Updated: Dec 7, 2020
As a small business owner in 2018, you understand that environmentally conscious products and services are no longer a nice-to- have for consumers, but rather a must-have. And while there are many ways your small business can go green and work to be more eco-friendly, there are few that will also give you a return on investment and contribute to your organization’s overall profitability.
Think solar. While solar energy may not be the first thing that comes to mind when brainstorming ways to reduce your business’ eco-footprint, you’ll want to consider it in the running – and here’s why.
1) That ‘Green Business’ Label Puts Money Back in Your Pocket
That’s right – tax rebates. Thanks to the ITC (otherwise known as the solar tax credit), businesses who install new solar technologies in their buildings can claim up to 30 percent of the initial investment back on their federal income tax. So while your business gains a reputation as a local, environmentally friendly and socially conscious organization (cha-ching!), you’re actually getting a tax break.
2) Skip Next Month’s Price Fluctuation – Check!
With a small business, it’s important to forecast your monthly costs, and even more critical that your overhead stays under control. With solar energy for business, you don’t fully come off the grid. However, your energy will become independent enough to prevent you from being susceptible to unexpected price fluctuations that often occur with traditional power sources.
3) Did You Say… More Money?
Yes, we did! All thanks to the Renewable Energy for America Program (REAP), your rural business may be eligible to receive additional grants or loan financing for renewable energy systems such as a solar power system. Eligible businesses can receive up to 25 percent of the total solar project costs, so you can power your business at a discount. To see if you’re eligible for this program, click here.
Whether you own a small manufacturing plant, a local dairy farm or run a small-scale construction company, odds are that your business needs energy 24 hours a day, 365 days a year. While a solar energy system takes businesses an average of three to seven years to fully pay off, an efficient system can run with little maintenance for anywhere from 25 to 35 years.
So, let us help you to do the math. Could your business do without an energy bill for the next three decades? Before you can calculate just how long you’ll need to make your return on investment, contact us for a quote to determine whether solar panels are right for your small business.