Table of contents
Solar panels are increasing in popularity as more and more people become aware of the positive impact that this cost-effective energy alternative has on the environment. Solar power allows homes and businesses to supplement their power needs, so they use less non-renewable fuel.
As a business owner, you stand to benefit from installing solar panels. Not only will a solar array help reduce your costs, but there are also a variety of tax benefits available depending on what state and municipality you operate.
What are the benefits of solar panels for your company? Take a look.
The Rise of Solar Solutions For Businesses
Some companies feel that commercial solar solutions are only attainable for vast Fortune 500 companies. However, this is a common misconception, as small and medium-sized businesses are taking advantage of solar power as well.
Solar power is a sound financial decision for most business owners. You can reduce your power bills significantly – often by more than 50%. On top of that, the cost of solar solutions for business has dropped considerably in the last several years.
As a result, companies of all sizes are benefiting from solar solutions. Businesses are finding that they can take advantage of lower power bills, significant tax incentives, and protect themselves from electric price volatility, all with one simple step.
Benefits of Solar Power
What benefits can solar power bring to your company? The truth is that most businesses find solar to be a very sound financial investment, and it helps their brand to show that they are environmentally conscious.
Energy Cost Savings
While companies are happy to help the environment, most are primarily focused on using solar solutions for businesses to reduce their energy bills. Energy savings from using solar power can be substantial, with some companies seeing a drop of 75% in energy costs.
Also, a business is often able to pay off their investment in solar within three to five years, which means the remaining savings are pure profit. Solar systems last an average of 25 to 35 years. When used alongside other energy-saving tools such as a commercial lighting control system, the savings can be substantial.
Protection From Changing Electric Rates
Electricity prices can be very volatile, especially in deregulated areas. Energy demand is continuously rising, and non-renewable sources of power are shrinking. Spikes in energy prices can impact your bottom line and cause stress on your operations.
In some areas, variable pricing changes the cost of electricity throughout the day. With commercial solar solutions, you can protect your company from this volatility.
Ability To Store Extra Energy
The rise of solar power systems has also directly led to the rise of solar batteries. Your solar panels may generate more electricity than you need during a specific time. Solar batteries are used to store this excess power and access it during times when you need more power, or the solar panels are providing less. A solar system is usually connected to the electricity grid. If your solar panels produce more energy than your business needs, the excess amount of electricity is fed back to the grid.
10 to 30% Return On Investment
Most businesses find solar power to be a great financial decision with a positive ROI. In many respects, a solar array generates annual returns. With all of the incentives and accelerated depreciation available, solar is an investment that can be paid off quickly. You can see a return on your investment of 10 to 30% a year since you get all or part of your power for free once the solar system is paid off.
There are a number of factors to consider when trying to calculate the ROI of adding a solar system to your business. First, business owners should consider the electricity rates of the current electrical bills. The amount of electricity you use directly affects how much you save over the life of your solar system. The higher the amount of energy used, the more the owner stands to keep in the long term.
Financial incentives on the federal, state and local levels will also factor in your ROI as many states offer rebates to encourage business owners to adopt solar power and other renewable energy sources. The ability to sell excess electricity back to the local utility and tax incentives provide more capital to offset the cost of your system.
Of course, you also want to do careful research and make sure you choose efficient solar panels that meet your needs and compare quotes to get the best deal for your company.
Become a Green Business
Showing your business’ commitment to renewable energy sources by using commercial solar solutions can help your business attract customers in a world where consumers are becoming increasingly environmentally conscious. People who recognize your commitment to sustainability will be more likely to promote and purchase from your company, which can build your brand. Your business will gain a competitive advantage not only by cutting costs but by building goodwill with customers around the country and even around the world.
The Natural Marketing Institute found that 58% of U.S. consumers consider a company’s impact on the environment when deciding where to purchase goods and services. Installing a solar panel system for your business will help you reduce your impact and win additional customers.
Solar Power For Your Business With Verde Solutions
If you’re ready to get started with solar power, let Verde Solutions assess your needs and help you find the commercial solar solutions that are right for you. We offer a free energy audit and research, design, and engineer a custom solution that will work for you.
We love making a difference. Here are two ways we’ve done it so far.
Verde Solutions Helping Dutch American Foods Save Electricity
This foodservice company is family-owned and forward-thinking. They needed a solar panel system that would help them operate more efficiently and bring more value to their customers.
They chose a 920kw roof mount system and were able to sell excess energy under Illinois’ Solar Renewable Energy Certificates (SRECs) program.
The solar panel system is supplying 32% of their site’s power needs, and they are not only saving on electricity, but they have additional funds from SREC payments.
RX Sun Providing Solar For Homeowners
While we want to help business owners, we know that homeowners are also concerned about their environmental impact. That’s why our sister company, RX Sun, provides solar solutions for residential properties.
RX Sun is locally owned and operated and offers full service from certified experts. Homeowners can rest easy knowing that quality workmanship is guaranteed. We care about the less fortunate, which is why RX Sun donates 1000 meals to those in need for every solar panel system they install.
Are you ready to see what kind of different solar power can make for your business? Let Verde Solutions help you develop a clear understanding of your energy needs and current infrastructure. From there, we can research, design, and implement a system that matches your needs.
Contact us for your free energy audit today!