When corporations came under heavy criticism due to their enormous consumption of energy and use of sources that were detrimental to the environment, a partial transition to solar based energy was a way of redeeming themselves in the public eye. The motivation was that of moral and ethical instead of profit and saving on energy cost. Times have changed and the technology of solar harvesting has also advanced tremendously. Today, when companies consider a transition to solar energy, the ethical and moral elements remain but the prime motivating force is reduction in energy cost. While it remains a huge undertaking, the benefits and advantages of installing solar based energy in commercial buildings outweigh its cost. And this is not limited to big companies. This article will present the different ways how businesses of all sizes can gain from installing solar energy systems for commercial purposes.
#1 Great Return on Investment
Installing a solar based energy system is an investment that will continue to keep your energy cost low. While the initial expense may be huge, you’ll see the benefits month after month, and for years to come. From the day it operates, you will see immediate and considerable reduction on energy cost for your business significantly improving your bottom line. When considering shifting to a solar based energy system, consider it as an investment and not mere an expense.
#2 Reduces Operating Cost
Installing a solar based energy system can dramatically reduce the operating cost of your business. According to studies by Energy Sage, the overall energy cost in commercial buildings can see reduction by as much as 75% when shifting to solar. Though this depends on the size of the energy system installed and the portion of commercial electricity it replaces in a commercial building, it means to show how much can be saved on energy cost. According to further findings from the same study, commercial property owners in America paid on average 1950 dollars every month before going solar after which the monthly average for energy cost dropped to approximately 500 dollars monthly.
#3 Control Future Energy Bills
When relying on commercial electricity supply, it is difficult to estimate operating cost for the future as little can be predicted of contingent events. When relying on an in-house solar based energy supply, prediction for your company’s future energy cost becomes more accurate. This is useful for planning ahead and making strategic financial goals for the future of your business. Using these predictions will help save your business from the sustainability of future fluctuations in energy prices.
#4 Tax Benefits of Solar Plants
One of the major advantages of solar energy installation for companies is its huge tax benefits. With the global emphasis on progressing towards sustainable energy usage, government bodies at local, state and federal level show support to companies transitioning to solar based energy by providing tax benefits and financial assistance programs to companies. These include a 26% Federal Investment Tax Credit(ITC) which allows your company to rebate 26% on your overall spending on a solar system, an accelerated depreciation on your solar energy equipment and Solar Renewable Energy Credits (SRECs) which allows your company to reimburse the cost of equipment installation through your solar panel system’s energy production. These are all initiatives taken by the US government to incentivize companies making a shift to solar energy systems.
#5 Growing Affordability of Solar Panel System
Solar panel systems are gaining popularity among both residential and commercial buildings because they are increasingly becoming affordable. According to research conducted by the Solar Energy Industries Association, just within the last decade the price of solar panel installation has reduced by more than 60% which is an enormous amount. This growing reduction in price compounded by the multiple tax benefits and financial assistance programs make it much more affordable and feasible for companies of all sizes to make a transition to solar based energy systems.
#6 Durable With Minimal Maintenance
Commercial solar panel systems are durable and require very little maintenance. Most solar storage cells have casings made of tempered protective glass that are held together by premium grade, non-corrosive aluminium. They have a robust structure that makes them resilient to natural forces like rain, wind, snow, hailstorm and thunder.
#7 Excellent Warranty Period
Because of the robust integrity of their design and structure, photovoltaic cells that form the solar panels hardly ever break down. In an odd event that they do, your company will have the benefits of warranty protection or services which are usually granted for 20 to 25 years, depending on the manufacturer. This is almost a guarantee that once installed, your company will be harvesting innumerable amounts of solar energy for the next 20 to 25 with very little extra input in cost and labor for maintenance and repair.
Many business owners sit on the fence vacillating about whether to invest in a solar energy system or stick with commercial supply of electricity. As proven from the points mentioned above, any company regardless of its size benefits from transitioning to solar. If you’re looking for commercial solar installation companies, Pacifico Power is a leading manufacturer of solar devices of various scales that offers installation services to its customers. To check out their state of the art technology in solar devices, visit their website.