When it comes to effectively running a business of any kind, one of the largest focuses is on the bottom line. Unfortunately, many businesses simply do not realize how much they can actually cut their overall energy costs simply by converting their energy usage to solar power. There are several financial incentives involved when it comes to going solar, including net metering, tax incentives and even solar loans.
Net Metering – Many states in the United States are offering cost savings to businesses that go solar through net metering. What this refers to, is state laws requiring utilities to purchase power which is generated by solar systems. So if a business like yours is generating more solar energy than what is actually needed by the business, the building power meter will run backwards and the utility company will actually buy this excess solar energy. If your business is only open on certain days of the week, any solar power that is generated while the office is using no energy will essentially create free money for the company.
Tax Incentives – Because most governments know that change can be initiated through economic benefits, they are often willing to grant tax incentives such as tax credits and tax deductions as a way to help businesses convert to solar energy. Your business may see a tax credit or a tax deduction for as high as thirty-five percent of the cost of installing the solar energy system, which means a lot of money saved in the long run.
Solar Loans – There are even more benefits available to businesses that go solar, such as being allowed to participate in solar financing programs which are offered by many governments. These loan programs generally offer incredible terms as a means of promoting this renewable energy source, and these programs make a lot of sense for any business regardless of whether they are just building or working on renovating their location. You can typically find solar loans with between seven and ten year terms, with no interest or at least an extremely low interest rate.
At this point, if deciding to take your business solar is not the easiest decision that you ever made, you must not have truly considered all of the great benefits. To benefit the health of the planet and the bottom line in your business, going solar may be the best financial decision ever made