Solar Panel for Business
Every year, more and more companies capitalize on the opportunities presented by solar energy. Whether you’re running a small business or an enormous corporation, we encourage you to explore the benefits of solar panels for businesses. By investing in a commercial solar system now, you could reap the rewards for years to come.
The Benefits of Solar Panels for Businesses
- Clean, renewable energy
- Lower utility bills
- Reduced reliance on your electric company and their rates
- Long-term source of electricity
- Business Energy Investment Tax Credit (ITC)
- Accelerated depreciation
- Reliable and maintenance-free energy source
- Eco-friendly, supports a green business approach
- Appeals to environmentally-conscious consumers
- Possibility of installing solar panel carports
How Much Could Your Business Save with Solar?
As a business owner, you’re always looking for ways to decrease your company’s costs and increase its revenue. Solar energy provides an excellent way to achieve these goals while also decreasing your impact on the environment.
Once we know the specifics of your business, we can tell you how much a solar system will benefit your bottom line in the years to come. We can also help you explore the different methods you can use to reduce the costs of a solar system.
Savings and Value Provided by Solar Panels
By investing in the free, plentiful energy provided by the sun, you can greatly reduce your electrical bills. The average commercial property owner spends about $1,950 per month on electricity costs. After installing a solar panel system, these property owners lower their electric bills to about $500 per month, reducing the cost by approximately 75 percent (source). Over the lifetime of the solar system, the total savings equal an average of $587,377. Depending on the size of your business and the extent of your electricity usage, you might enjoy even greater savings.
In addition, electricity rates have continued to rise over the past decade, and as a consumer, you have very little control over the rates your utility company charges. If you choose to shift to solar energy, which has rapidly decreased in cost over time, you will enjoy significant savings. The higher the cost of electricity in your state, the greater the savings you’ll see by switching to solar energy.
Solar panels can add value to your business as well. First, they will increase your appeal to eco-friendly consumers. If you know a lot of consumers in your area make buying decisions based on companies’ environmental responsibility, consider using your switch to solar energy as a marketing tool. In addition, you could create solar panel carports that offer shade and protection to customers’ cars. If you transform some of those parking spots into electric car charging stations, you could attract customers with electric cars as well.
Reducing the Cost of Solar Panels
If you’re concerned about the upfront investment of solar panels for businesses, remember that there are many options available to reduce your financial burden:
- Tax Credits: With the Business Energy Investment Tax Credit (ITC), you can receive a tax credit, which varies based on the year construction begins, if your project is eligible. As of 2019, the rebate is 30 percent for solar energy systems.
- Accelerated Depreciation: Businesses are able to lower the cost of solar panels through the depreciation system MACRS. This economic tool allows you to recover some capital costs over your solar system’s lifetime.
- Financing Options: Solar Brothers offers financing options for businesses looking to invest in solar panels.
When Does Solar Make Sense?
While solar panels offer a lot of financial and environmental advantages, they don’t make sense for every business. Generally businesses with the following features can benefit most from the installation of solar panels:
- Businesses with lots of lighting
- Businesses with many air conditioning units
- Greenhouses, plant nurseries, and cannabis grow operations
- Buildings that house computer servers
- Buildings with refrigeration units, such as grocery stores
- Businesses that own large parking lots
We can install solar panels on roofs of existing buildings, mount solar panels on the ground, or create solar carports for businesses.
Contact Solar Brothers Today
Looking to increase the value of your business, reduce costs, and help the environment? Explore the benefits of solar panels for businesses. To get started, complete our quick questionnaire, and our knowledgeable team will provide you with an estimate. If you have any questions about how solar panels will work with your business, please contact us online or give us a call at 726-999-0299.