Solar energy is one of the cleanest forms of energy available. The only limitation is in our capacity and technical knowledge to produce more panels or improve their current designs and functions. It also caters to a wide spectrum of users, which includes businesses. The recent decrease in solar equipment prices combined with government incentives makes investing in solar energy a wise financial decision. This can generate quick payback and long-term savings. 

Five ways investing in solar can benefit companies 

Becoming a green business 

The switch from using fossil fuels to using renewable energy means the company is doing its part in fighting climate change as well as reducing the country’s dependence on foreign energy sources. Investing in solar can also improve the company’s green credentials. These green credentials show that the business is committed to helping reverse the damage done to the environment.

Being a green energy company doesn’t only help the environment but also reduces operating costs, makes positive public relations, and is a marketing asset. Sustainability is rated as an important purchase criterion for 60 percent of consumers, globally. In the US, this number is just over the global average at 61 percent.

Customers that care about climate change are more likely to choose and promote companies that use renewable energy. 

Decrease in overhead expenses 

A consistent energy supply is necessary for every business and there is only so much companies can do to make devices electrically efficient. Going solar can reduce this problem because it will reduce the electricity bill by a significant margin. No matter what the reason for going solar is — limited dependence on the commercial power grid or replacing it with solar – the results will be a significant drop in overhead costs. 

Another advantage of investing in solar is that green companies are immune from inflation as the electric bill increases each year. With solar, unless you choose to add to your electrical load, your overhead electric costs will remain the same. 

Use net metering for additional income 

Net metering is a billing mechanism that allows commercial customers and homeowners to store excess energy produced by their solar panel system. The utility grid will give energy to the company on a cloudy or rainy day when the solar panels aren’t producing enough energy. This will count as the energy the company has stored over time. They will be billed for the ‘net’ energy usage, known as net energy metering (NEM). 

At the end of the billing period, if the grid is fed more energy than what the company has consumed, then the state board pays them based on the net metering calculations of that state. 

Great return on investment

The upfront cost of installing solar panels is high but they can actually help businesses generate more income in the long run. Here is how — once the solar panels are installed, businesses can recover the initial cost over time. The federal government plans to expand the adoption of renewable energy, hence they have introduced different financial incentives to make solar more affordable. One such incentive is – Rebate; it’s paid either as cashback when PV is installed or given as a discount on the total cost of installation. Additionally, buildings that are energy independent are worth much more in the market. 

Easy maintenance

Solar panels are not only efficient but are also a one-time investment. They are made from good quality material that lasts for years — 25 years to be precise if companies choose the right manufacturing and designers. These manufacturers also conduct strict checks on the panels before releasing them on the market. It’s also important to note that hiring experts for the installation process is necessary as they can assess the power needs, budget, and installation of the company. 

Conclusion 

Solar power is the solution to low overhead electrical production. By converting to solar energy companies are investing in a brighter future. The low electrical consumption costs can also protect the business’s future. 

Wondering if solar is right for your business? Solar power delivers multiple benefits and is a great business opportunity to save money, reduce overhead costs, and have stable power. But first, learn which designs would fit your business by getting in touch with us. 

Finulent is your one-stop solar design solution.