Nowadays, solar power is increasingly popular and widely applied. Having an investment of 1MW of solar power is a reliable choice for businesses. An investment of 1MW of solar power brings many benefits and high economic efficiency.
Let’s learn about the investment rate of 1MW of solar power through the article below!
What is solar power?
Solar power is, renewable energy source and is becoming a potential energy source for the present and the future. Solar power is produced by converting solar radiation into electricity. This process does not create emissions and does not pollute the environment. In addition, installing a solar power system is not too complicated.
This is considered an effective therapy and will gradually replace traditional fossil energy sources in the future. Therefore, solar power is a promising field for businesses that want to invest in solar power to make a profit.
What is the investment rate of 1MW of solar power? Is it necessary?
Investment capacity of 1MW solar power is an investment project to produce solar power with a capacity of 1 MW (megawatt). Investing in solar power brings many practical benefits and creates high economic efficiency, especially for businesses and factories.
Besides, the installation work as well as procedures for investing in rooftop solar power are also quite simple. Currently, there are many solar power system providers that support customers with these issues. You need to consider choosing a reputable and suitable unit to get the best solar power investment rate.
Learn more: formula to calculate solar power capacity
Benefits of having an investment of 1MW of solar power
An investment of 1MW of solar power brings many benefits, especially for large businesses. Below are some noticeable benefits when investing in solar power.
Having an investment of 1MW of solar power means your business is using electricity converted from sunlight generated by the business itself. The solar power system will generate a large amount of electricity to serve the needs of offices and factories in businesses.
Therefore, businesses will limit getting electricity from the national grid or traditional power sources. From there, the business’s monthly electricity costs will be significantly reduced, helping the business save a large amount of money.
At the same time, saving electricity costs also contributes to reducing production costs, contributing to increasing profits for businesses.
Active power source
A great benefit that cannot be ignored of investing in solar power is that it helps businesses proactively source electricity.
When deciding to invest in solar power profitably, businesses not only have economic profits but also have the initiative in business and production. Specifically, by using electricity produced from a solar power system, your business can completely proactively generate electricity, independent of the national power grid.
This means that when a sudden incident occurs on the national power grid, your business will not be affected much or even at all. Offices and factories still operate normally for production and business, ensuring stable productivity and product output.
Proactive power sources also contribute to reducing the burden on power units in the region. This is extremely useful if your business is located in industrial parks or export processing zones, where electricity usage is extremely high.
Enhance brand value, increase competitive advantage
Currently, the movement to use green, environmentally friendly energy sources is being promoted in all areas of life. Your business’s choice of solar power investment will contribute to improving its brand value, which is a great advantage in terms of customers, thereby increasing the business’s competitive advantage.
In today’s developing times, enhancing brand value and increasing competitive advantage is extremely necessary. This will help your business attract many potential customers, opening up many new business opportunities.
Increase the lifespan of the factory’s roof
Applying an investment rate of 1MW of solar power, businesses will use a large portion of the empty area on the roof to place solar panels.
Normally, the roof will be empty and influenced by the weather and regional climate. However, when installing solar power, solar panels will help protect the roof, avoid negative impacts on the roof such as sun, rain… increasing the lifespan of the roof.
Investing in rooftop solar power does not affect the factory space and protects the roof. This is a choice worth considering for your business.
Fast payback time, reduced installation costs
Nowadays, investing in solar power is no longer strange, more and more units providing solar power systems appear, and installation technology is increasingly improved. Therefore, the cost of installing solar power has also decreased significantly, the investment rate of 1MW of solar power has also decreased significantly compared to previous years.
With low installation costs and significant economic efficiency created from the solar power system, businesses will quickly pay back capital within a few years and even make a lot of profit.
Office and factory spaces are cooler
Solar panels installed on office and factory roofs will absorb solar radiation and heat energy. This reduces the amount of heat radiated to the roof, making the factory office much cooler.
Cool office and factory spaces also help save costs on cooling systems, helping machines in the factory operate more stably. This is also one of the benefits of solar power investment to help save costs for businesses.
What does the investment procedure for 1MW solar power include?
When it comes to solar power investment procedures, the vast majority of businesses mistakenly think that the procedures are complicated and are afraid to register. However, the procedure for investing 1MW of solar power is extremely simple and easy to do, and does not take too much time.
For an investment of 1MW of solar power, businesses do not need to apply for an operating license from the power company but only need to register with the electricity buyer. Detailed information about the installation of solar power systems is clearly specified in Circular No. 18/2020/TT-BCT of the Ministry of Industry and Trade.
In addition, the 1MW investment rate is also included in the incentive mechanism for solar power development in Vietnam in Decision No. 13/2020/QD-TTg. You can refer to consider investing 1MW for your business.
Notes when investing in solar power
When planning to invest in solar power, businesses need to pay attention to the following information so that the investment process goes smoothly and brings high efficiency.
Things to note when investing in solar power:
- Design and scale of solar power system
- Choose a suitable location to install the solar power system
- Risks and solutions when investing in solar power for profit
- Legal regulations and necessary documents
- Solar power investment costs
- Ability to return capital and generate profits
Above is some information about the investment rate of 1MW of solar power and the benefits of solar power investment. This is an investment solution that brings high profits as well as high economic and social value. Hopefully the above sharing will help your business make a wise choice when investing in profitable solar power.