. However, since it is already an affordable option, environmentalists should invest in solar panels sooner rather than later.

Other Saved Costs

While the initial costs of installing solar panels puts many hotel owners off, many do not factor in long term savings. According to Energy Sage market research, the average commercial property owners will see their utility bills drop by 75 percent after switching to solar. There is also the investment tax credit, which allows business owners to deduct 30 percent of installation costs from their federal taxes.

If you’re thinking of installing solar power for your business, know that your hotel will be generating free energy for up to 30 years, until your solar panel needs replacing. You can run your business guilt-free, knowing that no harm is coming to the environment, whilst also knowing you’re not running up huge bills by leaving electrical items running. Then there are maintenance costs. Solar panels are simple objects, with no moving parts. This means they are easy to maintain and you won’t need to hire a technical professional, keeping costs down.

Solar for hotels is set to become cheaper in the coming decade, but they are already an affordable option for hotel owners. Installation is cheaper than ever, but once installed you will see many savings. From tax breaks and lower utility bills, to unlimited free energy and little maintenance, switching to this sustainable energy source makes perfect business sense.