Top 10 Reasons Why Your Business Should Go Solar

Going solar hugely benefits businesses in many ways. Businesses across the world are taking advantage of solar energy as much as possible. We understand the hustle of making a decision about going solar, that’s why we have compiled the top 10 reasons why your business should go solar to help you make up your mind and decide if solar is right for your business.

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1. Reduced Business Expenses

As businesses and startups grow and evolve, they start looking for ways to reduce expenses and save money. Going solar might be one of the solutions that will help your business hugely save on electricity bills. Instead of paying thousands of dollars to your utility provider, you can just generate your own energy by going solar and improve your company's budget.

2. High and Fast Return on Investment

Due to Solar Panel Depreciation tax code, you can get a good amount of money back in the first year of installing your solar system. Businesses can choose to either reinvest the money received or use it towards the solar installation costs. Read more about how solar panel depreciation works in our recent blog post.

3. Reduced Carbon Footprint

Investing in solar is not only beneficial for reducing your energy bills, but it also helps your business reduce its carbon footprint. Solar power is a green and clean energy that directly off-sets utility purchases of electric power from coal and gas-fueled power plants. This lowers the atmospheric Carbon Dioxide, and Sulfur Dioxide (Green-house gases) and Nitrogen Dioxide – a potent smog-related gas. Installing one Soleeva solar panel is like planting two trees.

4. Environmental Leadership

Customers are increasingly weighing the business' contribution and commitment to sustainability in their decision criteria. Going solar is a good way to show the world that you and your business care. It will make your business stand out among your competitors and earn you a good reputation.

5. Tax Incentives

Another financial benefit of going solar are federal tax credits. Business owners who have installed solar systems in 2020-2022 will receive a federal tax credit for 30% of the cost of the system. This tax incentive will decrease to 22% for solar system installed in 2023 and expire in 2024 unless the Congress renews the policy. Hurry up and go solar now while this tax incentive is in effect.

6. Performance-Based Incentives (PBIs)

PBIs allows you to get payments from your utility provider for the solar energy that your system generates. PBIs is also another good way of getting a return on your investment in solar.

7. Raising Your Property Value

The American Association of Appraisers has conducted research that states that a building with a solar system has a higher market value than the same building without, as well as better resale values for owners.

8. Low-Maintenance

Solar panels do not require a lot of maintenance except for annual cleaning to keep the panels in a good shape and make sure they last long. However, with Soleeva's proprietary self-cooling and self-cleaning panels, you don't have to worry about cleaning or maintaining your panels at all. You can learn more about our smart solar technology here.

9. Flexible Financing Options

There are several flexible financial options available for businesses to choose from when going solar. For example, at Soleeva we offer 100% solar financing with $0 down. Learn more about Soleeva's financing options here.

10. No Power Outages

Unexpected power outages are common characteristics of traditional energy sources and in most cases can result in financial damage for your business. However, this will almost never happen with solar power. Solar systems will highly improve your grid security.

You might have seen giant Fortune 500 firms opting for solar, but you thought it wasn't viable for your business. Or you might be planning to install a commercial solar system when your business is financially stable and can afford this significant investment. You may want to make it a move that impacts the environment rather than just a strategic decision for your company.

The good news is that you can immediately reap the benefits of solar power systems for your company. Now is the high time to join the bandwagon of smart businesses switching to the commercial solar system.

Put simply, the commercial solar system is not just for giant brands like WalMart, Microsoft, Intel, and Apple. Businesses of any size can capitalize on the financial opportunities of installing solar panels. It shows that a commercial solar system is one of those strategic decisions that can assure an excellent financial profit for your business.

Let's tap into why your company should switch to solar.

Reasons to Choose Commercial Solar System

1. Smart Investment

Many business owners and companies considering investing in solar power systems feel overwhelmed and confused about its market.

Due to its high upfront costs, solar technology, like the solar system, is not the first choice of small business owners. However, the scenario has started to change with continually decreasing prices and increasing efficiency of commercial solar panels.

For instance, the cost of solar panel installation was around $8.50 per watt in 2009. But as solar installers, manufacturers, and panel makers have improved, solar panels are now more affordable and efficient. Eight dollars fifty cents per watt decreased to two dollars eighteen cents.

Business owners may benefit from the tax credit they receive for installing solar panels and the lower cost of solar panels. Businesses and companies received 30 percent of the overall cost of solar panel installations. In many states, new solar panel owners also receive tax credit incentives.

You have to pay some money upfront, but you'll save more in the long run!

2. Energy Independence

Energy independence is another potential benefit commercial solar power systems provide to businesses. A business can remove its dependency on the local power firm by installing a self-contained solar power system. It saves you significant business money used for overhead expenses and assures a reliable electricity supply. Once your business becomes solar, it no longer depends on the commercial grid.

It is especially beneficial for businesses that cannot survive with constant commercial power failures. For instance, if you’re in a power-sensitive company such as cold storage that can't work with the lapse in the electrical supply, you need a reliable power supply source.

