In the last few years, the US corporate world has seen an increase in solar power adoption, with companies like Walmart and Apple taking the lead in solar energy installation. Given the cost-effectiveness of solar energy, this is hardly a surprise.
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Installing solar panels for your business can allow you to supplement your energy needs, reducing your dependence on non-renewable energy sources. And luckily, solar panel prices have dropped over the years, making solar panels affordable for small and medium-sized businesses. So, you don’t need to worry about costs.
If you wonder how your business will benefit from solar panels, discover five advantages of solar power for businesses in the guide below.
1. Reduced Energy Costs
A consistent energy supply is vital for the smooth running of a business. Therefore, most businesses incur high energy costs during their day-to-day operational activities. But, with solar energy, all that can change.
According to EnergySage market data, commercial property owners can save up to 75% on energy costs by using solar power. The average period within which a business can repay its solar installation costs is three to five years. Thus, the remaining energy savings are pure profit. This should be a relief for any business.
2. More Energy Security and Independence
Installing solar energy for your business will reduce your reliance on the national grid. This will make your business less vulnerable to power cuts and outages, reducing interferences with productivity. Additionally, storing energy on your premises ensures that you have a backup power supply that you can use if the main power supply fails.
3. Various Solar Tax Benefits
Local, state, and national government levels support green energy sources. So, they offer tax benefits and financial assistance to organizations that shift to solar power. Some tax benefits that businesses gain after installing solar power include the following.
Solar Renewable Energy Credits (SREC)
This benefit will allow you to recover your solar power installation costs from the energy produced by your solar power system. One SREC to 1000 kilowatt-hours and government frameworks have made it mandatory for electric companies to compensate solar power users for every SREC they produce from solar equipment.
Accelerated Depreciation
A federal government program called the Modified Accelerated Cost Recovery System (MACRS) allows solar energy users to write off their solar panel systems in the first year. This is unlike typical equipment depreciation deductions, which federal tax authorities spread over a product’s entire life.
Accelerated depreciation will improve your cash flow, allowing you to finance your solar energy installation costs.
26% Federal Investment Tax Credit
The US federal government allows solar power users a 26% tax credit on the overall costs of solar energy installation projects from January 1, 2020, to December 31, 2022. So, if you install a solar power system for your business before the end of this year, you will earn the 26% Federal Investment Tax Credit.
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4. Green Business
Questions You Should Know about bipv curtain wallsLearn the Art of Choosing 50kw Battery Storage with These Simple Tips10 best solar fans of 2023The Best Places to Buy what is c&i energy Online and In-StoreWhat size inverter do I need for a 10kW solar system?Using a renewable energy cost for your business communicates your commitment to sustainability. This will attract environmentally conscious customers to your business. Becoming a green business will therefore give you a competitive advantage.
Additionally, going green using solar energy will put your business on the path to achieving LEED certification, which is one of the most ambitious sustainability goals in the corporate world.
5. Increased Silence and Space
Unlike alternative energy sources such as mobile generators, solar energy systems will not take up too much space on your premises, helping you save on space. Additionally, a solar energy system runs silently, so you won’t have to deal with noise disturbance complaints if you have set up your business in a residential area.
Whether you have a large or small business, you stand to benefit greatly from solar power. Contact us today for solar product and installation services and start experiencing the above benefits.
Companies around the world are realising the great benefits of renewable energy.
In 2017, US companies bought 4.8 gigawatts of renewable wind and solar power, and 2018 is on track to far exceed that, reported Bloomberg.
Businesses across the globe are seeing the advantages of eco-friendly power: not only does it make them leaders in sustainability, but it also saves a lot of money.
This is especially true of solar power. Businesses can take advantage of free energy from the sun to accommodate electricity needs in their commercial buildings while safeguarding their budgets from unstable utility power costs.
In this blog, we’ll explore five reasons that explain why solar is great for business.
1. Solar power lowers operating costs
Commercial power can be very costly. Depending on how many buildings you own, the size of your facilities, and the specific electricity demands of daily business, your monthly power costs can easily run into the thousands every year.
Here’s where the value of solar comes in. A solar photovoltaic (PV) panel system will convert sunlight into the power you need. If your business is active during the day, you can run daily operations as you generate power...resulting in more cost-effective usage of energy. And of course, a grid-tied solar system allows your business to draw extra power from the electricity grid, should you need it.
A customised solar system therefore represents major cost savings, letting you reinvest the savings into your business, and focus more on growth.
2. Solar can help you plan more consistent utility payments
If you’re fully tethered to the grid, you’re affected by the fluctuating costs of electricity in New Zealand. As the years roll on, power costs are expected to continue rising, while prices vary unpredictably from one quarter to the next.
Reliable, monthly solar power generation means that, after installing and using your system for a few months, you’ll get a fairly accurate picture of your ongoing power costs.
If you’re fully tethered to the grid, you’re affected by the fluctuating costs of electricity in New Zealand. As the years roll on, power costs are expected to continue rising, while prices vary unpredictably from one quarter to the next.Reliable, monthly solar power generation means that, after installing and using your system for a few months, you’ll get a fairly accurate picture of your ongoing power costs.
Looking to see exactly where the savings come with solar energy? Read here.
3. Solar installations can raise the value of commercial property
Buildings that come with a solar system are attractive when they’re on the market. There’s a good chance you'll have a faster, easier time selling, and you may be able to do so at a higher list price.
Why is this? Solar panels mean businesses can operate more profitably with solar, and handle operations with more predictability.
4. Solar can give your company goodwill as a ‘green’ enterprise
Public awareness of renewable energy is growing fast. More consumers are supporting businesses that are helping to create an environmentally-healthy New Zealand.
Solar power is a perfect opportunity for a business to stand out as a ‘green’ operation. When eco-conscious consumers see that you’re actively reducing your carbon emissions by going solar, more of them may buy from you.
5. Solar is an easily maintained, consistent power source
Buildings that come with a solar system are attractive when they’re on the market. There’s a good chance you'll have a faster, easier time selling, and you may be able to do so at a higher list price.Why is this? Solar panels mean businesses can operate more profitably with solar, and handle operations with more predictability.Public awareness of renewable energy is growing fast. More consumers are supporting businesses that are helping to create an environmentally-healthy New Zealand.Solar power is a perfect opportunity for a business to stand out as a ‘green’ operation. When eco-conscious consumers see that you’re actively reducing your carbon emissions by going solar, more of them may buy from you.
Solar panel systems are sturdy and reliable. Once they’re installed and fastened, the panels can operate virtually maintenance-free for years on end.
In addition, commercial solar installations from World Solar are covered with a 25-year performance warranty. This means that, with our solar systems, you can rely on dependable clean energy for a long time without constant worries about servicing or interruptions in performance.
Solar power has more benefits for business than you might have expected. It saves money and helps control utility costs, is low-maintenance, and makes your commercial building more valuable... all while showing you off as a principled, eco-friendly NZ business.
Installing solar power is a great next step to give your business the edge today.
The company is the world’s best All In One Solar Power System supplier. We are your one-stop shop for all needs. Our staff are highly-specialized and will help you find the product you need.
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