As a small business owner, you’re constantly considering new ways to improve your business and your bottom line. You don’t have an endless budget, so some ideas for improving your company’s eco-friendliness might seem out of your price range. As a result, when the subject of switching to solar energy comes up, you probably shake your head and say, “Perhaps one day when we’ve grown a bit…”
However, solar energy may actually be the best move you could make for your business right now. In the past four years, we’ve seen significant decreases in the cost of production for solar panels, greatly lowering the financial barrier to entry of solar energy. Not only has the cost of solar become much more affordable, though, but there are a few compelling reasons that you might want to consider solar energy for your small business today.
Tax Incentives Make the Switch Affordable
Switching to solar this year could save you a significant amount of money, thanks to a federal corporate tax credit that’s running until the end of the year. If you switch to solar energy before December 31, 2019, your business will be eligible to receive a rebate for 30% of the cost of making the transition.
And that’s not the only tax incentive you can take advantage of if you go solar. Did you know that you can actually deduct up to 85% of the value of your solar power system from your business’ taxes?
With these two significant incentives, making the transition to solar is suddenly much more affordable.
Show Your Business’ Commitment to Sustainability
According to Inc., “Examples abound of businesses that have won large contracts due to their solar investments – buyers love products and services that are sun-powered!” Thus, switching to solar energy is a great way to attract new customers and to keep your current customers coming back. Essentially, today’s customers are interested in sustainable, eco-friendly business practices, and showing them that you’re committed to reducing your carbon footprint and creating a more sustainable business can have a significant positive impact on sales and customer experience.
Reduce Your Business’ Operating Costs
Solar power systems basically pay for themselves over time with reduced utility costs. Depending on the system you choose, you can either significantly reduce your business’ electric bill each month, or even eliminate it entirely. In fact, in some areas, you can even get a rebate for going solar if your solar power system produces more energy than you use. Even without this kind of rebate, though, the dramatic reduction in your electric bill each month can do wonders for your budget and your bottom line.
Not only is solar power more cost efficient now, but it may actually prove to be an even better investment than you might think. Consider that power companies’ rates are not fixed, and they tend to rise over time. Even if you don’t see a major increase each year, over a long enough period of time, you will eventually notice that your power company is charging you more per kilowatt hour than they once did. That’s not the case with solar power, as – after you’ve paid for the equipment and installation – you’ll essentially be getting free electricity for as long as you keep your solar cells operational.
Improve Your Real Estate Investment
Whether you’re working out of your home or you’ve purchased an office space for your business, going solar can improve the value of your real estate investment.
How can improved property value help you and your business? If you’re working out of an office space that your business owns, as your business grows you’ll likely find yourself in the position of needing more space and/or a more central location for your headquarters. Improving your property value now will help you sell the building faster and at a better market value so that you can afford to purchase another property that will meet your needs.
Think Globally, Act Locally
Finally, as a small business owner, you know how valuable it is when people shop locally and support local businesses. Switching to solar gives you the opportunity to support a local solar power company while helping your own business at the same time. Who knows? The people who work with you to determine how many panels you need and the ones who install your solar cells for you could be future customers.
These are just a few of the most compelling reasons that small businesses should go solar today. It’s never been less expensive or easier to choose a more sustainable source of energy, so why not look into making the switch to solar today?