What is the Cost of Industrial Solar panel?

If you are someone who owns or runs an industry, the question of shifting to an industrial solar solution must have crossed your mind. The compelling benefits of solar panels are encouraging more and more individuals to adapt to solar energy and industries are not an exception to this. Running a commercial business requires a large amount of electricity which adds a heavy cost to overall operations. By going for an industrial solar solution, you can significantly reduce your bills and hence save money.

However, since the initial investment is usually high even for residential units, you should have an estimate of these prices on a commercial scale. To facilitate your decision, a guide about the cost of the industrial solar panel is given below.

Industrial Solar System Cost:

When we talk about the price of the solar system, it is compulsory to understand that there is no constant tag for it. Cost can be calculated based on the amount required to produce one watt of electricity from solar energy. Generally, it is $2-$3 per watt. Most industrial unit requires a solar system with above 200kwh of electricity-producing capacity. Based on this, the average price for different solar energy setups for industries ranges from $400,000 to $500,000 and more. Again, it totally depends on your business requirement. If you are looking for a leading solar company in Lahore to assist your industry in going solar, you can contact NGLE.

Factors Influencing the Cost:

The actual rates vary depending upon many factors including system size, equipment type, electricity usage, nature of business, and other such things. For example, if you have a large industry, you would require a larger system to meet its needs. Similarly, the cost will vary based on the number of solar panels used, mounting infrastructure, and the equipment type i.e., whether it is a monocrystalline, polycrystalline, or thin film. Moreover, you also need to identify how much electricity your business use and what is average electricity cost in your area as it also varies in different locations.

Furthermore, you have to decide to what extent you are going to depend on solar energy. I.e. whether you are completely or partially shifting to the solar system for your daily energy demand. You should also consider the energy efficiency of your site as different industrial appliances require a different amount of electricity to work efficiently. All in all, it is obvious that a food industry and a textile industry would have different energy requirements and hence, the cost of their solar systems would also be different.

Is shifting to solar worth the cost for industries? 

That is the most obvious question that comes to your mind because of the extremely high cost of the solar system. However, installing a solar system in your industry can reduce your electricity bills by up to seventy-five percent. With an initial investment of 3-5 years, you can enjoy free electricity for ~25-35 years. Since it is a clean energy source, it would also reduce your carbon footprint and would allow you to get tax relief from the government for this clean energy initiative.

If you are looking for a leading solar company in Lahore, You can Contact NGLE. We provide customized industrial solar solutions by doing a site analysis first and then giving recommendations that serve your needs efficiently.