Owning a business comes with a lot of considerations and related costs. If you are like most property or business owners, you are probably always searching for ways to save money and cut costs.
One way to do this is by investing in a commercial solar system. Keep reading to learn about the benefits offered by this system.
Reduced Utility Costs
Once the commercial solar system from providers like https://blueravensolar.com/blog/solar-pros-and-cons/ is installed, you will begin to see reduced utility costs. These reduced costs will help increase your business’s total net income.
Net Metering
With net metering, solar can be used to cover various common areas located in a commercial property. While this all depends on the tenant setup, some property owners will be able to pass the savings they see to their tenants.
Significant ROI
When you consider switching your commercial property to solar, you should not look at it as an expense but as an investment. The ROI (return on investment) you receive from solar power will exceed most of the other investments you make regarding how much money your business can save through the years.
Increased Property Value
People interested in buying property are usually willing to pay for more energy self-sufficient properties and have lower operating costs.
Reports show a 1:20 ratio for savings compared to property value increase. This means that with every dollar you are selling on your utility bill, your property value increases by $20.
Increased property value is just one factor. Self-sufficient energy also helps increase the equity value of your property.
Battery Backup Incentives
Incentives help to reduce the cost of installing a commercial solar system. The primary Federal incentive is offered as a tax credit of 26%.
You can also receive 100% bonus depreciation based on the Tax Cut and Jobs Act. This means the entire cost of your solar installation can be depreciated for the year the system is installed.
These local and federal incentives can help you recover more of the cost you pay upfront for the system.
Control Your Future Energy Costs
It’s challenging to predict future operating costs. This is because what will happen down the road is unknown.
While this is true, once solar panels are installed, predicting your energy costs will become easier. Rather than dealing with fluctuating costs, you will know what to expect from one month to the next.
This makes budgeting for your building or property simple. Also, you can avoid having to deal with ever-increasing energy costs.
Invest in a Commercial Solar System Today
As you can see from the information above, installing a commercial solar system offers several benefits. If you have been thinking about making this investment, now is a good time to make a move and do so.
If you are searching for more helpful information and resources, we have you covered. Read some of the other blogs on our site to find helpful information you can use.