How Businesses Can Benefit From Solar Panel Installation

Last Updated:
March 7, 2024
Author:
Kaylinn Ginger

How Businesses Can Benefit From Solar Panel Installation

Many people are familiar with the advantages that solar panels bring to a house, but what about a business? Below, we explain how businesses can benefit from solar panel installation, from reducing their energy costs to enhancing their brand’s sustainability profile.

Reduce Energy Costs

The first and primary advantage that solar panels afford to a commercial business is that they help cut down on energy and overhead costs. Every business wants to be as efficient as possible, including with their electrical use, and a solar system can cut down energy costs by as much as 75 percent every month. With those kinds of savings, businesses can pay off the costs of solar panel installation quickly and invest those energy savings into other resources.

Become More Independent

Another way that businesses can benefit from solar panel installation is by becoming more energy-independent. Solar panels provide businesses with a self-contained supply of energy that makes them less reliant on the local power company and the national grid. This is why batteries play a significant role in photovoltaic systems, as they store excess energy for emergencies like outages. If you have a power-sensitive business, you can’t risk the chance of a blackout devastating your energy supply.

Sustainable Branding

There are also some indirect advantages of having a solar panel system as a business, like helping your business go green. Many businesses have embraced sustainable branding as a way to show potential customers that they care about more than just profits and are willing to put their money where their mouth is. Many eco-conscious customers will choose the more sustainable business when deciding between one that emphasizes green energy and one that’s ambivalent to sustainability.

Tax Benefits

Often, the primary barrier to a commercial business installing solar panels is the installation costs. While they can be a significant investment, there are many government incentives and tax breaks available to make the switch less costly and burdensome. The Federal Investment Tax Credit offers businesses a 26 percent rebate for solar systems. The Solar Renewable Energy Credits (SRECs) allow businesses to recoup their equipment installation costs by selling their excess energy back to the electric company.

There are many other ways a solar PV system can help a company, but these are often the best-cited reasons companies make the switch to solar power. For many commercial businesses, solar panels are a win-win—they save on electrical costs, allow the company to become more independent, and make their brand more attractive to eco-conscious customers. There’s never been a better time to invest in solar panels for your business than today.

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