If you own a business, you are likely looking for ways to be more efficient and save money every day. Whether it’s in how you operate, creating efficiencies, removing obstacles, settling deals, or in how you power your facilities, there are savings to be found. Especially when you consider switching to solar energy.
Rooftop solar for homes has been around for decades, and likewise, there are many businesses that have adopted this clean, affordable, reliable way of powering the things they do each day. But solar for business isn’t a one-size-fits-all solution. There are several options to consider based on your available space, and what’s best for your needs and budget. No matter what form your solar panels take, you can save energy and money every month.
Solar panels and solar energy systems usually come with a 25-year lifespan, and warranty, because solar panels rarely break.
Here are 10 reasons why you should give solar the green light for your business.
- You have more control over your energy bill with solar.
While the cost of energy from your local electric company can go up and up without warning, the price you pay for energy with solar is fixed to your financing terms. And once it’s paid off, you own your energy free and clear. Going solar offers your business the chance to be free from the electric grid, and its problems, so that your business can continue every day, rain or shine, like clockwork.
- Federal Tax Credits
There are special incentives for businesses to go solar that can significantly reduce the cost of going solar for your business. This year, the federal solar investment tax credit (ITC) is set at 26% for solar installed in the next two years and will decline over the coming years until it settles at a permanent 10% for businesses. Get your solar installation done this year or next to make sure you maximize the amount of tax credits available for taking this step towards renewable energy.
- Set, meet and exceed corporate sustainability goals
Companies like Google, Apple, and Target all have added solar, and while these corporate giants have ample opportunity for solar panels on parking garages, distribution centers, and more, don’t let that deter your smaller business from going green. There are so many different ways that a business can incorporate solar into its energy plan. Don’t let the tech giants get all the solar rewards!
- See solar as an investment in your business with a great return
Your return on investment (ROI) for solar starts the moment you turn on your system. That’s because the rate you pay for energy with solar will be much less than what the electric company is charging you. Once your system is paid off, your energy bill can even be eliminated entirely. Solar panels are maintenance-free for the most part.
- Lower your operating costs
When your solar energy system is paid off, which can be sooner rather than later if you take full advantage of incentives and tax credits, your business will reduce its overall operating costs. Most find that installing solar pays for itself within five to seven years, while the system itself generally has a lifespan of 25 years. That’s potentially decades of savings for your bottom line.
- See property values rise
Solar energy is a bonus for those looking to purchase commercial real estate, especially in today’s climate. Customers love a forward-looking business that is aware of its impact on the environment, and business owners love saving money on energy AND having the freedom of having a suitable backup if the electric grid fails due to equipment failure or a natural disaster or storm.
- Going solar today is more affordable than it’s ever been
While solar has been around for a few decades now, today is a great time to benefit from all of the development and technological advancement that has happened in that time. Today the price of solar panels has come down 70% compared to what it was just 10 years ago. Add tax incentives to that and your costs are reduced even further.
- Be cash-flow positive
Spending less money on your energy bill each month means more money in your pocket, or on your books, to help improve your business however you see fit. And once the panels are paid off, that cash flow only goes up. There are also programs like net metering that can help you sell your excess solar energy back to the grid and actually earn credits on your bill each month.
- Boost your brand and your corporate image
An often-overlooked benefit of going solar is the optics! Yes, savings are great, and those are a given, but did you know that sustainability is becoming a bigger and more important selling point to a lot of consumers? They like to know that the goods and services they are buying are supporting the environment and that the businesses behind them are committed to protecting the planet as best we can for future generations.
- Contribute to the local economy
Many business owners we talk to are a part of the community where they deliver goods and services, and when you go solar, you are likely employing a local company to come and complete the install. It’s important to do your research on the company you choose because they will become your touchpoint for questions/concerns and even maintenance as the years go on.
Commercial solar is a great way to include clean energy and generate savings that can help your business thrive. It’s easy to maintain, as solar panels are built to withstand the elements of wind and rain and even high-powered storms.
Here are some ways businesses can incorporate solar.
Ground Mounted Solar
Ground-mounted solar is also a great way to use solar panels for a business that has extra unused land. Often Agribusiness—farms are a great place for ground mounted solar, and the energy produced can help to power other facilities on-site to reduce one of the largest monthly expenses—their energy bill.
Parking canopies are custom built solutions that cover the area where your employees or customers park their cars. Businesses appreciate this option because not only does it offer the benefits of affordable clean energy, it also offers shade and rain protection for cars and people.
Parking Garages and Large Buildings
Large building structures are also a great place to install solar panels. Places like parking garages, distribution centers and warehouses—these locations offer ample rooftop space just waiting for solar panels to help offset energy costs.
Commercial Buildings—as long as you own your location, you can add solar panels to your building and offer your customers and employees the satisfaction of knowing you are a sustainably-minded business.
Let’s talk about how your business can benefit from solar panels. There are many options and ways to install clean, affordable solar for commercial use and with the right incentives and tax credits, you could be the owner of your energy for decades to come.