The search for more sustainable and efficient energy sources has become more important than ever. Currently, solar power is leading the race because of its efficiency and its convenience for consumers. The US has more than 60 gigawatts of solar capacity installed which is enough to power over 11.3 million homes. But solar power isn’t just for homeowners and residential areas.
Commercial solar panels have a significant number of benefits for not just the environment, but the business as well. A few of those benefits include an upgraded reputation, massive financial savings, and a multitude of tax benefits just to name a few.
We’ll go in depth on how installing solar panels on your company property can help to improve your company’s reputation significantly.
While it’s well known that Millenials care a great deal about the environment and helping to protect it, it’s a lesser known fact that the Baby Boomer generation has also become a fierce protector of our planet. What does this mean for businesses? It means that the majority of the population with buying power is taking a closer look at the companies they’re doing business with.
For example, instead of shopping from the least expensive grocery store or the one closest to their homes, consumers are choosing to shop at the most environmentally conscious stores. This includes stores that are putting more thought and consideration into how their businesses are powered.
Installing solar panels on your business is just one step toward being more environmentally friendly, but it’s a huge one and one that consumers will be sure to recognize.
Aside from winning new customers because of your more sustainable business plan, by installing solar panels, you are also setting yourself up to save a great deal on electricity bills! According to EnergySage marketplace data, the average commercial property owner in 2018 paid around $2,000 per month in electricity bills. After going solar, these same businesses reduced their electricity bill to around $500 – a 75% reduction.
You might be thinking that even though they pay a lesser amount in electricity fees, they still have to make monthly payments on their solar system, so they’re probably not saving that much. However, most businesses typically pay off their system in 3-7 years which means they get to enjoy free electricity for the rest of the life of their system, which can be anywhere from 25-35 years.
Aside from the electricity savings, there are also numerous tax benefits for business who go solar. Some of these tax benefits include the Federal Investment Tax Credit, Accelerated Depreciation, and Performance-Based Incentives.
If you have more questions about how solar can benefit your business give Energy Concepts a call or visit our website to get your free quote today. We have been offering Fresno, California complete solar solutions since 1992.