Are you looking for ways to reduce your long-term overhead, contribute to the community, and become more sustainable as a business? Then you need to go solar with your business.
Solar panels offer numerous benefits to businesses of every size, vertical and location, from increased efficiencies and financial savings to marketing opportunities and employee engagement. Following are five of the top reasons you should consider a commercial solar installation on your building.
1. Cost Savings
Solar panels can greatly offset or entirely replace the need for conventional power for the lifetime of the equipment, which can be upwards of 35 years. Depending on your location, most electricity utilities will even buy the extra power you produce. When factoring in the continuing rise of electricity costs, solar panels can often pay for themselves within a few short years.
The Solar Investment Tax Credit (ITC) is a national solar panel incentive that covers 30% of your solar system’s cost available the end of 2019. The 2019 tax code also allows 100% depreciation in the first year under the MACRS program and many states also offer additional incentives, including credits or rebate for installing panels (National Geographic, 2019).
2. Going Green
Solar panels are better for the environment when compared to other energy alternatives like fossil fuels, hydropower, or even wind power. Solar panels utilize sunlight and don’t emit the massive amounts of byproducts seen from fossil fuels, or interfere with wildlife or their ecosystems as seen in wind and hydropower.
3. A Better Look for Business
More and more, the public eye is turned toward sustainable living and responsible businesses. Installation of solar panels is a huge step toward increasing relations with customers and raising the public opinion of your company. It shows awareness and consideration for the local environment and the health of the community.
4. Employee Satisfaction
As with public relations, installing solar panels can also raise employee opinion and morale. An increasing amount of research shows that employee engagement grows with companies who focus on sustainability and social responsibility, as can be seen in this article by the University of Pennsylvania. It is very appealing for many people to work in a place that aligns with their code of ethics.
5. Awards and Certifications
Companies who openly demonstrate their commitment to sustainability are candidates for local awards and are also on the path to becoming certified as a B Corp. B Corps like Etsy and Ben and Jerry’s are revolutionizing the way businesses engage with the world and subsequently attract higher quality employees, serious investors and loyal customers (Forbes, 2018).
Are you ready to take the next step toward a better, more sustainable business? Contact us to set up a free consultation and learn how solar can benefit your business.