Being a business owner, you must know that the highest overhead expense is electricity cost. And also if you are reliant on a commercial power grid supply, you can face ups and downs in rates. A sudden rise in the electricity unit rates may create uncertainty in your business. You may find it difficult to manage the cash flow.
On the other side, solar energy is a good source of renewable energy. It is not only eco-friendly and economically sound but also it gives a high return on investment. Also, there is enough awareness of its good impact on the environment.
So, it’s high time to consider any best alternative to lessen the load on your business and take the benefits of solar panel installation.
As there are numerous benefits of solar energy, most businesses are going solar. That’s why the demand for solar panel installations is increasing. So, you seem to be curious about the incorporation of solar energy in your business to transform it completely.
Let’s dive in further to learn about its growth and reasons to consider solar energy beneficial for business!
The Growth of Solar Energy
Painful energy prices and volatile market conditions have pushed many companies to opt for solar energy. It is the best energy-efficient alternative to cut the price burden. If you invest in solar power for your business, you are protecting a significant source of income and placing you ahead of growing legislation as the Government itself emphasizes this.
Being a budgeted energy option, solar power is rising maturely for the past many years. In the coming years, you will see a great impact of solar energy on society. As per NREL (National Renewable Energy Laboratory), 40%-45% of the US energy portion will come from solar power by the year 2050.
Also, there is a guessed projection that by 2030, every 1 in 7 businesses will opt for solar energy. Till now, this need had touched around 97.2 GW, more than 0.34 GW in 2008. And as per the reports by the solar energy industries association, American businesses installed 14.5 GWs of solar power in 2017. This number was just 7.5 GWs in 2015. This fast leap of faith in solar infrastructure is clear proof that this energy has so much to offer your business.
Likewise, if you are looking for any rooftop solar panel installation for your business or home, you can contact any reliable solar power company that is heartily looking to generate exclusive and residential solar leads.
Let’s read further now to know the best reasons to consider solar power!
Benefits of Solar Energy for Businesses
You very well know that solar power is environmentally friendly. But apart from this, there are numerous advantages to getting from this renewable source. You can:
- Make Money
- Save money
- Secure the energy
- Create more and more jobs
- Raise the value of your commercial property
- Better utilize your payments
- Save for long-term
- Get excellent tax benefits
And the list of its benefits is endless. Here in this blog, we are going to discuss the 5 top reasons to make your decision final and to grow your business. Embracing solar in Ohio can provide significant benefits for businesses seeking to reduce energy costs and promote sustainability. Explore the potential of solar energy for business by learning more about this.
Reduction in Electricity Bill
For businesses especially tiny ones, the cost of commercial electricity matters a lot. And as you know companies are forced to increase the rates of per unit tariff as there is a boost in consumption of electrical appliances due to the rise in global warming. If you cross the unit slab one after the other, as decided by the company, the electricity bill will rise and rise.
But if you install solar panels for your business, you can easily cut down this big chunk of expense. Also, it is a free source of renewable energy. And if you are in tropical climatic conditions, you can get its benefits all around the year.
If you need extra power supply during windy days especially, you can have more solar panels. Hence, it all as on your requirement and choice, if you want to reduce your electricity bills and save your pocket to invest your money to further enhance your business.
Grow as Green Business
Everybody supports a business that uses environmentally friendly ways to create an impact in society. And solar power is one of the best opportunities for organizations to stand as ‘Green’ businesses.
Using solar power as your electricity source also reduces the consumption of fuels that reduce greenhouse gas emissions and pollution. Consumers are so eco-conscious nowadays to notice if any business is inclined to reduce carbon emissions. And they tend to be the customer of that particular company.
This way your company can also be part of the race that is battling against global warming. Being a ‘Green’ company can not only reduce operational cost but also serves as a great marketing tool to grow your business.
Having a ‘Green-company image in society creates a powerful impact on your customers and helps you to fetch more and more revenue.
Get a High Return on Investment
You not only can save money by installing solar power sources, but also you can make money by this. Solar energy for your business helps you to save money in various ways. Although it lets you pay upfront, you can earn back what you invested in four to five years. These long-term savings lets you get a good return on investment as solar panels roughly last around 25 years.
This way you can also free up your cash flow and with the saved money, you can spend it on different equipment and resources. It lets you grow your business rapidly.
Also, the government schemes, incentives, and the low cost of solar power equipment make it a sound investment for your business. You can also use solar power resources as a tax credit scheme for your organization.
Reliable and Consistent Power Source
One of the next reasons to consider solar energy beneficial for business is its reliability and consistency to support your company. If you are using electricity from other resources, you can face power outages in many areas sometimes. But with the sun’s power, you can get a consistent supply. Your solar panels save sufficient power to support your system effortlessly. You can also store it in batteries or you can also share the saved electricity with net metering policies.
You know commercial power failure is a fact of life. And it can be worse for you if you are in a power-sensitive business like cold storage. When you will have a self-reliant solar panel system, you don’t have to worry about any power failure.
Easy to Install and Maintain
If you don’t opt for a solar panel power supply because of its large grid of cells as you think they may be difficult to maintain. You are wrong then. Solar panels are super easy to install and maintain. Its installation and maintenance are also cheaper than expected due to its high demand and supply these days.
And if you are lucky enough, maybe you don’t have any need to maintain it during the whole life span of solar panels. This is possible maximum in case of no battery usage. And if you ever need to maintain it, the cost of very low for it. And sometimes, you can just clean it and good-to-go to get efficient output.
Together with these benefits, you can get abundant tax benefits for your business if you convert your business to solar energy.
- You can get Federal tax credit of up to 26%. The Federal government of the United States will give you approx. 26% rebate on the prices of solar infrastructure.
- You can also get accelerated depreciation on your solar energy equipment. This scheme is under the program MACRS (Modified Accelerated Cost-Recovery System).
- You can also cover equipment installation costs through the system’s energy production. As the framework of government, one SREC is equal to 1000 KWhs.
These tax benefits are something like a push towards sustaining the environment by the government. Just you have to make sure that you get your solar panel installed by experts and known brands. They will give you panels made up of the best materials that can last for around 25 years.
Closing Thoughts
What else do you want for getting an uninterrupted and cheaper power supply?
Nothing…Right. When you get so much to run your business effectively from abundant sunshine!
Apart from such fantastic benefits, solar power is super flexible and scalable. Taking a solar supply decision for your business can be a good one for you in the long run. It makes your company environmentally friendly and socially responsible too.
With such good benefits, most businesses and residences are taking small steps towards making the world a better place. And you can be a part of this by opting for your energy source from solar power.
Hope you better know the benefits to consider solar energy beneficial for your business. Harness the power of this significant renewable energy source in the most efficient way possible!
