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The solar power industry is booming, and for a good reason!
Solar panels provide a clean, renewable energy source that can benefit homeowners and businesses in various industries and in a multitude of ways.
Currently, fossil fuels are still the most widely used energy source, despite the evident danger they pose to the environment.
In 2019, 80% of U.S. energy production and consumption came from fossil fuels.
It’s safe to say that solar technology has become a much more efficient and competitive form of energy production and consumption.
This is especially true when you consider the dramatic fall in the average price of solar panels over the past decade.
To be frank, it’d be surprising not to see a rise in companies making the switch over the coming years.
In this post, we’ll discuss five different industries that can benefit the most by utilizing new solar technology today.
Businesses that would benefit the most from installing commercial solar panels are those in the agricultural industry.
These include businesses such as those involved with growing crops, raising animals or logging wood.
In the U.S., the U.S. Department of Agriculture (USDA) has authorized programs to encourage those in the industry to install solar panels.
The Agricultural Act of 2014 introduced several programs to help with the following:
- Assistance with renewable energy development
- Assistance with making improvements that are energy efficient
- Installing new renewable energy systems
- Funding for complete energy audits
In short, the Agricultural Act of 2014 enacted several programs to make the switch much more affordable.
One reason large companies have put the brake on switching is the high costs that they see when using a solar power calculator.
When using calculators to determine costs, you must keep in mind that it’s not the final cost.
It’s highly likely that you may qualify for government programs to drastically reduce your costs.
Oftentimes, you can find programs in your industry to help with the cost of installing large-scale solar panel projects.
These include financing options such as payments, guaranteed loans and grants, to name a few.
Many consumers have switched to loyally shopping at brands that promote the use of green energy.
This is due to a majority of consumers becoming aware of the impact the products they purchase have on the environment.
And major corporations have been some of the first to take advantage of the sentiment change.
For example, Target has a massive portfolio of over 203.5 MW of solar capacity, making it the green energy leader in the retail world.
Consumer demand isn’t the only reason large retail corporations have been switching over.
Typically, these retail locations have significant roof space to generate nearly all the energy they need to operate.
By investing in large-scale solar panel projects, these companies will receive long-term gains.
These are long-term gains from having a nearly reduced power bill in addition to profits from increased customer loyalty.
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3. Technology Companies
In addition to retail giants like Target and Walmart, behemoth tech companies have been benefiting from solar panels as well.
These include giants like Apple, Tesla, Amazon and Microsoft, to name a few.
It was borne out of necessity and with the explicit goal of running the entire factory using on-site solar panels.
Apple has also been running on 100% renewable energy since 2018, and Microsoft has been driven to switch because of the enhanced financial predictability solar technology offers.
Tech companies also use solar panels to power their energy-intensive data centers.
This is to help offset some of that cost in addition to powering their headquarters.
4. Pharmaceutical and Food and Beverage
Pharmaceutical companies can benefit from solar panel technology in a few ways.
First, solar panels can help reduce the cost of electricity used in manufacturing, research and development facilities.
Second, solar panels can help reduce the environmental impact of their large carbon footprints.
Additionally, pharmaceutical companies will find solar panels extremely valuable to power their portable cold storage units.
With the help of solar panels, these units can maintain the viability of their items, such as vaccines, until they’re administered.
Food and beverage companies can also benefit from solar panel technology by using solar panels to power refrigeration units.
These companies can also use renewable energy to run energy-intensive equipment like those used for food processing like ovens and dehydrators.
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Solar panel technology can also greatly benefit transportation companies.
They’re not only useful for consumer electric vehicles, but they can also be used to power public transportation such as trams and buses.
By replacing older fossil fuel-driven transportation with ones that are solar-powered, the city has a fighting chance at reducing its pollution and helping reduce overpaying for fuel with taxpayer money.
Using Solar Power Technology for Industries
Solar power used to be nothing more than a pipe dream for those looking for ways to run a successful business that’s cost-effective and wary of its effect on the environment.
As you can see, solar power technology can be used in various industries to save money on energy costs in addition to helping reduce the environmental impact of running a business.
As solar panel technology continues to develop, we’re likely to see the number of industries benefiting from solar panels grow.
If you’re thinking of making the switch, there’s no better time than the present moment to give the sun a chance.