While the U.S. is seeing an ever increasing number of both residential and commercial installations, some business owners are still on edge about whether solar is right for their business. In this blog, I’ll list 6 benefits of commercial solar to highlight some of the main reasons businesses should consider switching to solar.
As of 2022, there are just over 13,000 businesses across the U.S. who use solar panels to source energy for their day-to-day operations. However, surveys show that many businesses who are considering solar put it off until “next year”, or “the future”.
Additionally, some small or local businesses read about about large fortune 500 companies going green to meet emission mandates, but figure they’re too small to afford it or to make a difference.
If you’re a business owner and you’ve considered going solar, we encourage you to read this article covering 6 benefits of commerical solar.
Today, commercial solar isn’t just about helping the environment or looking good in the eyes of your customers, although it definitely achieves both. Commercial solar also about financial security, reducing your business’ energy costs, and giving you more profit to work with.
Businesses of all sizes are now installing solar panels and it’s no surprise! Here are 6 ways your business can benefit from commercial solar power:
Is Solar Right for My Business? 6 Benefits of Commerical Solar:
- Save money on your electricity bills. Every year, businesses spend a lot of money on electricity, especially those with large buildings that require a lot of power. Lights, air conditioning, heating, security systems, computers, electronics, WiFi, elevators, and many other things that keep a building operational add up to large electricity bills. When your business installs a solar PV system, you will benefit from the low cost of solar power for more than 25 years which in turn decreases annual operating costs by up to 30%.
- Lock in the low cost of solar for years to come. Every year your business’ electricity bills grow due to increased energy rates and inflation. By installing solar, your business will be protected against both factors, helping to better predict and manage your budget, reducing your reliance on an uncontrollable and unpredictable expense, and increasing your profits.
- Benefit from solar incentives. Today, going solar has many added financial benefits. Businesses that go solar qualify for federal tax credits and may also benefit from local state incentives such as local rebates, state tax incentives, and energy efficiency and demand response programs that earn your business money for using less energy.
- Installing solar panels for your business is a profitable investment. Installing solar panels can generate great financial returns. Depending on how you finance your solar project, the cost of your solar system, and financial incentives in your area, you could earn up to a 30% return on your solar investments.
- Employees and customers prefer businesses that help the environment. By survey people prefer businesses who are socially responsible. Whether your business is large or small, your employees, your customers, and your community value your commitment to the environment and are more likely to work for or do business with you as a result.
- Support your local economy. For the last decade, the solar industry has been one of the fastest growing industries in the U.S., supplying hundreds of thousands of people with well paying jobs. When you choose to go solar, you’re supporting local solar installers and in turn help them continue helping other businesses go solar.
Ricardo Del Sol
Editor, Expert Solar