Commercial Solar – How’s it doing?
The solar energy industry has seen tremendous growth in recent years. SInce 2009, solar panel pricing has dropped by 70% and in 2015 the solar industry was $40B – 20 times what it was just 6 years ago. But unlike the hyper growth of solar for homes and large scale solar farms, the solar market for small and medium sized businesses (“SMBs”) has stagnated. However 2016 has been a big year for commercial solar so far. The commercial market has taken off and is expected to see 50% growth in 2016. While major corporations have been investing in solar for years, we see the SMB segment as largely underserved in adoption of solar. Here at SolarKal, our mission is to speed up the adoption of solar by SMBs.
What is happening with the fortune 500?
Some of the largest companies in the US have been making major inroads generating the majority of their energy with renewable sources into the near future. Apple, Google, SalesForce.com and many other companies are integrating renewable energy targets into their business strategies going forward.
There have been major developments in renewable energy strategy this year by some of the biggest companies. Here are a couple from the top of the Fortune 500 list:
- Apple recently incorporated a new business unit called Apple Energy which will manage the excess energy that its solar investments produce around the world. This entity will sell its excess power on the open market and take advantage of securities packages to further monetize their investments in solar.
- SalesForce.com recently put an aggressive target in place to operate on 100% sustainable energy by 2050 with a large focus on solar investment.
What does this mean for small – medium businesses?
Just as with any shift in business strategy, as the big companies blaze the trail we see many SMBs very curious about the benefits of solar power for their business. However, a major obstacle for SMBs is finding the resources to adopt solar. As made evident from the Apple and Salesforce.com examples, major companies have whole teams dedicated to managing the adoption and implementation of solar. At SolarKal, we give SMBs the same in-house expertise as the Fortune 500 companies have in making decisions about going solar. Now businesses can finally have a trusted expert that will serve their interest without hiring an in-house team, and help them join the solar revolution.