Are you looking to improve the value of your organization’s assets? What about improving your energy efficiency or simply cutting back on costs?
The answer to these questions should be simple. Are you on the fence about whether solar is suitable for your organization? Here are six indisputable commercial solar benefits.
It is time to get honest about reducing your carbon footprint while saving yourself thousands. Read on!
1. Long-Lasting Savings
Commercial solar services can save your business money in more ways than one. The initial cost upfront is generally earned back through electricity bill savings within 3-6 years following solar panel installation.
From that point, the savings begin rolling in even more.
Commercial solar solutions are designed to last upwards of 25 years. This long life of electric savings leaves you with a massive return on investment. Your cash flow can turn to business-growing needs such as hiring, expansion, better technologies, and more.
2. Federal Tax Credits
Did you know the federal government offers tax credits to commercial businesses for solar installation and homeowners? Your business could be accessing some serious savings in the form of tax breaks thanks to commercial solar services.
The Federal Investment Tax Credit saves you 26% in 2022. Each year following 2022, that credit goes down to 22% in 2023 and 10% in 2024. This means the sooner you go solar, the more money your organization will save.
3. Protection from Increased Utility Rates
The fact is the energy market is unstable. Utility rates increase all the time. One of the most immediate commercial solar benefits is protection from rising utility costs.
Generate your own clean, low-cost electricity and secure your own fixed electricity rates. You do not even have to worry about fluctuations due to seasonal changes.
4. Reduce Your Carbon Footprint
If becoming environmentally friendly is a core value of your organization, then reducing your carbon footprint is one of the most significant commercial solar benefits. Many consumers today value clean energy.
Often, they make business choices based on whether an organization is environmentally friendly. Commercial solar power could work to improve your reputation with potential clients and enhance customer relations.
In 2020 alone, the United States generated 1.55 billion metric tons of carbon dioxide emissions through electricity use. Installing solar energy for your business will reduce the greenhouse gases generated by electricity generation yearly.
5. Enjoy Financing Options
Some business owners shy away from commercial solar benefits because they do not realize that zero-down financing options are available. Leasing opportunities and even government-supported loans are common for commercial solar services.
Even if you cannot pay for the installation upfront, the benefits of commercial solar are still available through various helpful options.
View a recent commercial solar project and get an idea of how commercial solar works for other organizations.
6. Limits Exposure to Potential Volatile Energy Pricing
Even as EIA and the World Bank forecast a decline in overall energy pricing, retail and commercial energy prices are on the rise for the first time in over 10 years. These prices are largely a reflection of an increase in wholesale power prices.
Two Harvard economics professors released a working paper in December titled, “Deregulation, Market Power, and Prices: Evidence from the Electricity Sector.” These professors reached the conclusion that as deregulation continues, higher markups from power generation companies offset efficiency gains and lead to higher wholesale pricing for the commercial and retail energy markets.
Access Commercial Solar Benefits Today
The case is clear: commercial solar benefits extend far beyond the five we have listed. If you are ready to educate yourself further or get expert advice on how commercial solar services work for your business, today’s the day.
Contact our team of experts to learn more about how we will work personally with you and your organization to develop a commercial solar power plan based on your goals and needs.