Solar energy is a renewable source that brings about several benefits. It can be advantageous to residential and commercial establishments as it is one of the most prevalent types of renewable energy.
As the demand for electric power continues to rise along with the price hike in oil and the increasing concern for the environment, many businesses are looking for alternative energy sources. In recent years, solar energy has been one of the preferred sources of renewable energy while being sustainable at the same time.
Solar panel systems are becoming a mainstream alternative source of energy. Although most small or medium-sized businesses find the investment significant, it may be time to think twice. Today, the installation of solar panels is becoming readily available due to the affordable price range.
If you’re still having second thoughts on whether to invest in a solar panel system for your business, you might want to give it second thought due to the number of benefits it can provide.
Here are some benefits your business will gain from switching to solar power.
1. Reduce Operational Costs
When you have a solar panel system in place, it can significantly help reduce or even eliminate the power consumption from the grid, resulting in a drop in your monthly utility bill. Although switching to a solar panel system will require an investment, it can benefit your business in the long run.
Regardless of the type of business you’re managing, a continuous energy supply is vital. Aside from the lights, you need electricity for the heating and cooling systems, equipment, and machinery. Because all of these are essential in daily operations, reducing the overhead cost of power is something to think about.
You might want to consider a 100kw solar system if you’re running a medium-to-large business that requires a continuous power supply.
2. Low Maintenance
Another benefit of a solar panel system for your business is low maintenance. After installing the solar panels, they only require cleaning a few times a year. Without any moveable components, wear and tear isn’t an issue. After dealing with the initial cost of the installation, you don’t have to spend significantly on maintenance and ongoing repairs, allowing better savings in the long run.
3. Gain Independence From Local Energy Suppliers
Another main benefit for your business is gaining independence from the local energy suppliers. Once you invest in a solar panel system, it can help reduce or eliminate your dependence on the local power company. Aside from saving on the overhead costs, your business stays operational regardless of what happens to the local grid.
When you have a properly installed solar panel system, it’ll become a reliable energy source. Once you switch to solar energy, you can store electricity in a battery. Power will always be available in certain conditions when you need backup light.
With less reliance on the grid, it cuts down the vulnerability of your business to power shortages. In such circumstances, a drop in productivity is one of the main threats since it can disrupt daily operations and incur losses. You can continue daily operations with an on-site energy source even if the main power fails.
When your business is self-sufficient on solar power, it protects you from skyrocketing spikes and inflation. Remember that your business will go through seasonal shortage spikes if you solely rely on the commercial power grid. A solar panel system ensures protection from inevitable inflation as annual electricity costs increase.
4. Enjoy Tax Benefits
If you switch to solar power soon, you’ll be able to enjoy tax benefits. All state, local, and federal levels support the move toward efficient solar power. Some primary tax benefits you’ll gain once you switch to solar power include Solar Renewable Energy Credits (SRECs), Accelerated Depreciation, and a 26% Federal Investment Tax Credit (ITC).
The Solar Renewable Energy Credits (SRECs) allow you to recover the costs of your solar power installation from the energy generated. In the ITC, you gain a 26% rebate on the total cost of your solar panel system. Accelerated Depreciation, which is handled by the Modified Accelerated Cost-Recovery System (MACRS) federal program, enables you to disregard the total cost of the solar panel system in the first year to help your cash flow.
5. Become A Green Business
Once you switch to solar power, using a renewable energy source conveys that your business values sustainability. As a renewable energy source, your company reduces fossil fuel consumption, reducing pollution and greenhouse gas emissions. Your business will do its part in fighting climate change.
Doing so will attract environmentally conscious clients to your business. Once you become a green business, you’ll gain a competitive advantage in your industry.
Additionally, deciding to go green with a solar panel system may put your business toward gaining a Leadership in Energy and Environmental Design (LEED) certificate, a globally recognized symbol of sustainability.
Remember that going green reduces operational expenses and functions as a marketing tool. When you’re able to maintain an environmentally responsible image, your business will likely gain a positive response from consumers.
6. Better Utilization Of Space And Minimal Operational Disruption
The difference between solar energy and other alternative sources, such as mobile generators, is that it’ll not take up space in your establishment, helping save on space. Additionally, a solar panel system operates silently, so you don’t have to hassle with any disruptive elements, especially if your business is near a residential area.
7. Protection Against The Constantly Changing Economy
In recent years, there’s been an evident spike in demand for energy. As non-renewable sources around the globe are steadily declining, the price of energy skyrockets at staggering rates. Unforeseen events often result in abrupt, fleeting spikes in energy prices, placing significant strain on businesses all over the globe.
Investing in a solar panel system as a renewable energy source for your business may be worth considering. Once the system is in place, it can lessen or eliminate exposure to rising electricity rates. Even if the electricity rates rise and fall, it’ll not disrupt your daily operations.
Whether running a small or large business, a solar panel system as your power source can bring several benefits. Although the primary cost of the installation can be challenging for some businesses, it’s a worthwhile investment since it can provide your business with many benefits in the long run.