The commercial solar energy industry is booming. Solar panels are becoming a popular option for renewable energy with many companies, whether large or small. These companies know that the benefits of investing in solar are numerous. By installing solar panels for your business, you are investing in a huge ROI, a positive public image, and a “green” company. Read on to learn more about what an investment in solar can do for your company.
There are a variety of factors that impact the cost of your initial investment in solar. For example, the amount of energy you use, the brands and products that are best for your project, and the level of energy independence you hope to achieve can all affect your initial costs.
While it is impossible to say precisely how much your solar energy system will cost initially and exactly how much you’ll be able to save, you can rest assured that you will start seeing smaller energy bills almost immediately after your system goes live. Many companies see their energy costs reduced by 75% or more! The average solar panel comes with a 25-year (or longer) warranty, which means you may have decades to save your company money before making any additional investments in repairs or replacements. Generally, you can expect your solar panels to pay for themselves in about three to seven years.
One of Cedar Creek Energy’s clients, Crankshaft Supply, reaps the benefits of their solar energy system every day. Since installing 96 solar panels on their roof, the company uses solar energy to cover half of their total energy needs. They will save more than $130,000 over the life of their solar energy system. In addition, Crankshaft Supply is reducing its carbon dioxide emissions by over 65,000 pounds every year.
Your company may see different benefits to solar than others; each company is unique. What remains constant is that any business can see savings on their energy costs if they switch to solar energy by working with an experienced solar energy company.
Investing in Public Perception
Another great return on your solar energy investment is the public’s positive perception of your company’s sustainability efforts. Studies show that many consumers want to personally identify with the company with which they do business. Often, your potential clients will be especially passionate about supporting green companies that prioritize public health and the environment. In fact, a recent study concluded that 78% of U.S. consumers want to support sustainable brands. By joining other small and large businesses that have switched to renewable energy, you will attract consumers based on your company’s values.
How to Optimize Your ROI with Solar Panels
You can optimize your return on investment by considering several factors when installing your solar panels. When you hire a professional solar panel installation company, they will determine what your best installation will be based on factors such as the type of roof you have for placing panels, the history of your energy consumption, and your energy company’s peak usage times. This last factor is important since you will likely need to buy energy from the energy company for nights and in the winter; don’t worry, you’ll offset the cost with your solar energy system.
There are so many financing and rebate the options for solar, you will save money on your initial investment and optimize ROI just by working with a solar energy company that can help you find the best options available to you. One of the most significant rebates is the Federal Tax Credit, which allows you to receive a 26% rebate on your solar panel installation in the form of a tax credit at the end of that year. This is a great way to start your company’s solar energy venture out on the right foot with big savings.
If you would like more information about how a commercial solar system will benefit your business, contact Cedar Creek Energy for a free consultation.