Top 7 Ways Your Commercial Building can Benefit from Solar Energy
Did you think that switching to commercial solar panels will be a risky move for your business? Well, it is time for you to think again. Even large companies including Google, Apple, and others have added solar. So, what makes you think that such investments won’t be feasible for your business? Won’t you want to reap the rewards?
Solar is for businesses of all sizes. Any business owner can capitalize on the advantages of installing solar power systems. In other words, investing in solar energy can become a strategic decision that can benefit your business in various ways.
- Great Brilliant Return on Investment
When you think about installing a solar power system in your commercial building, consider it an investment but not an expense. Believe it or not, the ROI often exceeds your investments.
- Cut down The Operating Costs
Once you install solar panels in your commercial place, it will reduce your business’s operating expenses. And, it will show up in your business’s balance sheet.
- 3. Reduced Energy Bills
Once you switch to solar, it becomes easy for you to predict your electric bills. It will dramatically cut down your energy costs. At the same time, your budgeting will become easier because there won’t be any chance of energy bill increase.
- Increased Property Value
As per multiple studies, homes and commercial buildings with solar panels tend to have higher property values, and they sell faster. So, if your commercial building has lower electric bills, that’s a boon for you.
- Bonus Depreciation and Tax Credits
With the installation of commercial solar panels in your commercial building, you can benefit from the Solar Investment Tax Credit (ITC). A solar PV system installed in 2021 can claim 22% credit. With 100% bonus depreciation, your business can get an immediate first-year deduction on installing solar.
- Solar Panels save You Money
Solar panel installation costs have fallen notably (more than 70%) over the last decade. And that means the price of installing solar panels has fallen as well. The federal Solar Investment Tax Credit (ITC), state tax credits, and cash rebates all contribute to reducing the cost of installing a solar system.
- Better Cash Flow
Once you have installed commercial solar panels, it saves you a lot on your energy bills every month. Thus, this maximizes your business money and restricts outlays.
The other benefits of installing a solar system in your commercial building are it improves your brand image, and supports the local economy. Also, it has high reliability and low maintenance.