Solar Panels for Commercial Real Estate in Minnesota
As businesses strive to become more environmentally conscious and reduce their carbon footprint, solar energy has become an increasingly popular solution for sustainable energy generation. Installing solar panels on commercial real estate not only benefits the environment but also offers numerous financial benefits such as lower energy bills, tax incentives, and increased property values.
Cedar Creek Energy’s team of solar experts is dedicated to helping commercial developers and property owners navigate the process of solar energy installation from start to finish. We provide customized solutions that cater to your specific energy needs and work closely with you to ensure a smooth and hassle-free installation process. Whether you are looking to reduce your carbon footprint or save money on energy costs, our team is here to help you achieve your goals through solar energy installation.
Minnesota Commercial Real Estate Solar Benefits
Solar energy offers an array of benefits, with one of the most significant benefits being a reduction in energy costs. With solar panels installed on the roof or ground, commercial properties can generate their own electricity, reducing their reliance on the grid and lowering their energy bills. This can help businesses remain competitive and avoid unexpected energy costs in the future.
Potential tenants and buyers may be more attracted to properties with solar energy systems, which can increase the value of the CRE. Many businesses and consumers are looking for environmentally sustainable options, and solar energy is an effective way to demonstrate a commitment to sustainability. If you choose to have electric vehicle charging stations installed in your CRE parking lots, they can help to further improve your business’s environmental credentials, showing that you are committed to sustainability and reducing carbon emissions.
Solar panels require very little maintenance and have a long lifespan. Operation and maintenance are always handled by Cedar Creek Energy, which can save commercial real estate developers money in the long run. This makes solar energy a smart investment for many CRE developers and property managers.
Financing + Rebates
Take full advantage of the 2022 Inflation Reduction Act (IRA). Among other climate-positive initiatives, the IRA’s new Investment Tax Credit is game-changing for MN businesses considering a solar power installation or a string of solar projects over the coming years.
EPC Services
We design, install, and operate commercial solar PV arrays throughout the Midwest and have over 14 years of demonstrated experience with large, complex solar arrays. Learn more about our EPC Services online or by calling 763-334-6406.
Power Purchase Agreements
Minnesota businesses can convert to solar powered energy systems without tying up funds in a capital investment, or having any operating and maintenance costs, while cutting what they pay for electricity as they reduce their carbon footprint. This is done with a Power Purchase Agreement.
Operation + Maintenance
A critical component to maximizing your sunshine power is making sure you have a solid operation and maintenance agreement in place. At Cedar Creek Energy, we provide a suite of services that support green energy and sustainable building practices.
Commercial Solar Project Gallery
Financing, Tax Credits, and Incentives
At Cedar Creek Energy, every time we design a commercial solar energy system, we are designing it to become profitable as quickly as possible. This means that we help our clients take advantage of a number of credits, incentives, and financing options.
The most notable tax credit is the Federal Tax Credit for solar, which provides a credit for 30% of the cost of the system, and many commercial spaces can qualify for up to 60%. The property owner is also allowed to depreciate the system under the 5-year Modified Accelerated Cost Recovery System (MACRS), subject to certain conditions. Minnesotans who are developing or own commercial real estate can also benefit from local initiatives.
When financing a solar installation, developers and CRE owners have several options. Self-financing is always an option, but companies looking for an alternative can benefit from a power purchase agreement, an operating lease, or Minnesota’s Property Assessed Clean Energy (PACE) program, which allows solar users to pay for their system using a voluntary assessment on their property taxes for up to 20 years.
Power purchase agreements allow companies to convert to solar without being responsible for raising capital for the project. A solar energy company like Cedar Creek Energy is responsible for the design, permitting, financing, installation, and ongoing maintenance of the solar energy system. We then sell the energy produced by the system to your company at a reasonable rate that is generally lower than what you would pay your utility company. PPAs usually have a duration of 15 to 20 years, at which time the CRE owner can choose whether to continue the agreement or have the solar panels removed. An operating lease functions in a similar way, with the Lessor owing the solar energy system on the Lessee’s property and the Lessee making a monthly payment to use the system.
Solar Energy for New Commercial Real Estate Developments in Minnesota
If you are a commercial developer or contractor looking for a solar partner during construction, you can trust Cedar Creek Energy. Our solar experts will help you determine the components you’ll need installed based on your required energy output. We always operate and maintain our commercial clients’ solar energy systems, so prospective renters and buyers will be able to reap the benefits of clean energy without having to fulfill maintenance needs.
Both small and large commercial spaces benefit from solar, including:
- Office Buildings
- Retail
- Restaurants
- Healthcare
- Hotels
- Multi-Use
Reach out to our team to request a free solar bid for your project!
While the monetary savings are undoubtedly a huge incentive, the environmental benefits of solar can’t be ignored. The positive environmental impact of using solar energy to power any building, whether a home or business, include less air pollution and the need to use less non-renewable resources. Your city’s residents will be pleased to hear that their tax dollars are paying for a sustainable energy source, and the positive impacts of solar energy will benefit future residents for generations.
Installing Solar on Existing Commercial Real Estate
Many commercial real estate owners and managers who already own real estate are looking to add solar to their properties because of its financial and environmental benefits. Having many commercial tenants within one building or complex means more opportunities for energy overuse. If you are responsible for paying utilities as the property owner, solar can drastically reduce your costs. If the tenant is responsible, they have the opportunity to benefit financially thanks to meter aggregation, which allows solar power to go beyond common areas in commercial spaces and provide energy to individually metered tenants.
If you’re interested in attracting new, high-quality tenants, solar is a great option. Energy-efficient improvements can boost top-line revenues by producing higher rent and fewer vacancies. Additionally, socially conscious brands and organizations often seek out energy-efficient spaces to demonstrate their commitment to sustainability.
Request a free solar bid from Cedar Creek Energy to learn more about how we can add solar to your current commercial spaces.
