Successful businesses must maintain strong control over costs without sacrificing service quality. That’s why solar panels could be a game changer, and the US government is making change even more affordable.

Why should businesses take advantage of solar incentives?

Depending on your size businessyou could have lots of extra space which can be used to significantly reduce energy bills.

If you have a small businessyou may have some available roof space that doesn’t do much. If you have a large business, you may have factories or warehouses with huge amounts of open roof space, or maybe even a car park that would benefit from a few outdoor carports.

There solar panels Come in. By using this unused surface, you can significantly reduce your energy bills – and maybe even make money by selling the generated energy back to the power grid.

Doubters may be concerned about the upfront costs of a solar panel installation, but government incentives make it so technology cheaper than ever.

Businesses can access both the Federal Investment Tax Credit and the Modified Accelerated Cost Recovery System, helping to reduce the cost of a solar panel system by up to 70 percent.

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For example, based on calculations from EnergySage, a 25-kilowatt system that costs $78,750 can be reduced to just $16,538. Expanding to a 500-kilowatt system that costs $1,050,000, these incentives can bring the price down to $220,500.

After all this, it won’t be long before the system starts to pay for itself. EnergySage says, “On average, medium or small businesses will save approximately $101,259 in electricity costs with solar energy.” That’s without considering what can be gained by selling the power you produce.

Why is solar important for business?

right National Federation of Independent Businessenergy costs are one of the top three expenses for 35% of small businesses. Meanwhile, research from PwC found that over half of UK businesses said energy accounted for around 25% of business costs.

What should be done to make home solar panels cheaper?

More tax incentives

Lower installation costs

Better loan options

They are already quite cheap

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This is a huge chunk of change that could seriously jeopardize the future of a business. If you can seriously reduce those annual bills, you can use those savings to help other areas of your business thrive.

With energy costs constantly rising, now is the time to switch and The free EnergySage tools can help make the process easier by connecting you with local suppliers and installers and offering a range of quotes for comparison.

How else can switching to solar help?

While potential savings on energy bills will grab the headlines, switching to more sustainable energy can have an impact on the customer base of the business.

The 2023 Simon-Kucher Sustainability Study found that “62% of respondents consider sustainability more important now than they did a year ago.” If your business demonstrates sustainable practices, it will encourage people to use your services.

Solar panels reduce – or even eliminate – the need to access electricity from the electricity grid, which still runs largely on dirty fuels such as coal and oil. Pollution from burning these fuels for energy increases global temperatures by trapping heat in the atmosphere – which can increase length, strength and regularity extreme weather events.

But if a business generates its own clean electricity, it can reduce the production of planet-warming gases from the energy industry, and customers will see this clearly with a solar panel.

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