Unfortunately, California's power outage is affecting the business industry. But when you switch to a solar system, you'll always have a reliable electricity supply regardless of what happens to the commercial grid. Solar panel system installed and configured correctly is 100 percent reliable.

Simply said, you have a network of interconnected solar panels that use the photovoltaic process to turn the sun's rays into live alternating current. You independently generate the same electrical power that you receive from the commercial power provider.

You can use a battery system to store electricity when using solar power. Power is always available when your business needs a backup, like at night or in fading light.

3. Reduced Energy Bills

Electricity is often generated using coal or another fossil fuel. These sources' need for renewability is a problem. When you use more energy, the supply of energy and the cost of electricity may occasionally fluctuate. Solar energy, on the other hand, utilizes a free resource. All you need to do is allow technology to soak up some sun, which will take care of everything.

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Typically, commercial solar panels convert sunlight into electricity, allowing businesses to generate their own power and reduce their dependence on the traditional power grid. By installing a solar panel system, a business can produce its own electricity and save money on energy costs. This energy independence provides a more secure and sustainable energy source, protecting against p price fluctuations of traditional energy sources.

Using commercial solar panels can reduce energy costs by 75 percent for the average commercial company in the US. It also depicts that the average businesses spend over $20,000 on electrical expense a month.

When business owners switched to solar energy, the cost of adding solar technologies that might last up to two decades was only $500. Your company's electricity rates may have decreased thanks to solar power. This money may be used for operational expenses, enabling your business to expand.

4. Durability

Commercially used electricity has become a commodity. You buy and sell this commodity depending on your business needs of supply and demand. When you draw power from the grid, you are subject to the user tariffs and current market conditions. There is no protection for future expenses. That is due to the unpredictability of the future.

According to the majority of futurists, fossil fuel dependence will decrease in the coming decades. The emissions and carbon footprint of gas-fired and coal-generated electrical producing facilities will be more strictly regulated. This means fossil fuel generation will be more expensive, and the consumer will pay more.

This is when you need a power supply that can guarantee your future needs while cutting costs. Fortunately, when your business converts to solar power, it typically invests in the company's future.

By establishing a self-contained solar production system, you may protect your electricity bet just as investors do on the stock market when they speculate on future market movements. You gain from solar power by reducing your electrical consumption costs and safeguarding the future of your business.

5. Solar Tax Incentives

Solar tax incentives are the most considerable advantage any business gets by transitioning to solar power. Whether it is local, federal, or state, all levels support the decision of a business to switch to clean, efficient, and renewable energy.

The main financial benefit of switching your company to solar energy is the Federal Investment Tax Credit. You can receive a 26% discount on the overall expense of your solar system provided by the US federal government tax relief.

For instance, you are eligible for a $5,200 tax credit if you invest $20,000 in solar panel installation. Plus, the program has no cap, so you can spend as much money as you like on solar power and still qualify for the 26% rebate. After 2022, the benefit amount does decline. The ITC drops to 22% and then to 10% after 2023.

The beneficial financial assistance program and tax incentive show that state governments and stakeholders support businesses transitioning to solar power.

6. Low Maintenance

Solar technology requires very minimal upkeep after installation. Nowadays, thanks to their ever-rising efficiency, you may depend on these technologies for a very long period without worrying about maintenance, repair, and replacement costs. Solar panels often come with a 25-year warranty though they are build-in to last up to 30 years.

7. Improved Green Credentials

Customers look for green businesses to buy products and services. You will gain an edge over your competitors by contributing to the world and showing commitment to a sustainable environment. You can represent this approach in your marketing and promotional efforts, and stakeholders that care about the environment will welcome it.

8. Reduced Carbon Footprint

Any company wanting to cut CO2 emissions should consider solar energy because it doesn't emit greenhouse gases. Even better, compared to conventional fossil fuel power alternatives, sustaining a solar power system needs very few resources, resulting in significant carbon footprint reductions.

Coldwell Solar Offers Commercial Solar Solutions

If you are already considering using solar technologies in your company, you can get in touch with companies that sell solar panels, like Coldwell Solar. They are a family-run business in California that provides qualified solar installation services.

Coldwell Solar is committed to helping your company grow using clean, renewable energy. Realizing your company's vision is your ultimate objective; the solar provider ensures the maximum assistance you need in installing and maintaining your solar energy system.

Coldwell Solar in California can assist you in determining whether going solar is a good option for your business. If it is, it partners and collaborates with you to ensure the investment will be profitable. It may eventually enable you to become energy independent.

Coldwell Solar has the experience to handle projects of any magnitude in the State. You can get more information about your options by contacting the company to decide why your business should invest in solar installation.

The company is the world’s best All In One Solar Power System supplier. We are your one-stop shop for all needs. Our staff are highly-specialized and will help you find the product you need.