Are Renewable Energy Options Right for Your Building?

Renewable energy solutions can be a feasible option to help reduce your building’s dependence on the grid so you are buying less energy in the summer — and all year long. However, renewable energy solutions often require a significant financial commitment and involve longer payback, so it’s important to consider what your goals are to determine if renewable energy sources are a good option for your building.

Four factors to consider

Utilities: Some utilities will charge a special rate for customers that use renewable energy solutions. This is important information to know in advance because it impacts rate charges and project payback. Research what tariff rate your utility would charge if you made a change to renewables.

Net metering: Whether or not your building uses net metering is an important consideration because some states allow customers to sell excess electricity to a utility and receive credit on their utility bill as a way to encourage the growth of renewable energy adoption.

Backup Resource: Find out if the renewable energy source you are interested in is a backup resource if the grid goes down, or if you would lose power completely even with the renewable in place.

Incentives: Many states and utilities offer financial incentives and rebates for businesses that invest in a commitment to renewable energy. Trane building professionals can help you determine what incentives are offered by your state and utility provider.

There are many moving parts to consider in making the decision about renewable energy sources for your building. Trane can help you determine the cost, feasibility and payback of a potential project, so you can choose the solution that’s right for your building.

Next week will begin taking a look at what summer reveals about buildings and what you need to do in preparation for fall and winter.