As a business owner, you’ve probably had clients and other business owners suggest that you switch to solar energy. Although you agree with the environmental benefits of solar power, you’re probably worried about potential risks in regard to switching to solar power in this complex and confusing market. You’ve heard of major Fortune 500 companies going solar, but you fear that switching over isn’t feasible for your company. Maybe you’ve thought about switching to solar at some point in the distant future, and you tell yourself that this move is best left for the future when your organization can afford this investment. The good news is that solar panels make sense for businesses of all sizes.
Commercial Solar Panels
Shake off that old way of thinking and take the plunge. Join the growing chorus of smart business owners that can vouch that commercial solar panels are a great fit for small to medium sized businesses. Solar isn’t just for big corporations anymore. Businesses of all sizes are cashing in on the financial opportunities of installing solar, proving that a solar energy system is a key strategic decision that guarantees a solid financial return for your business.
Commercial Solar Financing
Since this is a financial decision, let’s take a look at the numbers. According to marketplace data from EnergySage, the average commercial property owner pays a whopping $538 in monthly electricity bills. After a solar panel installation, electricity bills are reduced to approximately $91—an 83% price reduction! The price of buying and installing solar panels has significantly dropped in the past five years, making the economics of solar energy even more attractive to both house owners and business owners.
Your system is measured in watts, and this is dependent on how much electricity you need for your business. The cost of a solar panel system is typically measured in dollars per watt. Decreased equipment and installation costs shouldn’t be the only reason your business goes solar. There are multiple factors that will reduce your business’s out-of-pocket costs for a solar panel system, which include:
Federal Investment Tax Credit (ITC): This is the most significant financial benefit for owners who are interested in using solar panels for their businesses. Owners who recently installed solar panel systems are eligible for a federal tax credit for 30% of the total cost of the system.
Performance-Based Incentives (PBIs): PBIs, which include solar renewable energy certificates, are a way for solar owners in certain markets to receive payment from their utility for the solar electricity that their system generates. These incentives are significant and enhance financial returns for panel owners over the lifespan of their system.
As you can see, the numbers add up—solar panel systems are a smart, sustainable investment for businesses of all sizes. Moreover, environmental consciousness is attractive to potential business partners, employees, and clients.
Are you ready to make the smart switch to solar panels? Contact Rocky Mountain Renewable Energy today to begin your sustainability journey and save money.