Going solar hugely benefits businesses in many ways. Businesses across the world are taking advantage of solar energy as much as possible. We understand the hustle of making a decision about going solar, that’s why we have compiled the top 10 reasons why your business should go solar to help you make up your mind and decide if solar is right for your business.
1. Reduced Business Expenses
As businesses and startups grow and evolve, they start looking for ways to reduce expenses and save money. Going solar might be one of the solutions that will help your business hugely save on electricity bills. Instead of paying thousands of dollars to your utility provider, you can just generate your own energy by going solar and improve your company’s budget.
2. High and Fast Return on Investment
Due to Solar Panel Depreciation tax code, you can get a good amount of money back in the first year of installing your solar system. Businesses can choose to either reinvest the money received or use it towards the solar installation costs. Read more about how solar panel depreciation works in our recent blog post.
3. Reduced Carbon Footprint
Investing in solar is not only beneficial for reducing your energy bills, but it also helps your business reduce its carbon footprint. Solar power is a green and clean energy that directly off-sets utility purchases of electric power from coal and gas-fueled power plants. This lowers the atmospheric Carbon Dioxide, and Sulfur Dioxide (Green-house gases) and Nitrogen Dioxide – a potent smog-related gas. Installing one Soleeva solar panel is like planting two trees.
4. Environmental Leadership
Customers are increasingly weighing the business’ contribution and commitment to sustainability in their decision criteria. Going solar is a good way to show the world that you and your business care. It will make your business stand out among your competitors and earn you a good reputation.
5. Tax Incentives
Another financial benefit of going solar are federal tax credits. Business owners who have installed solar systems in 2020-2022 will receive a federal tax credit for 30% of the cost of the system. This tax incentive will decrease to 22% for solar system installed in 2023 and expire in 2024 unless the Congress renews the policy. Hurry up and go solar now while this tax incentive is in effect.
6. Performance-Based Incentives (PBIs)
PBIs allows you to get payments from your utility provider for the solar energy that your system generates. PBIs is also another good way of getting a return on your investment in solar.
7. Raising Your Property Value
The American Association of Appraisers has conducted research that states that a building with a solar system has a higher market value than the same building without, as well as better resale values for owners.
Solar panels do not require a lot of maintenance except for annual cleaning to keep the panels in a good shape and make sure they last long. However, with Soleeva’s proprietary self-cooling and self-cleaning panels, you don’t have to worry about cleaning or maintaining your panels at all. You can learn more about our smart solar technology here.
9. Flexible Financing Options
There are several flexible financial options available for businesses to choose from when going solar. For example, at Soleeva we offer 100% solar financing with $0 down. Learn more about Soleeva’s financing options here.
10. No Power Outages
Unexpected power outages are common characteristics of traditional energy sources and in most cases can result in financial damage for your business. However, this will almost never happen with solar power. Solar systems will highly improve your grid security.