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Solar energy is a renewable and clean energy source that serves as a viable alternative to fossil fuel energy. As a business owner, one of the major expenses you’ll face is the power supply cost. If you’re dependent on the power grid, it can put you at risk of increasing or fluctuating energy costs.
However, solar panels provide an affordable and dependable energy source that can be beneficial to many business owners. Learn how your business can benefit from going solar.
Solar energy is a renewable and clean energy source that serves as a viable alternative to fossil fuel energy. As a business owner, one of the major expenses you’ll face is the power supply cost. If you’re dependent on the power grid, it can put you at risk of increasing or fluctuating energy costs.
However, solar panels provide an affordable and dependable energy source that can be beneficial to many business owners. Learn how your business can benefit from going solar.
One of the major benefits of going solar is that it can help you manage your business’ operating costs. Energy supply is a crucial need for businesses and one of the major operating expenses. While staying on the power grid, it’s possible for your operating costs to increase suddenly as a result of price hikes from electricity companies.
Going solar can help to ensure your energy costs stay consistent. This is because solar energy systems are affordable and accessible, with reasonable maintenance costs. Adopting solar energy can help to reduce the dependence on the commercial power grid, which can greatly reduce your operating costs as a business owner.
For example, the monthly electricity bill for the average commercial business owner was reduced from $1,950 per month to $500, a 75% cost reduction. This can help you free up funds for other aspects of your business.
One of the major benefits of going solar is that it can help you manage your business’ operating costs. Energy supply is a crucial need for businesses and one of the major operating expenses. While staying on the power grid, it’s possible for your operating costs to increase suddenly as a result of price hikes from electricity companies.
Going solar can help to ensure your energy costs stay consistent. This is because solar energy systems are affordable and accessible, with reasonable maintenance costs. Adopting solar energy can help to reduce the dependence on the commercial power grid, which can greatly reduce your operating costs as a business owner.
For example, the monthly electricity bill for the average commercial business owner was reduced from $1,950 per month to $500, a 75% cost reduction. This can help you free up funds for other aspects of your business.
Another benefit of going solar is the tax incentive. The government offers different tax breaks for home and business owners willing to switch to renewable energy. These tax benefits include the Federal Investment Tax Credit (ITC), the Production Tax Credit (PTC), Solar Renewable Energy Credits, and net metering.
The ITC is an upfront tax credit that offers a 30% rebate of the total cost when going solar. This also includes the installation and labor costs.
The PTC on the other hand offers a per kilowatt-hour tax credit for the electricity generated by a solar installation for the first ten years of operation. This tax credit is earned over this period and is not a one-time payment like the ITC.
If you live in a sunny place for instance, then the PTC is advisable as it can provide a reasonable cash flow continuously as you generate power through your solar installation. Also, there are other state and local tax benefits for home and business owners switching to solar energy.
Another benefit of going solar is the tax incentive. The government offers different tax breaks for home and business owners willing to switch to renewable energy. These tax benefits include the Federal Investment Tax Credit (ITC), the Production Tax Credit (PTC), Solar Renewable Energy Credits, and net metering.
The ITC is an upfront tax credit that offers a 30% rebate of the total cost when going solar. This also includes the installation and labor costs.
The PTC on the other hand offers a per kilowatt-hour tax credit for the electricity generated by a solar installation for the first ten years of operation. This tax credit is earned over this period and is not a one-time payment like the ITC.
If you live in a sunny place for instance, then the PTC is advisable as it can provide a reasonable cash flow continuously as you generate power through your solar installation. Also, there are other state and local tax benefits for home and business owners switching to solar energy.
Solar energy systems offer a sustainable power supply. This reduces the reliance on the power grid and offers business owners a reliable source of power for their daily operations.
Unlike fossil fuel-based energy, solar energy is clean and runs without any harm to the environment. Adopting solar energy is vital to having fewer emissions, better air quality, and a reduced carbon footprint. You can play your part in reducing the rate of climate change as a business owner by opting for solar energy.
Solar energy systems offer a sustainable power supply. This reduces the reliance on the power grid and offers business owners a reliable source of power for their daily operations.
Unlike fossil fuel-based energy, solar energy is clean and runs without any harm to the environment. Adopting solar energy is vital to having fewer emissions, better air quality, and a reduced carbon footprint. You can play your part in reducing the rate of climate change as a business owner by opting for solar energy.
Businesses can also benefit from accelerated depreciation by adopting solar energy. The Modified Accelerated Cost Recovery System offers cost recovery on qualifying solar energy equipment for five years.
This reduces tax liability and encourages businesses to invest in solar energy installation. Businesses can recover the costs of their investment in solar energy through this program, especially when paired with the ITC.
Businesses can also benefit from accelerated depreciation by adopting solar energy. The Modified Accelerated Cost Recovery System offers cost recovery on qualifying solar energy equipment for five years.
This reduces tax liability and encourages businesses to invest in solar energy installation. Businesses can recover the costs of their investment in solar energy through this program, especially when paired with the ITC.
As the world shifts towards renewable energy, consumers now prefer businesses with green practices. It’s now one of the factors consumers consider when patronizing businesses.
Switching to solar energy is a way to establish your business as a local leader in the push toward cleaner energy. This also enhances the reputation of your business. Businesses that have switched to solar energy can receive Renewable Energy Certificates. This further enhances the perception of their brands.
As the world shifts towards renewable energy, consumers now prefer businesses with green practices. It’s now one of the factors consumers consider when patronizing businesses.
Switching to solar energy is a way to establish your business as a local leader in the push toward cleaner energy. This also enhances the reputation of your business. Businesses that have switched to solar energy can receive Renewable Energy Certificates. This further enhances the perception of their brands.
Solar energy offers a long term investment that can be vital to the success of your business. Within a couple of years, you can recover the costs of your solar investment. Solar energy guarantees a financial return for years as it reduces or stops your electricity bills.
Switching to solar energy can reduce your operating costs consistently and helps to secure your business’ future. This is because more companies are switching to renewable energy, with increasing costs and regulations on fossil fuel generation and carbon emissions.
Solar energy offers a long term investment that can be vital to the success of your business. Within a couple of years, you can recover the costs of your solar investment. Solar energy guarantees a financial return for years as it reduces or stops your electricity bills.
Switching to solar energy can reduce your operating costs consistently and helps to secure your business’ future. This is because more companies are switching to renewable energy, with increasing costs and regulations on fossil fuel generation and carbon emissions.
Ready to make the switch to solar energy? Contact Lumina Solar for a free consultation today. We work with businesses of all sizes to achieve their solar needs.
Ready to make the switch to solar energy? Contact Lumina Solar for a free consultation today. We work with businesses of all sizes to achieve their solar needs.
