Benefits of Solar for Commercial Properties
Receive Your Free QuoteBenefits of Solar for Commercial Properties
To stay relevant as a business in today’s economy, you must show customers the value of your business. While what you offer is why your customers choose to work with you, they want to know that your values also align with theirs. With the presence of solar, you’re showing your customers that you are a steward of renewable energy and self-reliance.
Installing solar has many benefits beyond renewable energy.
Cost Savings and ROI
The substantial cost savings is one of the most compelling reasons for commercial properties to invest in solar energy. Solar panels significantly reduce or even eliminate electricity bills, leading to immediate and long-term financial benefits. The return on investment (ROI) for solar is substantial, often allowing businesses to recoup their initial investment within a few years. Investment in solar energy will also protect your business from utility companies’ price volatility and inflation. With solar, your business can lock in electricity prices and reduce reliance on the unpredictable electricity market.
Incentives
There are many solar incentives available today for businesses, which can reduce the cost of your system by nearly 70%. The cost of your system will come down to its size, the design, and your eligibilty for incentives.
- The Federal IRA: whether a homeowner or business owner, the IRA offers a tax credit equal to 30% of the cost of solar for your business
- Modified Accelerated Cost Recovery System (MACRS) and Bonus Depreciation: A depreciation benefit that allows you to lower your taxable earnings and recover the depreciated value of your solar installation over five years. Combined with the solar tax credit, you can earn tax incentives worth about 70% of your system’s cost. Or, you can take the Bonus depreciation which is similar to MACRS, but you take the full depreciation benefit in the first year of your investment instead of over five years. You must choose between MACRS and bonus depreciation.
Customer and Employee Satisfaction
Having solar is a visible signal to people that your company is serious about helping protect the environment. According to PwC’s 2021 Consumer Intelligence Series survey on environmental, social, and governance (ESG) issues, 80% of customers and 84% of employees are more likely to shop/work for a company addressing environmental issues.
Meet ESG goals
As environmental regulations become more stringent, businesses are under increasing pressure to reduce their environmental impact. Solar energy helps commercial properties comply with these regulations by lowering emissions and promoting the use of renewable energy.
More self-reliant
Solar Power allows you to generate your own energy on-ste, becoming less reliant on utility companies. When paired with battery storage, solar systems provide a reliable backup power source during outages. This ensures that critical operations can continue uninterrupted, safeguarding the business against potential losses. In areas prone to extreme weather conditions, such as Colorado and Montana, having a dependable energy source is valuable.
Smart Load Shifting
Solar and PV storage systems can help your business control their load shifting during peak times when electricity is more expensive. Solar and Battery combined allows you to use stored power throughout periods in which utility energy is billed at a higher rate.
More self-reliant
Save money, attract more customers and great employees, and protect the environment. Going solar for most businesses is a wise choice. Do you have more questions or want to get started? We’re here to help create a system for your business needs. Reach out today!
Grow Your Bottom Line With Solar!
