Solar power has become a popular and preferred source of renewable energy in malls and shopping centers over the past few years. Properly installing on-grid solar system panels on rooftops or in parking lots can significantly reduce the overall energy costs for the entire commercial space.
Beyond being environmentally beneficial, there are many reasons to consider solar panel installation for your commercial space.
This blog provides valuable insights into the top benefits of installing solar panels in malls and shopping centers.
Why Should Shopping Centers Install On-Grid Solar Systems?
Installing rooftop solar panels in your shopping mall or retail stores is undoubtedly a smart move. Flat roofs of your commercial space are ideal for solar panels, which require ample sunlight to operate efficiently.
As a result, you can gain competitive advantages, such as reduced electricity bills, a minimized carbon footprint, and a solid return on investment.
Below is a list of reasons highlighting the benefits of using solar power for your shopping centers.
1. Meeting Statutory Requirements and Accreditation
In India, it is mandatory for buildings over 3,000 square feet to install solar power systems to comply with government regulations.
By installing solar panels, your shopping mall not only fulfills these legal requirements but also enhances its credibility and meets accreditation standards.
This compliance can improve public perception of your mall. This will showcase your commitment to sustainability, aligning with government efforts to increase renewable energy adoption.
2. Effective Utilization of Space
Solar panels can be installed on rooftops or over parking lots. This means that they don’t take up valuable space inside the mall.
On rooftops, solar panels can help reduce the building’s temperature, which can lower air conditioning costs and improve energy efficiency.
Similarly, solar panels on a parking lot can even provide shade for vehicles, which keeps them cooler, making the area more comfortable.
3. Branding and Improved Public Image
Investing in solar panels can really improve your shopping mall’s brand and reputation. Adopting to solar energy shows people that your mall cares about the environment, which can help set you apart from other malls.
For example, Cochin International Airport became famous for being the first airport in the world to run completely on solar energy. This didn’t just save money on electricity—it also made the airport more respected and well-known.
In the same way, solar panel installation on shopping malls can help boost your mall’s positive image among the customers.
4. Lower Energy Costs
Another benefit of switching to rooftop solar panel systems for your shopping mall is a reduction in energy costs. Shopping malls are known for high energy consumption due to escalators, HVAC systems, lighting, and more.
Solar panels harness the sun’s energy to generate the electricity needed to power the entire space, significantly reducing reliance on traditional energy sources and saving money, especially given potential future energy price increases.
With net metering, businesses can send any surplus power generated back to the grid, further reducing electricity bills.
This additional savings is particularly advantageous for shopping malls, as sustainability plays a major role in enhancing their reputation and appeal among potential customers.
5. Cost-Effective Investment
The Government of India offers an accelerated depreciation benefit to encourage solar panel installations and allows companies to claim higher depreciation in the first year and reduce taxable income.
With accelerated depreciation for solar investments, you can now claim 40% of the total investment in the first year, an additional 40% in the second year, and the remaining 20% in the third year.
6. Quick ROI and Faster Breakeven
One of the most attractive financial benefits of solar panel installation for commercial spaces is the quick ROI. Electricity unit rates in the commercial sector are notably higher than in residential areas. This allows businesses to break even faster, often within just 2 to 3 years.
This means your shopping center can start enjoying energy savings sooner and makes solar a financially viable option for long-term cost reduction.
7. Gain a Competitive Edge
As solar panel installation costs in India continue to decrease, generating energy through solar has become accessible for many businesses.
By adopting solar systems, your shopping center can gain a competitive edge, especially in the face of rising utility electricity bills. Compared to future utility costs, a solar setup will ultimately help you spend less than competing businesses.
8. Reduce Carbon Footprint
Beyond financial savings, another major benefit of switching to solar power is its zero-pollution impact.
As pollution levels rise, installing solar power systems is an effective way to reduce your shopping mall’s carbon footprint, fostering an environmentally friendly space for all visitors.
If you are ready take your mall to the next level, Elsol Power Solutions, the best solar company in Kerala, offers expert solar panel installations to help you save on energy costs and go green.
Conclusion
Installing solar panels on your shopping mall is a smart move that pays off in many ways. Not only will you save big on your electricity bills, but you’ll also improve your reputation and help India go green.
Choose Elsol Power Solutions PVT LTD, the certified solar installer with seven branches across Kerala, to power your mall sustainably. Contact us today to explore solar energy solutions tailored to your needs.
