Businesses everywhere have been looking for an alternative to fossil fuel dependency. In their search, many of them have chosen to use solar power as their renewable energy source. Not only is solar power beneficial for the environment, but it also provides a wealth of other benefits that ensure a high return on investment. If you are considering converting to a more sustainable and environmentally-friendly energy source, now is the time to act on it. Expert Solar is a solar panel installation company in Norfolk, VA, helping businesses benefit from this renewable energy source and learn how to get the most out of it.
5 Key Benefits of Solar Panels Installation for a Business
Solar panel installation is more affordable and available than ever before. In fact, recent research shows that the cost of solar panel installation has decreased by over 60% in the last decade. Because of this, many small and medium-sized businesses can now benefit from this investment opportunity. As a result, businesses are discovering the various benefits of solar panels, including reducing operating costs, scalability, independence from fossil fuel energy, tax benefits, and financial/environmental investments.
Cutting Operating Costs
One of the most significant costs associated with operating a business is the utility/electric bill. Most businesses depend on grid power which is fueled by fossil fuels. This puts them at the mercy of energy companies that can hike up the price of electricity depending on supply chain issues, inflation, etc. If a business is interested in cutting its operating costs, choosing to utilize solar panels can significantly reduce its monthly expenses. In fact, many businesses can save over 30% on their annual utility bills by switching to solar power.
Making significant investments in your business requires you to think about the future. Will this investment help us in the future? Will we see a return on the investment? How long will it take to get there? When considering these questions, it is also essential to consider the scalability of the investment. When it comes to solar panels, this investment is infinitely scalable. As your business grows, your solar panel energy will continue to provide for you.
Similarly, with so many government programs pushing towards renewable energy, it is easy to see how investing in solar panels would be beneficial—if not necessary. For example, in the state of Rhode Island, an executive order was signed by the governor to “meet 100% of Rhode Island’s electricity demand with renewable energy by 2030.” In addition, global policies predict that “Renewables [will] account for almost 95% of the increase in global power capacity through 2026, with solar PV alone providing more than half.”
These examples alone demonstrate the importance of choosing a scalable resource that will continue to support your business well into the future.
Independence From Other Energy Sources
As demonstrated by cutting overhead costs, solar panel installation allows businesses to become independent from other energy sources. This independence allows ensures that your business will have a reliable source of energy—no matter what happens to the national grid. This allows you to continue operating while other businesses cannot due to power cuts and outages.
Similarly, any excess electricity that is generated and not used is stored on a battery in the solar panel. This self-storage model allows you to have stored energy for usage during periods when the solar panels are not as efficient. (This could be on cloudy days, rainy days, nighttime, etc.)
In addition to these various benefits, current businesses are subject to a tax benefit in the United States if they choose to install solar panels. Businesses in Virginia can claim up to 24% of the solar panel installation cost on their taxes with the Federal Solar Energy Tax Credit. However, this incentive is only available until 2024, so businesses have until this time to install solar panels.
Financial And Environmental Investment
As many consumers try to choose greener, more environmentally-friendly companies, switching to solar power can be an excellent financial and environmental investment. The switch to solar power allows you to reduce your carbon footprint and provides you with a competitive marketing advantage. This, in turn, can be actualized in an increase in sales as you position yourself as an environmentally conscious company. Plus, with help from solar financing companies in Norfolk, VA, you can immediately benefit from this resource while paying back the installation cost over time.
Invest in Your Business with Help From a Solar Panel Installation Company in Norfolk, VA
Are you ready to make the switch to solar power? Rely on the solar panel experts in Norfolk, VA—Expert Solar. As a solar panel installation company in Norfolk, VA, serving the Hampton Roads area, we have helped numerous companies make the transition to solar power and discover the countless benefits it offers.
Take advantage of this renewable energy source and make the future-proof investment with assistance from Expert Solar. Call us at (757) 988-7777 or go online to contact us and see how much a solar panel installation can save your business.
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Looking for solar installation services in Virginia Beach, Chesapeake, and Norfolk? Give us a call at 757-988-7777 today! Our experienced team is ready to help you with the Federal Tax Credit and guide you through our low-interest financing option.