When brainstorming ways to improve your business operations, you may be attracted to the idea of using solar power. The environmental benefits of relying more on solar power are already well known, but can your business also become a beneficiary? Is investing in solar power for commercial buildings worth your time and money? Pouring resources into solar power is indeed a worthy endeavor for any business. Read on to find out how this decision can affect your company’s finances.
Relying More Solar Power Can Allow Your Business Claim Tax Credits
According to the U.S. Energy Information Administration, solar energy only accounts for 1.8% of total electricity generation nationwide. The federal government is well aware of that statistic and the potential benefits that come from the increased adoption of solar power. That’s why the government is offering tax credits to residents willing to rely more on the sun for their energy needs.
Note that these tax credits are available to private citizens and businesses. According to the Department of Energy, solar power for commercial buildings can yield tax savings in two different ways. One tax credit reduces tax obligations for business owners who install new solar energy systems. A business owner can also claim a tax credit based on the electricity their system produces within the first 10 years of its operation.
Those tax savings can pile up. They are especially helpful to small business owners looking to save money however they can. Take full advantage of those incentives while setting up your commercial establishment.
Using Solar Power Reduces Your Monthly Operating Costs
Monthly expenses such as water and electric bills can eat into your profits quickly. During certain stretches of the year, you may struggle to turn a profit due to your spiking electric bills. Solar power can effectively reduce your reliance on electricity suppliers.
Set up solar power for your establishment today and start producing electricity. Enjoy the savings on your monthly bills and redirect those funds to other needs. Continue using your solar power system, and you’ll recoup your initial investment sooner rather than later.
Powering Your Establishment With Solar Energy Prevents Unexpected Interruptions
Lastly, you should be interested in solar power for commercial buildings because it can allow you to operate independently. You don’t have to halt operations due to an unexpected power outage. Solar power allows you to maintain operations even when your competitors are forced to shut down.
Investing in solar power may be one of the smartest decisions you make as a business owner. This move can save you money today and generate larger savings long-term. Contact Suntegrity Solar today if you’re looking to add a solar panel system to your establishment!