Integrating solar energy into your business may sound like a complex process. However, many commercial businesses have chosen to implement solar panels due to the multiple benefits. If you are interested in installing solar panels for your business, learn more about the benefits of solar energy for commercial buildings below.
How Can You Pay for Solar PV Installation for Your Business?
The primary issue commercial businesses face is where they will get money to install solar panels for their business. Business owners will have to come up with cash or use low-interest loans. However, businesses will experience the benefits of this investment as soon as possible. The payback period for the return on investment will be quick, and there won’t be any interest payments or financing concerns.
Another option for taking care of solar finances is utilizing a loan at a cheap interest rate. Of course, this depends on banks, the credit options available to your commercial enterprise, and several other elements that make it significantly more challenging to obtain a loan for commercial solar power. Even while you can use all the advantages of commercial solar electricity right now, you will see a return on your investment after the loan has been paid off.
Where Can You Install Commercial Solar Panels?
We have discovered that the optimal location for commercial solar panel installation is on an angled south-facing roof that can hold a sufficient number of panels to power your company. Usually, only some commercial properties will be able to satisfy these demands.
Installing solar panels in various configurations may be done quickly enough for you to benefit from the cost and environmental savings. Commercial solar panels are often installed on flat rooftops, carports, pitched roofs, or ground-mounted systems in areas with little foot traffic.
After installation, the benefits of implementing a commercial solar energy system are numerous.
Benefits of Solar Energy for Your Business
Solar energy has become a significant part of modern businesses. We will discuss some benefits of solar panels for commercial use below.
1. Unlimited Supply of Energy
The unlimited supply of energy will help businesses become energy-independent, which is a significant advantage. A solar setup can help you have dependable backup power in case of an outage.
This is necessary since the infrastructure and electricity grids are getting older and more vulnerable to storms and other climatic or environmental disasters. Even if the local infrastructure is damaged or the grid goes down, you can always count on having power when you use a solar panel arrangement and solar batteries.
For most organizations, it is more than sufficient to have power generated by solar panels. And, if you want to achieve energy independence and get the most out of your solar investment, you can install an on-site storage system.
2. Highly Reliable and Low Maintenance
Commercial solar panels are maintenance-free and make no noise like conventional generators, so business owners don’t need to worry about their installation.
The solar cells are enclosed and covered with protective glass and framed by non-corrosive metal to survive rain, wind, hail, snow, and any other weather-related threat present.
The roof hatch makes the installation process of solar panels easier. Generally, the photovoltaic cells that make up the solar panels very seldom fail, and if they do, you can report them to your provider.
3. Increased Property Value
Installing solar panels can help in raising the resale value of your property, regardless of whether you are the owner of the commercial business on the site or you own a property with a commercial business on it.
Property buyers prefer an already installed solar system on their property. They like to maintain and upkeep the built-in system rather than getting a new one and going through the prolonged installation process. When they buy the property, prospective buyers will benefit from cheaper electricity costs and carbon offsets.
Solar panels can endure up to 40 years or longer; therefore, the advantages of making such an investment can benefit the property.
4. Eco-Friendly Initiative
It’s difficult to deny that using solar energy to produce your own electricity results in environmental savings. You may run your commercial business without using fossil fuels, coal, or other harmful forms of electricity if you have a solar setup.
This way, you’re already set up to use the pure energy that the sun shines on your commercial property daily. It’s essential to consider additional energy efficiency upgrades throughout the solar process.
All these investments work to reduce your carbon footprint, and since you’ll consume less energy, you’ll require fewer panels. Your investment will be smaller, and your return will be higher in the long run.
5. Corporate Social Responsibility
There is an ongoing trend toward social responsibility and sustainability for corporate and commercial enterprises. Investing in a commercial solar setup can help you get a good start on the competition with increased sales and make it simpler to forge better business ties.
Customers, suppliers, vendors, and even local governments will likely share your principles, particularly if you put sustainability and environmental protection first. There are many ways to demonstrate your commitment to the environment, but from the perspectives of investment, profitability, and convenience of use, installing solar panels on your commercial property makes the most sense.
6. Ideal for All Size of Businesses
Once, it was a widespread belief that only small or medium size businesses benefit from commercial solar panels. However, thanks to modern and advanced technologies today, solar panel installation is paying off for companies of all sizes. You will ensure a strong financial return for your business by demonstrating to your clients that a solar energy system is an essential strategic solution in supporting their enterprises.
7. Enhances Local Economy
Commercial business owners help the local economy by contracting with a solar power installation firm. Furthermore, it also increases job opportunities because the workers who install the solar panels are from the local market. As the demand for solar panel installation increases, well-paying and exemplary job availability also increases.
8. Tax Breaks for Installing Commercial Solar Energy
Businesses using solar energy can take advantage of two federal tax benefits. These financial incentives shorten the payback period while increasing the return on investment of the solar system.
Solar Tax Credit
Companies that buy solar systems before 2033 are eligible for a 30% tax rebate. It makes sense to urge prospective business clients to go solar before the incentive decreases because it will drop to 26% in 2033.
A tax credit is a decrease in federal taxes made dollar for dollar. The corporation must have a significant tax appetite to benefit from the tax credit.
9. Accelerated Depreciation or Bonus Depreciation
Businesses can adopt the Modified Accelerated Cost Recovery System to deduct the system over six years or apply 100% of the depreciation in year one with bonus depreciation. A distinct portion of the system is depreciated according to the MACRS depreciation schedule.
10. Increases Business Reputation
Another benefit of commercial solar panels is it increases the reputation of a company due to its dedication to clean energy while also helping with energy efficiency. It would be best if you also recommended solar panels to your clients to convey a positive message about your dedication to sustainability and appreciation for the environment.
You will create a positive image when you let your coworkers, clients, neighbors, or even visitors know that you support the green movement. You can persuade your client that switching to solar energy not only benefits the environment, but also greatly impacts business reputation.
Solar Installation from Coldwell Solar
Commercial power costs are rising in many parts of the world, raising operational expenses. When energy prices rise, there is uncertainty about future electricity rates, which makes planning challenging. This is particularly valid for companies that highly need electricity. Commercial solar energy projects can help save energy costs while benefiting the environment. If you’re interested in starting a solar energy project, contact Coldwell Solar to learn more.