5 Best Reasons for Businesses to Install Solar Panels

Now a mainstream business investment, solar is smart business. Businesses continue to adopt solar, and rightfully so. The value proposition combines both economics and environmental considerations. Retail giants such as Target, Walmart, and Amazon already have made sizeable solar investments, and smaller businesses are following suit. Let’s look at the top 5 reasons businesses are considering commercial solar.

1. Savings

Commercial solar energy systems will help businesses slash their electricity costs. Solar power is the way forward for businesses looking to reduce their reliance on the traditional power grid and save big on their electricity bills. Solar systems also provide businesses with a steady supply of electricity, reducing losses due to power fluctuations.

This is about more than just savings, return on investment (ROI), and internal rate of return (IRR). It’s also about net operating income (NOI), which increases the value of your business while allowing you to keep more of what you earn.

Savings come from several variables, including system design, financing, utility and tax incentives, and utility rate plan. A well-designed system with detailed engineering and a well-trained crew will deliver the best value. A poorly-designed system may cost less, but the result may prove to be more expensive in the long run.

2. Resiliency

We’ve all experienced the frustration of the power going out on the job, and it’s unacceptable. Solar panels alone will not prevent outages. When a power outage occurs, your solar system shuts down to prevent energy from being backfed to the grid and endangering utility workers working to repair the outage. A backup battery system allows customers to cover a portion of their power needs during an outage. Stored energy can be used during these periods. Solar + storage adds resiliency to your business—that’s how it works. A battery system solves many of the what-ifs of solar.

The best solution is to install a complete off-grid solar system. Use photovoltaic panels in conjunction with a high-quality off-grid inverter for high-efficiency conversion. In natural disasters or other emergencies, the traditional power grid may be affected, resulting in power interruptions. An off-grid solar system will operate independently to provide a stable power supply to your office and ensure business continuity.

3. Sustainability

Commercial solar energy systems are the clean, renewable energy solution. By reducing reliance on fossil fuels, businesses can lower greenhouse gas emissions and reduce environmental damage. In addition, solar energy systems can provide businesses with a long-term energy supply, helping them achieve sustainability goals.

Sustainability is a major priority for U.S. businesses. In fact, 86% of businesses on the S&P500 published sustainability/responsibility reports in 2018. Amazon made a pledge to be completely renewable by 2025, further cementing its business as a leader on sustainability. Walmart is partnering with their suppliers to remove a gigaton of carbon from their supply chain. Going solar allows you to lower your carbon footprint and power your business with clean energy. The green initiative to help the environment is gaining momentum and is here to stay. Major businesses are switching to renewable energy sources, and many have already made the switch.

4. Monetization

It's simple: businesses can reduce operating costs by cutting their electricity bills. Secondly, solar systems will improve a business's energy efficiency and increase productivity. Finally, businesses can earn additional revenue through local subsidies or by selling excess electricity to the grid. These subsidies include investment tax credits, accelerated depreciation, and renewable energy subsidies.

Utilize programs offered by utility companies to capture additional value from your system. Several rebate programs for renewable energy and energy efficiency exist, depending on your location and utility provider. These programs provide incentives for clean energy production and encourage mutually beneficial use of battery systems for your company and the grid. Small reductions in energy use can make a significant impact.

5. Proof point of commitment

In today's social environment, consumers and investors are increasingly concerned about corporate social responsibility. By constructing solar energy green buildings, companies can demonstrate their commitment to environmental protection and sustainability, enhance their brand image, and attract more consumers and investors.

Having solar installed at your business is a statement that shows your organization’s commitment to sustainability and bettering the environment. Many customers expect businesses to be environmentally-conscious, and adding solar does that. Reducing your dependency on fossil fuels helps combat climate change and air pollution. It also serves as irrefutable proof to outside parties that your business holds itself to a high environmental standard.

PowerHome can help your business

Commercial solar systems are the solution for businesses looking to save money, improve energy reliability, achieve sustainability, create economic benefits, and demonstrate corporate commitment. Solar technology is advancing rapidly, and costs are coming down. It's only a matter of time before commercial solar systems become the energy solution of choice for businesses everywhere. If you're ready to jump on the solar bandwagon, check out our solar panels price list here to see what we've got on offer.