Now that solar is more affordable and attainable than ever, even the shrewdest business person can recognize the benefits of making the sustainable switch. That’s why small businesses everywhere are embracing the trend.
Home Improvement Leads explains why it’s a good idea to invest in a solar energy system for your commercial enterprise—not in the near future, but right now.
Lower and More Consistent Energy Bills
Fluctuating utility rates can make budgeting for a business difficult. But energy from the sun costs the same amount, every minute of every day: zero dollars. As soon as your solar array is up and running, you will see your business’ utility bills decrease, and you can immediately work toward a return on investment via energy savings. Especially if you live in an area with high utility rates that fluctuate often, the stability of solar will lift a burden off your shoulders.
There is currently a 30 percent federal investment tax credit for commercial solar projects, but it won’t last forever. Installing solar sooner rather than later will allow you take advantage of the helpful solar ITC for your project. Be sure to check out state, local, and utility tax incentives as well.
The savings and utility independence are certainly alluring aspects of converting to solar. But if you’re concerned about your business’ impact on the environment, money isn’t the only draw. Converting sunlight to energy is sustainable and eco-friendly. While there are some concerns about the sustainability of the manufacturing process, there’s no doubt that as the booming new industry matures, sustainability in manufacturing will only improve. Photovoltaic solar panels also have a performance lifespan of around 30 years (usually 20 are warrantied), which means you won’t be tossing them into the trash anytime soon. Plus, that’s two to three decades of carbon-free, renewable energy that helps keep our earth clean and preserve resources.
Green isn’t just a passing fad. Not only are customers and clients looking to shop and work with environmentally ethical businesses—they’re getting more savvy when it comes to discerning the walk from the talk. Consumers realize what’s at stake. At the very least, the majority are drawn to the idea of green, while the most perceptive customers are drawn to authenticity and proven action. In addition to paying off in the form of savings, your investment in solar could pay off when it comes to your bottom line.
A feed-in-tariff (FIT) is an arrangement that allows a sustainable energy producer to receive credit from a utility company for excess energy produced. When it comes to commercial solar, it’s called a performance-based incentive (PBI). With a PBI agreement, the performance of your system can pay off for you in the form of credits to your bill from your utility company. In order to receive the fullest extent of this benefit, your system needs to be properly installed so that it can perform at its best. Contact your utility company to learn about program guidelines.
Increased Property Value
You may be hesitant to invest in solar if you intend to expand your business to a bigger property soon, or even in the near future. But you can rest easy knowing that solar will appeal to potential buyers, which means you will sell faster and walk away with more money in your pocket. Don’t let your big plans for the future be the reason you don’t take advantage of savings now.