The Benefits for Businesses
Use solar energy to your advantage.
In today’s business climate, owners are facing more and more challenges. In addition to managing the business itself, owners must actively address the changing environmental policies and increasing demand for corporate responsibility. While the switch to solar energy has a number of financial and environmental benefits, it also provides a great solution to strengthen your brand across markets. Small businesses and large organizations alike benefit from the use of clean energy.
Solar for Other Organizations
Solar is not just for commercial businesses; many organizations benefit from the use of solar power.
As a vital part of every city and municipality, local governments commonly deal with aging facilities and limited resources, while maintaining the obligations to serve local citizens. Solar energy is a financially and socially responsible solution to meet the constant demand for energy to power government operations.
Huge amounts of energy are required to sustain water management procedures. Investing in a commercial solar power system lowers operational costs and reduces the demand for traditional energy and its resources, which threaten to contaminate water sources.
Switching to a free energy source such as solar power can open up tight budgets and make room for investment opportunities like staff training, institutional resources, and maintaining student facilities. Demonstrate your commitment to environmental stewardship to aid in the recruitment and retention of students and faculty.
Solar energy reduces dependency on dwindling energy sources and allows for significant operational savings. Focus on obtaining essential resources and fulfilling your core mission. Reducing your carbon footprint and limiting contribution to climate change supports the global community and can expand the reach of your cause.
Alternative energy sources like solar offer an independent power source. Powering your organization with a private system is an excellent way to lower expenses and create more consistency for your budget. Direct your funds to the programs that your community needs instead of fluctuating energy bills.
Keep up with the changing demands of the automotive industry by powering your business with clean energy. Using solar power allows you to claim the corporate responsibility that your consumers are searching for. Meet the needs of an increasingly electric-powered inventory by investing in your own energy system.
An investment in more than energy.
Reduce Your Energy Costs
Businesses and nonprofits are under pressure to rein in growing energy costs. Taking initiative to improve efficiency and reduce energy usage are important first steps. However, you can only reduce so much. Solar power can be used to replace utility-provided electricity at a lower cost per kWh. Solar systems have a fixed initial cost, require minimal maintenance, and use a free energy source (the Sun). The consistent cost of solar provides an alternative to the instability of utility companies and market inflation. Solar systems generate energy for as long as sunlight is available. With the addition of storage equipment, such as solar batteries, a system can even continue to supply power through the night, or save excess energy as a back-up source. This dependable solution allows owners to effectively reduce and manage operational budgets.
Return on Investment
Since solar energy is a free, unlimited resource, the costs associated with a solar panel system come primarily from the system materials and installation. Whether the project is on a smaller scale or on a large utility scale, solar systems reduce energy costs immediately. Over time, the electricity that the system generates will offset the total investment costs. The amount of time necessary for a system to recover these costs varies depending on site specifics, regional solar incentives, and the cost of the utility provided electricity. For commercial solar systems, the Capital Recovery Period is typically in the 6 to 8.5 year range. Although the list price may seem high, these costs can be significantly reduced through renewable energy incentives, which can cut years off of the ROI time.
In support of clean energy expansion, there are a number of financial programs available to help take on solar installation costs. System owners can reduce initial costs through options such as rebates, tax credits, and state/local incentive programs for renewable energy sourcing. The Federal Investment Tax Credit (ITC) is a nationally available incentive that offers system owners significant savings on new projects with a 26% credit in 2020; however, this amount decreases to 22% in 2021, and to 10% after that. There are a range of options available to finance the system cost including traditional loans and lines of credit, capital and operating leases, PACE financing, and 3rd party Power Purchase Agreements.
Visit our Solar Financing page to learn more about these options.