We all are aware of the benefits of solar energy today. Most households have even adopted solar energy as their source of power. But has your business adopted it yet?
Let us not live in oblivion that solar energy isn’t a viable source for us. Major businesses and firms are going green with solar panels, and we are talking about top conglomerates. Then what is stopping you?
Probably you did consider installing it for your office space but took a back seat due to other commitments. However, the time is now you can work towards building an ecologically safe environment for your business.
What is better than harnessing the clean source of energy directly from the sun? With an array of benefits, solar energy can give your business the needed sustainable makeover this year! Let us tell you how and why.
- 1 Are Businesses Today Going Solar?
- 2 What Are The Tax Benefits You Receive With Solar Panel Installation?
- 3 Why Should Your Business Go Solar Now?
- 4 How Can Your Business Benefit From Solar Panels?
- 5 What Are The Types Of Commercial Solar Power You Can Install?
- 6 What Are The Factors That Affect The Cost Of Solar Panels?
- 7 Endnotes
Are Businesses Today Going Solar?
Yes, most of the top companies are shunning off their traditional ways and dependency on electricity. You might be wondering whether solar panels are suitable for lifelong investment. Or if solar panels are suitable for small companies. Let us tell you this: companies today, big, medium, or small, have shifted to sustainable energy sources.
Harnessing solar energy is a smart way of generating electricity.
Why is it called the smart way, although it requires high levels of investment? Doesn’t it require ample space for the installation of solar panels? Yes, we agree with all. However, if you invest a tad bit more for the installation, you save tons of your money on electricity for a longer period.
Electricity bills in commercial spaces can be enormous. If you are a business owner, this might not be a surprise for you. For powering all your appliances and day-to-day needs, huge amounts of electricity are necessary.
Your only way to reduce your monthly electric fat bills is by adopting a cleaner source of power – solar energy. Thousands of companies today are adopting it, and you can too!
What Are The Tax Benefits You Receive With Solar Panel Installation?
The heftiest asset you get out of installing these solar panels is tax credits. Yes, you read that right. Since the government supports renewable energy sources, they offer incentives on tax and financial support to companies.
How impressive is that? Here are a few tax benefits that you can avail yourself of by installing solar panels for your office space:
Federal Tax Credit
Similar to residential solar power, commercial businesses also qualify to receive the Federal Investment Tax. So, if you plan to install a commercial solar system, you get a tax relief of 26% on the overall cost.
It is yet another perk of installing solar panels. You can deduct a portion of 85% of the value of the solar asset from your taxes after installation. It gets applied in the initial years of your asset.
State and Local Government Incentives
Apart from the federal taxes, you can qualify to receive a rebate from state governments as well. They do not lower the federal tax credits but provide several financing options that ease the investment option for businesses.
Solar Renewable Energy Credits
With this credit option, you get the chance to recover the installation cost of your solar system. The government calculates it based on the system’s energy production and helps you earn back the investment on all equipment.
Why Should Your Business Go Solar Now?
We all know how our electricity bills skyrocket every month. Going solar will significantly help your company plan out your financial budget. You can save up extra money every month, which you can utilize for other business ventures.
Switching to a more renewable energy source will not only cut down on your electricity bills but also positively impact the earth. Adopting a greener technology will motivate you and your fellow workers to be environmentally conscious individuals.
Additionally, it will build an overall reputation for your company in the eyes of your target customers. Today, people across the globe deeply believe in safeguarding the environment.
Hence, a small investment in these solar systems can lead to a bigger influence on the minds of your customers.
How Can Your Business Benefit From Solar Panels?
Now that we have discussed enough the necessity of solar energy for commercial spaces, let us tell you how they do. Many business owners still overlook the positives of solar energy and hesitate to replace the age-old technologies.
Let’s understand how a business can positively benefit from installing a solar system:
Reliable Energy Source
We have an abundance of solar energy available all day long. It isn’t the same story with fossil fuels. Solar energy is unlimited and is available across the globe. You need not be concerned about this source of energy running out of stock.
Reduction in Electricity Bills
If you are an enterpriser, you may understand the burden of clearing electricity bills. It is something that keeps increasing every month, and you cannot avoid it. However, with solar energy as a source to power your equipment, you can save millions every year.
By fixing a solar panel on your roof or within your commercial space, you can reduce your dependency on electricity considerably.
Solar Power Generates Good ROI
Solar panels can be a costly affair and can get you thinking if you need one. However, in recent years, the cost of these panels has been reduced and will continue to reduce more.
Apart from this, you get bestowed with government incentives and rebates to help you get a good ROI over the years.
Apart from being reliable, solar energy sources require minimal attention and care because they don’t have any moving parts. Most of the panels come with a warranty, and you can reap the benefits of it for a longer period. However, they would require annual cleaning to maintain their long life.
No Power Outages
With solar energy at your disposal, you can say farewell to power cuts and power loss at your place. The use of traditional ways of electric power affects the daily productivity of the companies adversely.
With the arrival of solar power, you need not be concerned about power shortages or outages. Solar power is available throughout the day, and hence you can carry out your responsibilities hassle-free.
Once you adopt cleaner and renewable energy sources like solar power, you lower your contribution towards carbon footprint. By shifting to sustainable energy sources, you reduce the emission of greenhouse gases into the environment.
Environment-Friendly Business Approach
Once you shift your focus to more renewable energy sources, you can identify yourself as an eco-friendly business enterprise. It will add more brand value and trust to your company. This approach is not just great for the environment but your business as well.
Attract More Customers
People today have become more environmentally conscious due to the depletion of our natural sources. Due to this, they support companies and brands that fall under the same category and are eco-friendly.
With a cleaner and greener approach, you will gain more customers and generate more revenue for the company.
What Are The Types Of Commercial Solar Power You Can Install?
There are three commonly installed solar panels or array types that you can consider installing in your business space:
Rooftop Solar Panel
Rooftop mounted solar systems are the most commonly installed commercial panels. The reason is they are cost-effective and efficient in generating electricity. Also, they can comfortably fit into the roof space.
However, it can be a problem if your building’s rooftop does not have enough space to accommodate the panels.
Ground-Mount Array Type
If your company requires higher levels of power and electricity to run everyday business, then a rooftop panel may be insufficient. A ground-mount solar panel is installed in an open space with a great surface area. Hence, you need not limit your panels to your rooftops alone.
Carport Solar System
It is a different approach to solar panels. If you have limited rooftop space and open area, car parking will do the job. It would be an exceptional idea to make use of your carport area and convert them into highly efficient solar panels. The best part is you do not need extra land for the installation.
What Are The Factors That Affect The Cost Of Solar Panels?
With the installation of commercial solar panels, you can cut down on your electricity bills, yet you need to take care of the initial charges. The primary factor that determines the cost is the size of the panels.
The bigger the size, the more you need to spend on its installation. Your energy requirement is also a factor that determines the cost. Additionally, you will also need to pay for the labor costs for the installation process.
So, if you are establishing up a ground-mount array system, your panels and labor charges will increase. Moreover, the quality and features of the array can also determine the overall cost of your system.
Environmental sustainability is the need of the hour for businesses across the world. A business strategy based on the protection of the environment will build more credibility and reputation for you.
Shifting to solar energy and solar panels for your power requirements will not happen in one day. It may take time for installation and even determining the type of the array system.
However, once everything is in place, you can relish the availability of a cleaner and greener energy source. So why the delay? Go green with Solar Panels Network USA today!