Energy costs are a major operating expense for any business. And as energy prices continue to rise, smart companies are looking to solar as a cost-effective alternative.
Regardless of the size of your company, solar for business is the future. But can it really save you money? Let’s take a look at a few of the ways solar can help keep you company up and running while saving on energy costs.
Solar for Business: Does Solar Energy Save Money?
Can your business save money by switching to solar power? Installing solar panels can be a big investment, but there are cost savings that could add up over time. Read this article to find out if solar for business makes sense for you.
Save On Energy Costs
There is probably no better example of sustainability than solar energy. And there are plenty of opportunities for businesses to take advantage of the benefits of this technology.
Data suggests that commercial property owners can save as much as 75% on energy costs by making the switch to solar, nearly wiping annual heating and cooling bills.
While some companies choose to invest in their own solar energy systems, others invest in a Power Purchase Agreement, a financial arrangement with a third-party developer who owns the equipment placed on the host customer’s site for a predetermined period of time.
Take Advantage of the Federal Investment Tax Credit
As of 2016, the federal government offers a tax credit equal to 30 perfect of the cost of the equipment for owners of newly stalled solar energy systems. This is in addition to a number of states that offer tax credit incentives of their own.
Solar is Reliable and Maintenance-Free
One of the great benefits of solar energy systems is that they require little to no maintenance. The panels are mounted on racks with no moving parts. Installation is a breeze, and after setup the system can essentially be forgotten as it goes about supplying power to your business.
Check out these 5 reasons to buy Predator Generators.
Changes in the tax code have encouraged companies to go solar, allowing them to deduct 85% of the cost of their investment the first year their solar energy array is installed. This is a major offset of upfront costs.
Overall Cost of Going Solar
Even as traditional energy prices rise, the price of solar panels has dropped significantly since 2011. And with options like PPAs, solar leases, and solar loans, businesses don’t have to spend a fortune in upfront costs.
It’s hard to ignore the financial value of a company making the switch to solar. Between the available federal and state tax credits and cash rebates, installation costs are reduced by nearly 45%, not to mention the undeniable importance of no longer relying on their city power grid to supply them with energy.
Good for Business/Good for the Environment
Choosing solar for business is a sound investment that generates fast payback and long-term savings. It’s a green technology that provides sustainable energy and thus less reliance on other energy sources such as coal and natural gas
Solar power for business is an alternative that helps in the battle against global warming, which saves money while also saving the planet.
Click here to see 10 tips on how to save money on electricity.