Pictured: a building with BIPV (Building Integrated Photovoltaics)
The number of businesses going green is growing rapidly.
Businesses have realized how solar arrays enable them to create community goodwill, improve stakeholder perceptions, save power costs, and earn a good return on investment.
By installing industrial solar panels, you’ll be investing in a clean, green, and profitable future for your business.
1. Solar panels will reduce your power expenditure
Factories and production facilities generally have high power requirements. With solar power, you can easily reduce, or even completely eliminate, your electric bills.
Your electric bill savings will help your solar energy system pay for itself. From the moment you’ve achieved payback, your business will essentially be enjoying free electricity.
Furthermore, by becoming an energy self-sufficient organization, you will be shielded against future increases in utility power costs.
All of this will improve your bottom line and help you stay ahead of the competition.
2. Solar rebates and incentives can lower upfront costs
There are multiple rebates and incentives available for commercial solar installations.
With the investment tax credit or ITC, you get to claim 30% of the total cost and deduct it from your federal tax bill.
There are a few investments you can make today that take such a huge chunk out of your tax bill. When you choose solar power, you can claim back a good share of your investment and pour it back into your business.
3. You can save on taxes
Commercial property owners can also write off the installation of their panels through MACRS.
The Modified Accelerated Cost Recovery System allows a business to use depreciation of the solar investment to reduce their tax bill. This helps recover the money spent on the initial solar panel installation.
Your system maintenance fees are often able to be written off on your end-of-the-year tax assessment as well.
4. Solar power can boost your brand reputation
Renewable energy solutions are on-trend, and it’s high time to join the movement to save our environment. By supporting clean and renewable energy, you tell customers that you care about more than just profits. You'll create a positive brand image for your shareholders, your customers, as well as for your local community.
Once your solar panels are installed, take a few photos of your setup and share them with the world. You will demonstrate your commitment to a clean energy future, and show that you are doing your part to eliminate harmful greenhouse gasses.
Moreover, with companies coming under fire for their unsustainable practices, you can get a step ahead of critics. You also set yourself apart from the other companies in your industry that haven't gone green yet.
5. Investing in solar supports the local economy
Solar jobs in many American states increased dramatically in recent years, with the highest employment levels witnessed in California, Florida, New York, Texas, and Massachusetts.
The National Solar Jobs Census, conducted by the Interstate Renewable Energy Council (IREC), counted more than 230,000 solar workers employed by the U.S. solar industry in 2020.
When you hire local solar contractors or solar installers, you strengthen your community. Evidence shows that nearly 70% of money spent on local businesses goes back to the local economy.
The solar industry is not just powering American homes, commercial sectors, and industrial factories, but also empowering solar workers and their families.
Conclusion: Solar power is socially responsible and profitable
With the reality of climate change fast approaching, it's vital to make conscious decisions to help keep the Earth healthy while we enjoy our lives on it. Unless we make sustainable decisions, we risk leaving behind a less interesting and less diverse planet for your children.
Industrial solar panels ensure that you're getting the kind of return on investment that you deserve when you make responsible decisions about the planet.
And remember that it’s not just your business that can benefit from solar — households also stand to save thousands of dollars from installing solar panels. You can check if solar panels are worth it for your home by using our solar panel calculator; start by entering your zip code below.
Jagpreet Sandhu
SolarReviews Blog Author
Jagpreet is a specialist in digital communication and creative writing. During her career, she has produced a wide range of content including blogs, articles, case studies, brochures, user manuals, and other creative assets. She has a keen interest in solar and envisions a bright future where all our energy comes from renewable resources.