If you’ve ever considered incorporating solar energy into your business, here are three straightforward reasons why you should make a move now.
1. Locked-in pricing
One of the most important things for a business is accurately projecting its operating expenses. One of their highest overhead costs for many companies is electricity, which is unfortunately at the mercy of the unreliable and highly volatile energy market. Although the amount of energy your company needs may vary with solar panels, your business can lock in your energy prices, helping you more accurately predict your annual operating expenses from energy.
2. Good for the environment, good for business
Consumers have growing expectations for businesses to practice socially and environmentally responsible behaviors. Companies that choose to use solar energy as their source of power benefit from the financial savings and are often viewed more favorably by employees, customers, and vendors.
3. Tax savings
You may also qualify for significant tax savings by installing solar on your business.
The federal income tax credit offers a tax break on the cost of installation for qualifying systems. For businesses, that number is 26 percent through the end of 2022 but you may qualify for additional tax incentives and savings that could save you up to 50 percent on the installation of qualifying solar photovoltaic systems.