How Is Commercial Solar Power an Investment?
Investing wisely contributes greatly to business success and commercial solar power can provide just that.
Just think for a moment. What provides an endless source of renewable energy every day? What energy can we use that we subject ourselves to every time we walk out of the house as we set off to work or school: the Sun. Over the years, homes and businesses have realized the Sun is something that can be used to their advantage. Saving money can be achieved whilst getting the amount of energy needed but, of course, there is always this: one has to spend money to make money. However, the investment of solar power can benefit businesses since the energy they receive after installing a solar energy system costs nothing at all. It’s free.
Another thing to keep in mind is once businesses install commercial solar power system panels, you also won’t have to pay for increases in electricity which adds up in your company’s pocketbook.
Additionally, the government gives tax incentives to those that install solar panels to a grid. Businesses will be able to afford this with the government promoting solar power.
Solar energy rebates the cost of solar power systems in over half the states ever since the Energy Policy Act of 2005 was put into action. The Energy Policy Act includes two ways businesses can receive a tax credit from the federal government. It depends on where you live, seeing as there are varying incentives in every state (i.e. In New Jersey, their rebates cover more than 50% of the retail costs), but just imagine how that would affect your business. You can qualify your business to up to 30% of the system cost which is up to $2,000.
Positive Cash Flow
It won’t take a long time for the money to start adding up. Having commercial solar power can create positive cash flow for businesses because the federal law allows independent power producers to connect to the utility grid. In other words, with a grid tie system, your business will always have a current because what energy you don’t use will be sold to the electrical company. Businesses can receive the full value of electricity by selling their excess energy back into the grid. Once the solar system your business has is paid off, the net metering keeps rolling and businesses get paid for extra energy.
Consumer Thoughts Matter
Consumers (more than 75%) are more likely to choose products from a business that is taking steps to minimize its impact on the environment. Also, about two-thirds of consumers agree that they are more likely to work for and invest in companies that are environmentally friendly. Using solar power can be beneficial in getting loyal customers since 70% of consumers also say they are likely to go out of their way to purchase products from green companies.
Businesses with a negative image tend not to do as well as those with a positive image and businesses that are eco-friendly will be more successful in that respect. Investing in commercial solar power can benefit your business by not only shining a beam of light on your business but by also creating a way to use energy while saving and making money as well.