Renewable energy generation for residential, commercial, and industrial buildings has steadily increased over the past 10 years. In 2015, renewable electric generation accounted for 13% of total US energy production and is slated to grow significantly more in the next 10 years. On-site energy generation allows buildings to be more sustainable and resilient by creating their own energy and reducing their dependence on the grid.
However, on-site energy generation can be a confusing process. Well, we’re here to help. Here’s a run-down on on-site renewable energy generation and why you should install these sustainability measures to your building.
On-site renewable energy generation is the production of energy via sustainable methods on the property that consumes the energy. Building owners can choose to invest in on-site renewable energy generation in the forms of solar, wind, and geothermal energy on their properties to make the building more sustainable and resilient to power outages. The building will consume renewable energy when available, and has the option to resell excess renewable energy back to the grid.
The increase in tax credits and rebates for renewable generation, coupled with the decrease in production and deployment costs, have made on-site electricity generation much more accessible to building owners and property managers. These financial incentives have made renewable energy cost-effective – and can even result in cost-savings.
Installing on-site renewable energy generation on your property provides you with more options for saving money and promoting your commitment to the environment. Since you are generating your own energy instead of purchasing all of your energy from your utility company, you will save money on your monthly electricity bill. With the current financial incentives for producing and deploying renewable energy, the payback time on these measures is much shorter than it was 10 years ago.
Reducing your building’s reliance on the electric grid can ensure your building has power even during a power outage. As the nation’s aging grid infrastructure continues to be strained, alternative energy sources will become more important. Solar panels and other on-site renewable generation methods can gain you sustainability points for LEED and other benchmarking assessments. Plus, you can promote your building’s sustainability to attract more tenants and keep current tenants happy with your building improvement initiatives.
Check with your utility provider to identify the best renewable energy generation options for your site. This calculator can help you estimate the benefits of installing renewable energy generation at your property. While on-site renewable energy generation is a big step toward a more sustainable future, its massive impact will make your bulding more efficient, cheaper to run, and more resilient.