Businesses often face the challenge of balancing their need for sustainable energy solutions with their limited financial resources. This is where commercial solar can come in handy, providing a range of benefits that can help businesses transition to cleaner, more efficient energy sources. Here are some of the key benefits of commercial solar:
1. Lower Energy Costs: One of the biggest benefits of solar energy is its ability to reduce a business’s energy costs. Commercial solar financing allows businesses to install solar panels without having to pay the full cost upfront. The lower energy bills that result from solar power can then help small businesses free up cash flow for other important expenses.
2. Tax Incentives: Businesses that install solar panels can also take advantage of tax incentives and credits offered by the government. These incentives include the Investment Tax Credit (ITC) which allows businesses to deduct up to 30% of the cost of solar panel installation from their federal taxes, as well as MACRS, which allows business to depreciate the solar system by 85% in its first year of use. Some states and cities also have additional incentives.
3. Increased Property Value: Investing in solar energy also increases the value of a business’s property. According to a study by the National Renewable Energy Laboratory, properties with solar panels sold for 20% more than properties without them.
4. Environmental Benefits: Solar energy is a clean and renewable source of energy, and using it can help businesses reduce their carbon footprint and contribute to a healthier planet. By choosing to use solar energy, businesses can show their commitment to sustainability and attract eco-conscious customers.
5. Brand Image: Finally, solar panels can help businesses improve their brand image. By publicly demonstrating a commitment to sustainability and environmental responsibility, businesses can differentiate themselves from competitors and build a positive reputation in their community.
In conclusion, commercial solar offers a range of benefits for businesses looking to transition to cleaner, more efficient energy solutions. From lower energy costs to tax incentives and environmental benefits, solar panel installation can be a smart investment for businesses looking to improve their bottom line and their brand image. If you’d like to learn more, please get in touch with us by clicking HERE