Why Go Solar? Essential Reasons Your Business Should Switch to Solar Power
As businesses and startups grow and evolve, they try to find various solutions for saving money and having a better budget management system. Going solar can be one of those solutions that will help your business save on electricity bills.
After all, investing in solar energy in the third millennium is not only a beneficial choice for your business but also a necessity for the earth and for having a greener world.
Instead of paying thousands of dollars for the traditional energy sources, you can make use of the energy of the sun sent to us naturally. And that’s exactly how the solar technology works: solar photovoltaic (PV) devices use the direct sunlight converting it into electricity.
Installing such technology in your company will essentially reduce your business’ monthly energy bills. Initially, there should be some investment on your side for the overall process of setting the technology up but it’s worth the money and it’s becoming more and more affordable every year.
And above all, solar energy is a good way to show the world that you care. It will make you competitive among other businesses and earn you a good reputation. This will result in customers choosing your company over those that use traditional energy sources.
Benefits of Solar Energy for Small Businesses
There are a number of good reasons for choosing to go solar but sometimes business owners don’t realize this and stick to the common means of energy. This happens because of the lack of information as many entrepreneurs think that solar energy is expensive or believe a number of other myths about solar power. Nowadays, especially during the past 2 years the costs for solar systems have greatly decreased and can be affordable for small businesses, even for startups.
To help you make up your mind and understand if it is beneficial for your business to go solar, we have made a list of the advantages of solar power for your business:
Reduced Energy Costs: Electricity bills are a nightmare for business owners and the worst part is that they keep rising. Businesses make use of a number of different devices and equipment that consume a lot of electricity making business owners pay thousands of dollars. This issue can be solved by means of solar power. Going solar will substantially reduce your energy costs helping you improve the budget of your company.
Federal Investment Tax Credit: Another financial benefit are federal tax credits. Business owners who have just installed their solar systems will receive a federal tax credit for 30% of the cost of the system.
Performance-Based Incentives: PBIs (or performance-based incentives) will allow you to get payment from the utility for the solar electricity that your system generates. PBIs are a good way of having a part of your investment in the solar system returned to you.
Accelerated Depreciation: This will allow a deduction of about 85% in the earlier years of the life of your solar asset.
Good ROI: As a result of all the above-mentioned financial benefits, you will receive a good return on investment (ROI) and be able to grow your business further.
Decrease in Carbon Footprint: Deciding to go solar will not only be a good investment for your business but also for the environment. Giving up on the traditional energy sources you will have your part in the decrease of the overall carbon footprint of the world. Solar energy is a clean and green source of energy that contains absolutely nothing that could be harmful to the nature - no greenhouse gases, no chemicals released into the air. Spread a word (via social media, news, etc.) that your company is using solar panels and has its own little contribution in the better future of the world and the nature.
Fewer Power Outages: Unexpected power outages are quite characteristic of traditional energy sources and might get business owners into serious problems (e.g., losing important calls with clients, missing out on task deadlines, etc.) resulting in financial damage. However, this is not the case with solar power. The probability that you will have to face a power outage with a solar panel is almost null. These systems will highly improve the level of your grid security.
Low-Maintenance: Solar systems require almost no maintenance. All you need to do is annual cleaning so as to keep the panels in a good shape and make sure they last long (the average lifespan of solar panels is 25-40 years).
More Loyal and Satisfied Employees: The good reputation of a company can be prioritized more by a potential employee than the amount of the salary. Employees will be more likely to be loyal to your company if they see your respect for the environment.
Support of the Local Economy: The demand for solar power contributes to the opening of jobs in solar companies supporting the local economy.
How Much Do Solar Panels Cost?
The costs of solar panels have been increasingly falling in the last few years. It’s been estimated that since 2011 the costs have dropped by over 80% making solar power highly affordable. Besides, there are always funding options for getting a solar panel for your company. Depending on the energy demands of your property, the costs can vary. E.g., a 30kW solar power system is a good fit for small and medium-sized companies.
A few factors that are decisive in the cost of solar systems are as follows:
Energy demands of your business
The quality and features of the solar panel system
Other specific requirements of the customer (maximization of the speed at which the system produces kilowatt hours/ optimization of the speed at which the system pays itself off)
Cost of solar permits
Grid connection fee
And last but not least, here is some numerical information regarding the costs of solar panels in New York:
The cost of solar panels is $3.19 per watt (on average)
Considering that a 6000-watt solar system is an average standard in New York, the overall cost you’d have to pay would be around $19,140 (not counting the incentives or refunds)
With the fall of solar energy costs, the demand for it is also increasing and more and more businesses start going solar which is a huge advancement in many aspects.
Don’t Think Twice! Go Solar Now!
All of the above-mentioned reasons are enough to ensure you in the benefits of solar energy for your small business. They will help you make the right decision.
It is understandable that you can’t switch your business to solar energy in one day. It is a serious process that takes time to be implemented. But all these efforts invested in the overall procedure of going solar are surely worthy because they will be returned to you after a short period of time.
If we also add to this the fact that you might be able to find a funding option for the installation of a solar panel in your company - there remains no reason why you wouldn’t decide to go green.
To sum up, just remember how important it is to have a better and cleaner environment. Your every little “green” contribution can be a huge change to the earth in this industrial and technological era. Make your business more competitive and step up into the next stage of growth by investing in solar energy.
In the end, don’t waste your money on something that pollutes the air you breathe - it’s simple as that! Consider all the needs and requirements of your company and take the right steps to have your business go solar