Looking at our friends across the ocean in the United Kingdom, did you know that around half of the electricity generated there comes from low carbon sources such as solar power. In fact, 10% of small businesses in the U.K. are now producing their own electricity and not relying on the national grid.
You probably know how solar power is an advantage for homeowners but what about in the commercial field. Let’s take a closer look at the advantages you could gain as a business owner.
As a business owner, it is imperative to find ways for your company to save money and cut back on costs while at the same time running as efficiently as possible. So if your business is a high energy user, installing solar power could save you tons of money.
Of course, the same could be said for a small business owner. Take yourself off the grid and you will never have to pay another electricity bill again. Solar power offers 12% to 16% return on investment for a repayment outlay of between six and eight years.
Solar power offers excellent stability financially
The cost of electricity is on the rise. As fossil fuels become harder to come by, this rise will continue in the foreseeable future. Solar on the other hand only costs for the initial outlay to install the system, something that will last for the next 30 years. It makes financial sense to take your business to the next level when it comes to power generation.
Now if you generate electricity that you do not use with a commercial solar panel structure, you could feed it back into the grid and receive payments for any electricity you do this with. This is another way to help supplement your income, especially for a small business.
Provide other business opportunities
As a business owner, there is a good chance you already think outside the box. Why not carry that into solar power. With the demand for electricity on the rise, an installed solar power system can provide business opportunities. As we have seen already, any extra power can be charged for and pushed back into the national grid but what about providing charging points for hybrid vehicles. These are becoming more and more popular but they need somewhere to recharge. That’s just a small example of how you could make solar power work for your business.
Makes your company ‘green’
Many people are becoming far more conscious of companies that go out of their way to show off their ‘green’ credentials. In fact, some consumers will only deal with companies that do so. Solar power is a great way to show your business is committed to helping to save the planet by greatly reducing carbon footprints and CO2 emissions.
A nice tax break
Depending on the state you operate in, installing a renewable energy system may lead to a solar power tax rebate. The capital needed for the initial installation may also be written off in some cases. Take the time to speak to your financial expert to see exactly what benefits are in store if your business takes the solar route.
Increase the value of your business premises
If you own the property that your business operates out of, adding commercial solar panels will not only save money on power generation costs, it will ensure that the valuation of your premises increases. With solar panels having a lifespan of 30 years, they are certainly a good investment in this regards. One day down the line, you may need to find bigger premises to expand your business and having solar panels in your current premises will make it far more attractive to buyers as they know they can generate their own electricity without the capital outlay.
Reliable and almost maintenance free
A solar power system is reliable! With solar panels themselves often guaranteed for up to 30 years, it needs little maintenance to run as well. The only thing you will need to do is to keep the panels free from dust and grime by cleaning them every two months.
So as you can see, from a business perspective, installing solar power to run your company makes perfect sense. It will save you large amounts of money in the long term and certainly can lead to tax rebates. The fact that it needs little maintenance is an added bonus.