To put it in perspective, 10 MW can easily light up multiple localities and thousands of houses. While the bills per month in these malls range in plenty, one way to reduce them is by installing solar panels. The amount of power gained using the sun's radiation can slash the cost of power per month and add to the profits made.
How would malls benefit?
A full-fledged shopping mall spans acres of land with a fully air-conditioned interior,
elevators, backup generators, overall lighting, security aspects, parking lights, and many more. All these electricity-based equipment and machines run almost the entirety of the day and end up consuming thousands of units of electricity per day.
Installing solar power panels on open areas, most commonly in terraces, acts as an alternating source of power and contributes significantly in different segments. Although the usage of conventional power might still be largely imminent, the dependency on one source of power is drastically reduced.
Solar panels come in different sizes and shapes and are always customizable to suit business needs. The one-time installation is what would make a difference and allow the panel to work for close to three decades. Therefore, businesses could easily make up the cost of a panel in no time and reap the benefit of affordable electricity bills for generations to come.
Solar panels: Ultimate savior for grid failures
Imagine the situation in a mall when there is a sudden grid failure in the vicinity. The probability of power disruption could easily dent any business performance and incur heavy losses till the power is restored. With solar panel installation, it is possible to reduce the majority of adverse effects of grid failures. These panels are equipped to function efficiently and generate temporary power till the main grids are restored. Thus, there is no downtime in the business.
Stepping up the brand reputation
The importance of installing a solar panel is far from just having a set of panels and benefitting on the monthly electricity bills. Instead, a solar panel installation earns a reputation for the business/mall for adapting to use of green energy and opens a positive image about the business, that it cares about the environment.
Additionally, Gen Z visitors are more inclined towards preferring brands and businesses that address an issue about the environment in any size or form. Installing a solar panel would intrigue them and make them appreciate the brands and the mall in general for joining hands to promote green and renewable energy. In fact, many malls across the world have incorporated the use of solar panels and have saved crores of rupees annually.
Government subsidies: additional benefits
The government of India has a list of schemes that encourage both individuals and businesses to adopt more solar panel setups. These subsidies and grants ensure that, right from the cost of installation to the overall business, savings are more affordable and encouraging.
Net metering benefits allow businesses to send any surplus power back to the power grid and thereby earn the benefits of having reduced electricity bills. The system allows and encourages more businesses to install solar panels and send the excess power back to the grid for additional savings.
Solar power: Smart investment for the future
Businesses revolve around making and investing money in several ventures. One of the smartest and popular means of investment is installing solar power panels. There are several reasons why:
- Fixed power savings advantage: The biggest advantage of having a solar panel is reduction of bills for years and decades to come. Plus, electricity is arguably the single most expensive proposition in any shopping mall, and with reduced billing, this is sure-shot savings on the monthly bills.
- Additional backing from the government with schemes and offers: As discussed, schemes and subsidies allow the government to maximize its earnings with reduced costs of investment.
- Selling green energy: Businesses can additionally boost their revenue after selling the power to distribution companies for a reasonable rate.
Thus, from the time of investing in solar power installation to the usage in reducing power dependency, shopping malls can rake up their earnings even more with green solar energy. This, for sure, is a smart and stable investment.
How Freyr Energy is pioneering commercial spaces with a solar-based future?
Freyr Energy is on a mission to change the dynamics in both commercial and residential segments in India concerning the usage of solar energy. The company has been on the mission to increase the number of solar panels across various businesses across India, which include hospitals, malls, petrol bunks, and even small industries. Freyr Energy helps businesses customize the type and size of solar panels required and gives comprehensive support. In the end, the future of malls and commercial space is solar, and Freyr Energy is set to make this a reality.