Published on June 12th, 2018 | by Sunit Nandi0
Why Should Business Owners Consider Investing In Commercial Solar Power?
Commercial establishments have the highest energy consumption. They spend hundreds to thousands of dollars every single month just for the energy consumption alone, especially for huge businesses. To somehow lower the energy cost, many business owners are using commercial solar power. It is quite of an investment but you will surely get your money’s worth. How can business owners benefit from using a solar power?
1. Government incentives
The government is giving financial incentive to business owners who are going to buy solar power system. It gives 30% tax credit on the total cost of the solar power system. Not to mention, it has a rebate system that will significantly reduce the cost of solar power system installation. Some states have a net metering policy, which requires you to only pay the net amount of energy you use.
2. Accelerated depreciation
Under the Federal Modified Accelerated Cost-Recovery System, a business owner can have accelerated five year depreciation on the total cost of the solar power. This will eventually lead to a lower tax liability.
3. Lease option
Buying a solar power unit is extremely expensive and it is one of the reasons why business owners are apprehensive when it comes to buying one. The good news is that businesses who don’t have enough money to pay for upfront cost of solar power system; some states actually allow business owners to lease the unit for 15 to 20 years.
4. Operating cost reduction
Having a solar power system will enable you to reduce the operating cost of your business. It can reduce your operating cost up to 10 times. As time passes by, you will be able to enjoy the financial advantage offered by solar power system.
5. You will have hedge against increasing utility bills
The utility bill increases by up to 5% every year. If you invest in solar power system, you can insulate yourself from the continuously increasing utility bills.
6. High reliability and low maintenance
A high-quality solar power system requires no maintenance at all. Yes, you read it right. You don’t need to spare money for the maintenance cost. A solar panel itself is fragile but it is encased in a highly durable protective glass case framed by aluminum. It is a non-corrosive aluminum considering the fact that the solar panel is exposed to outside weather elements like rain, heat, wind, and hail.
A solar power system is a perfect addition to your business and even for residential use. The energy consumption is one of the biggest expenses in every household and/or business. Having a solar power system means a significant reduction in your energy consumption cost. The upfront cost of a solar power unit is quite high and so the government is offering all the help it can give to somehow lighten the financial burden of buying solar power. As time passes by, you will be able to enjoy the benefits of solar power. A high-quality solar power system can last for over two decades.