Energy bills are one of the major costs that a business has to contend with on a monthly basis. One of the best ways to reduce costs is to look for alternative energy solutions for your office and other related operations. Today, solar energy has become one of the “go-to” solutions for more and more businesses. Here is a look at how solar panels can save your business money.
1. Free Electricity Over The Long Term
One of the things that stop most businesses from installing solar panels is the cost. However, for businesses that are thinking long term, solar panels can provide a free source of electricity in two or three decades. In fact, there are a number of solar panel installers that give a 25-year performance guarantee for their products. If you have a company that plans on being in a building long term, then having a potentially free source of electricity makes smart business sense.
2. A Federal Income Tax Credit
Many businesses may not be aware that the Federal Government offers a Federal Income Tax Credit on the installation on solar panels. Currently, the Federal Government gives a 30% Federal Tax Credit on the installation on solar panels. There are also a number of states that offer their own State Income Tax Credit. For businesses that balk at the idea of waiting 25 to 30 years for solar panels to pay themselves off, getting that immediate Federal and State Tax Credit should be incentive enough.
3. Maintenance-Free Energy
One of the things businesses with solar panels do not have to worry about is the maintenance of the panels themselves. This is because solar panels have little to no moving parts. That makes solar panels a nearly maintenance-free way to enjoy green energy. Over time, a business can save serious money by not having to deal with upgrades to its electrical system.
4. Accelerated Depreciation
Going solar offers businesses a deduction of 85 percent of their investment. This makes solar investing easier than ever. Compare that to installing a conventional electrical system that only offers normal depreciation.
5. A Stable Source Of Energy
The last thing a business needs is to be knocked out of commission because of a power outage. This situation could be dire if the business deals with perishable refrigerated or frozen products. With solar panels, a company is not dependent on the energy grid. This saves the company money because they don’t need to invest in a backup generator. Also, the company doesn’t have to worry about the potential loss of income of business due to a lack of electricity.
6. Creates A Green Energy Public Relations Advantage
Companies are always looking for ways to get an edge in their marketing. Instead of a business having to invest hundreds of thousands or millions of dollars in market research, the company can simply broadcast the fact that they are a “Green Company.” Being environmentally conscious is important to many potential customers and clients. Going solar gives a company the opportunity to proclaim themselves a green company.
7. Protection Against Rising Energy Rates
Over the past ten years, energy rates have risen from 10.19 cents per kilowatt-hour to 10.66 cents per kilowatt-hour. As a business, you have to watch your costs. Since energy companies are public utilities, you cannot “comparison shop” your electricity. Instead, your business is at the mercy of the public utility monopoly. One of the best ways to free your company from being at the mercy of rising energy rates is to get off the grid. While the savings may not be significant during the first few years, you will be glad to be using solar panels over the long term.
NM Solar Group, a Rio Rancho solar panels company says, “It’s clear that choosing solar energy is a way to mitigate the continued rise in utility rates. Once you start harvesting your own electricity from your new panels, you are no longer dependent upon the utility companies.”
Just about every city that has a respectable number of sunny days per year has a solar panel installation company. You can simply do an internet search for solar panels plus your city to find a local installer.
Going Solar To Boost Your Business And Save Money
There are many advantages to going solar. From Federal Tax Credits to low maintenance, solar panels are the smart way to go green. Over the long term, installing solar panels can save your business a serious amount of money.