November 26, 2019
There are a number of good reasons a business would choose to go solar. Often, businesses think that solar energy is expensive or other myths about solar power. Solar PV systems have become more affordable and can be manageable for both established businesses and startups alike.
Five simple reasons your business should go solar:
1. Reduced Energy Costs:
Electricity bills are inevitable for business owners and the costs keep rising! Businesses can pay thousands of dollars per month in electricity costs. Going solar can greatly reduce your energy costs helping you improve the budget of your company. Solar also safeguards your business from rate increases and fluctuating energy bills – giving you a fixed budgetary number for energy during the year.
2. Federal Investment Tax Credit:
A big financial benefit is the federal tax credits. Business owners who have a contract signed by the end of this year will lock-in the 30% tax credit. Learn how you can "Safe Harbor" the tax credit.
3. Accelerated Depreciation:
This will allow a deduction of up to 85% of the value of the system in the earlier years of the life of your asset.
4. Good ROI:
All of the above aforementioned financial benefits lead to a good return on investment (ROI) and allow to grow your business further.
5. Decreased Carbon Footprint:
Deciding to go solar will not only be a good investment for your business but also for the environment. As a solar producer, you would be doing your part to reduce harmful CO2 gasses created by non-renewable energy.
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