For many business owners moving to solar power has proven a hard nut to crack. The skepticism is mainly attributable to large corporations such as Target and Google, who tried to implement it and then found them not feasible. However, some business owners are adding on solar power and have benefited from it. Whether a large corporation or a small start-up, any business should consider giving solar power a shot as they stand to benefit from it in many ways.
Solar power is increasingly becoming the popular way to go for businesses that are looking for environmentally friendly options compared to fossil fuels. Solar energy is cost-effective and can save your business money in terms of operational costs, and can significantly reduce what you pay in energy bills. Also, you can use some of the energy in areas where your production chain is experiencing power challenges. Here are five benefits of commercial-solar for business owners:
Saves Your Business Costs
As a business owner, you constantly look for ways to cut back and protect your business some money. One way you can save your company or business money is by cutting back on energy costs each month. Some businesses with fully implemented solar power have experienced a significant drop of as low as 60% in their electricity bills. During the day, solar panel systems can provide free electricity. This, in turn, saves you the money you would have spent on your electricity bills.
Increases Your Property Value
According to various studies, commercial buildings with solar panels have higher property value and are likely to sell faster. This trend will likely continue for a while as multiple businesses are joining the solar movement. They are either doing this by adding solar panel figures to make their buildings look more attractive to their tenants. If you are offering lower energy bills which business owners will not want to work with you?
Tax Credits and Bonus Depreciation
Businesses installing commercial-solar panels benefit from Solar Investment Tax Credit (ITC). This gives a 26% federal tax credit and 100% bonus depreciation. Businesses can take an immediate first-year deduction on their solar installations.
Longevity and Sustainability of Solar Energy
Commercial electrical power is a commodity like any other. It is bought and sold on supply and demand. This makes you subject to today’s user rates and market forces. Many predict that the world will become less dependent on fossil fuels in the coming decades in the future. Gas and Coal-fired electrical generation stations will be more regulated on emissions and carbon footprints. This will then increase costs on fossil fuel generation, which will be eventually passed to the consumer. By converting to solar energy, you invest in your businesses’ future or the company’s bottom line. By installing a self-contained solar generation system, you will benefit from lowering your electrical consumption costs and protecting your company from future electricity costs.
Reduced Carbon Footprint
Solar energy has minor effects on the environment in comparison to fossil fuel energy sources. It has shallow footprints and does not release any greenhouse gases. Also, it does pollute water sources. Businesses that generate their solar energy reduce their emissions by using minimal resources drastically. Going green can help reduce some operational costs and spice up your image by making you look environmentally responsible.
Highly Reliable and Requires Little Maintenance
Commercial solar panels require little maintenance. In some cases, the structure of commercial buildings usually makes them relatively accessible. Solar cells are typically covered in protective, tempered glass that is framed with non-corrosive aluminum. This keeps them from becoming exposed to elements that can withstand rain, snow, hail, wind or any weather-related threats. It is very hard for photovoltaic cells that usually make up solar panels which rarely break down. However, if they break down, they come with a 25-year warranty. This means you are likely to enjoy clean electricity for 25 years or more. This is just as functional and more reliable than utility companies.
Switching to commercial solar can be an excellent way to save your business operational costs and improve your brand as environmentally friendly and responsible. Solar energy is becoming a popular option for many environmentally responsible corporations and businesses.