Thinking about joining the commercial solar energy revolution? Whether you’re interested in lowering energy bills, sustaining your bottom line, upping the value of your building or earning additional income, a commercial solar panel system can help you reach those goals.
Why Use Solar Power for Your Business?
It’s understandable to ask, “Why to use solar power for my business?” At MexLucky Energy, your local commercial power company in Pennsylvania, we’re here to answer that question with expert and honest advice.
With commercial solar energy, your company receives alternative energy that:
- Reduces energy bills for your business. You can’t run your business without power. Solar energy lowers your energy bills. How much you save depends on your system’s size and energy use, but the average commercial property sees a 75 percent reduction in their bill.
- Improves cash flow and profit. Thanks to Solar Renewable Energy Credits (SRECs), you can profit from your commercial solar installation. Get paid by utility companies, who are required to purchase SRECs, and add to your cash flow and profits.
- Offers tax deductions. Save on your taxes with equipment depreciation. Due to 2018 tax changes, the cost of your solar energy system is now fully depreciated within the first year from your taxable income, which can save you thousands. In addition, you are also provided a federal investment tax credit (ITC). The ITC is equivalent to 30% of the total cost of your system, including all labor and material. A tax credit is a dollar to dollar reduction on your income taxes. Take a $100,000 system, for example. You’ll receive a 30 percent federal tax credit, plus an $85,000 tax write-off. Clearly, the numbers add up and going solar is a smart capital investment for businesses.
- Winning more customers. A go-green initiative may not be your main motivation for switching to commercial solar energy, but consumers are attracted to businesses with a sustainability commitment.
- Improving employee satisfaction. Employees respond favorably to sustainable efforts and many prefer to work for sustainability-minded businesses.
- Provides payback in less than 10 years. Our commercial solar installations have an average payback period of five to six years.
- Adds real estate value. Even if you’re not planning on selling your facility, an increased property value is helpful if you’re taking out a mortgage to expand or improve your company’s services.
- Includes system monitoring: We check your commercial solar system and you can too. If any issues come up, our knowledgeable team is notified and ready to assist.
The advantages of solar power for businesses can make them a smart decision. By installing solar, your business will be able to lock in electricity prices and reduce reliance on an unpredictable expense. Going solar makes it easier for companies to budget and plan for the future.