With increased economic uncertainty and instability leading to cuts and losses across numerous industries, business leaders are constantly looking for ways to drive revenue while minimizing operational costs. Recently, there has been growing interest in and adoption of renewable resources like solar energy.
Let’s look at how cost-effective solar panels are for your business, how solar tax credits and solar energy credits work, straightforward ways to be greener and how high-quality solar structures can help save you money.
Going Green — How to Reduce Your Business’ Carbon Footprint
Going green is a philosophy of adapting our habits to be more mindful of our environmental impact. Conscious business owners implement strategies to conserve non-renewable resources while reducing pollution and consumption. For example, one notable change across the board is the material businesses are using to minimize waste. Most opt for eco-friendly, carbon-free or recyclable products.
Since fossil fuel is the most significant contributor to global warming, more businesses are seeking ways to reduce their carbon footprint by switching to alternative energy sources. By installing solar panels, your business can decrease greenhouse gas emissions’ damaging environmental effects, resulting in cleaner air while using less water and carbon.
Cost-Effectiveness of Solar Panels
While solar power benefits extend beyond financial implications, cost savings are a primary motivator for any business considering installing solar panels. Here are four reasons solar energy is cost-effective.
1. Tax Credits
Solar power tax credits can work in your favor, reducing your business’ tax obligations when you file your returns.
2. Reduced Utility Bills
Businesses can save significantly on electricity after installing solar panels. Depending on variables such as how much sunlight your region receives, your array could pay for itself over time.
A solar panel installation will also ensure long-term cost-effectiveness for businesses by using the sun’s energy as a natural power resource instead of continuing reliance on fossil fuels.
3. Cheaper Solar Panel Costs
Some companies offer bulk purchasing discounts to encourage more people to switch to solar. Additionally, material costs have decreased alongside improved technology. Your provider may offer to deliver, install and maintain bulk solar panel orders at a reasonable price.
4. High ROI
By installing solar panels, your business will enjoy a higher return on investment over time. The process might be gradual depending on your solar setup’s cost and size, but your company can profit from having an independent, functional system for the future.
Solar Power Systems for Your Business
Every business has different reasons to use solar panels. Here are three options for powering your business with solar.
- Off-grid: This system will require an extensive array of solar panels, paired with battery storage that saves energy for use at night or during overcast days. The aim is for it to run on its own, completely independent of the grid.
- Grid-tied: Most businesses opt to remain connected to their local utility grid to allow a hybrid flow of solar and electric energy based on the current reserves. When solar supply is low, you’ll switch to electricity to ensure no service interruptions.
- Grid-tied with energy storage: Businesses can save money by using solar batteries instead of electricity, but can still draw power from the utility company as needed.
Solar Panel Durability and Maintenance
Investing in solar panel power is sustainable in the long run. The materials used to manufacture solar panels are durable enough to last decades with proper maintenance.
Here are a few steps to ensure your solar array remains in optimal condition.
- Cleaning: For the solar panels to retain maximum energy, the surface must be clean of dirt and debris. Regular checkups and cleaning will maintain peak functionality.
- Inspection: Despite being durable, solar panels experience constant exposure to harsh weather. Periodically inspect your array for potential damage to the wiring and inverters.
Solar Tax Credit — How It Works
How does the solar tax credit system work? You can gain tax benefits for choosing solar energy. In 2020, the federal government incorporated a tiered approach to allow businesses to receive up to 30% of their investment in solar systems. Since then, the government has extended the Solar Investment Tax Credit to include 2023 in the 30% rebate bracket, while it will decline to 26% in 2033 and beyond.
This credit implies significant tax savings for your first year of purchasing a solar array. For example, if your installation cost $30,000, you can deduct $9,000 from your total annual tax amount. If you owe less than $9,000 on your taxes, you can carry the credit over to the next year until your balance is $0. Tax credit for solar power is a fair and beneficial way of empowering businesses to take a step toward sustenance and longevity for the environment and global community.
Haven Solar Structures — A Unique Experience
USA SHADE has an unparalleled ability to provide beautiful structures that offer maximum sun protection. One such exceptional feature is the Haven Solar Structure, which is ideal for various businesses.
- Those that encourage their employees to work outdoors in the summer or want visitors to have a unique experience as they lounge beneath a solar-powered canopy
- Parks where people can charge devices with solar power while taking a break
- Hotels, resorts and recreational areas that want to offer memorable guest experiences
Haven Solar Structures provide versatility, durability, sustainability and comfort. Businesses that install them are also eligible for a tax credit, making solar shade structures an exceptional investment.
USA SHADE Has What You Need
While our Haven Solar Structures offer the best in solar advancement and sustainability, we have an array of shade structures to suit every need at USA SHADE.
We manufacture shade structures for businesses, parks, schools, playgrounds, picnic areas, shopping centers, swimming centers and outdoor party venues. There is no area too big or small for our outstanding products.
We have everything you need — from shaped and multi-sided shade structures to shade sail, cantilever, single-post, specialty and custom shades.
Request a quote today, and we will walk you through our all-inclusive process from inception to installation.
