As your business grows, you are likely to be always in search of new and reliable ways to save money. Embracing the use of solar can be one of those solutions that will help you save some cash. After all, you will not only be saving money, but you will also be improving the climate; which is always a good thing to do.
Rather than spending millions of dollars using the traditional forms of energy, you can make use of free energy from the sun. A solar panel converts the sun’s energy into usable power.
The initial cost of installing such technology might seem a little high, but then if you consider the amount of money it will save your business in the long run, it becomes a worthwhile investment.
It will also show the world and your customers that you care about the climate. This way, giving your business an excellent reputation; hence making it the best choice for most customers. The following is a detailed description of why using solar power in your business is a good idea.
1. Reduction in Energy Cost
The numerous types of equipment used in an office setting mean the consumption of energy is high. This way, you will likely pay thousands of dollars of monthly electric bills. The most intriguing part is that the electric bills are regularly rising, making it one of the costliest endeavors for any business owner. You can solve this by going solar. Solar power will help you save money, which will, in turn, reduce your businesses energy bill. You can use the money saved to improve the various sectors of your organization.
2. Long Term Free Source of Electricity
You are likely to pay the cost incurred when installing solar technology in three to seven years. After that, you will enjoy the benefits of free electricity for the next thirty years or so. During this time, you will not worry about paying electric bills- allowing you to adjust your budget accordingly to make sure the money saved is well spent.
3. Federal Investment Tax Credit
A business owner using solar energy is currently entitled to a federal tax credit. This way, you receive a financial benefit for embracing solar technology. You are also able to take advantage of several available local incentives.
*NOTE: The 30% Federal Tax Credit steps down according to the following schedule:
4. Good for The Environment
Not only is embracing solar technology an excellent business investment, but it is also good for the environment. By giving up on using the traditional forms of energy and embracing solar power, you will have played a role in reducing the carbon footprint in the world. Solar energy is a pure source of power that is clean and brings no harm to the environment- no harmful gases or chemicals released to the air. This way, your company will play a part in trying to make the world a better place.
5. Reduction in Power Outages
Sudden power blackouts are a common thing when you are using traditional sources of energy. The fact that they happen unexpectedly, mean they are likely to get you into trouble with some of your clients. It could be the reason you lose a client. Nevertheless, this is not the case when it comes to using solar energy. It is almost impossible for you to experience a power outage when you are using solar panels. This way, the technology makes you more reliable, and your customers can trust you to deliver.
6. Easy to Maintain
When you get to think about it, there is no maintenance needed for the solar panels. Read more about solar panels here. All you need to do is make sure the panels are clean, keeping them in excellent shape to ensure they have a lengthier lifespan. The solar panels do not move in any way; this guarantees they are never damaged.
7. Accelerated Depreciation
You are allowed to deduct 85 percent of the money you spent on purchasing the solar panel in the first years of using it. This way, the upfront payment for the solar technology is significantly reduced.
8. Attracts Customers
Customers will be inclined to choose your business if they believe you are playing a part in the sustainability of the world. Why not embrace solar energy and save more while still attracting more customers towards your brand.
9. Increases Property Value
By installing a solar panel in your property, the value of the property increases. The property becomes self-reliant, and anyone buying it will inherit a reliable property.
10. Loyal Employees
Your employees are likely to respect you and your business if they see that you care for the environment. A happy employee will likely mean a successful business.
From the above information, it is clear that your business will benefit if you embrace solar technology. It sets your business apart from the rest, giving you an edge over your competition.
Thank you for explaining how you’ll be entitled to a federal tax credit if you are using solar energy for your business. My sister has been contemplating getting solar panels for her business. I’ll have to share this with her to see if it sways her more in favor for them.