Many businesses today are not aware of the fact that they can include solar power as part of their long term financial strategy.
They are simply too busy with other tasks related to their activity and forget that solar energy could be a great way to reduce costs and increase profits inside the company.
Nowadays, every business uses electricity, and in some cases, the costs involving Solar Power could represent a significant factor to lower or increase the profits.
As a general trend, the cost of electricity is increased every year because even today, energy is mainly generated from fossil fuels, which are limited resources on the planet.
More than that, the price of electricity could be increased even at a higher rate than inflation, which could affect the profits of the companies even more.
Benefits of Solar Energy for Companies
By installing a solar power system, a company can significantly reduce or even eliminate its electricity bills for decades to come (25 years and even more).
A solar panels system that can cover the energy demand of the company will protect the business from the rising electricity prices and will increase the financial security of the company.
Using a solar PV system that generates electricity for free, will allow the company to properly manage its budgets and expenses over a long period of time.
Solar is not only a tool to reduce energy costs for the company but is also an investment.
The company can earn annual returns on investments that exceed 30% or more with minimal risk.
The investment in the solar panels system can be recovered in only 3 to 5 years.
Environmental Benefits Related to Solar Power
Using your own solar panels to generate clean electricity during the day, will reduce the electricity consumption from the grid, which will bring significant benefits to the environment.
For every kilowatt (1KW) of solar power installed, the company will avoid about 1 ton of greenhouse gas emissions every year.
That is similar to planting about 20 trees every year for at least 25 years or even more.
The solar PV system installed on the rooftop of your building will indicate that the company is dedicated to sustainability and environmental protection.
Such an open position towards green living in the community could translate into significant brand and marketing advantages for the company.
If your company has high expenses with the energy bills or you simply want to be part of the future where renewable energy will become the main source of power used on the planet, you have to start by reading the definition of solar energy here.
After understanding what solar power means and how you can reduce the expenses of your company with the energy bills, you can start searching the market for the best options available to go solar for your business.
Don’t forget about the incentives provided by the government.
Over the past few years, solar panel prices have fallen dramatically, which means that today you can get a solar PV system at a lower price than before.
The investment tax credits available for companies can reduce your initial investment – generally by more than 50%.
The federal investment tax credit can cover up to 30% of the total cost of the solar PV system, and this can’t be considered as a deduction.
Your company can also benefit from accelerated depreciation provisions.
Doesn’t matter how you get the solar PV system for your company, because even if you lease the system, you get a loan to buy it, or you sign a Power Purchase Agreement (PPA), any of these options will significantly reduce your electricity costs without any upfront investment.
Any of these financing methods will require little or no money down, and the monthly savings on your electric bill will exceed the monthly lease or PPA payments.
Whether you choose to own or lease the solar PV system, your business will still be able to be protected against electricity rate increases and will gain control over its utility expenses, which will guarantee future success.
