Commercial Solar Power Benefits
If you’re in business, it’s a good time to go solar. Demand is rising, costs are dropping and federal and state incentives allow businesses to start saving money as soon as they turn on their solar system. Owning a solar energy system is more feasible and rewarding than ever—and it’s a surefire way to achieve energy independence, reduce your carbon footprint, and save on utility bills. When you invest in solar energy, you can expect extraordinary returns and a number of competitive advantages:
Commercial Solar Power Benefits – Federal Government Tax Credit
The Investment Tax Credit (ITC) is a bedrock solar incentive. The federal government provides a tax credit worth 30% of the cost of your system. It’s a dollar for dollar, uncapped tax credit that can be carried forward into the future. After your system has been commissioned, you can take advantage of the credit the next time you file a federal tax return.
Commercial Solar Power Benefits Solar Renewable Energy Certificates
A major state-level incentive, Solar Renewable Energy Certificates (SRECs) can be compared to shares of stock and are the revenue portion of your solar photovoltaic system. One certificate is issued to you each time your system produces 1,000 kWhrs of electricity. Instead of receiving a fixed payment per kWh, certificates are sold on an open market for cash. In fact, Green Power Energy can even sell your SRECs for you.
Commercial Solar Power Benefits Clean Renewable Energy
Solar power is an infinite resource that allows you to independently create your own energy. When you invest in solar, you gain energy security and a clear conscience. No greenhouse gas emissions, no nuclear waste—just clean, reliable energy. In addition to lowering your operating expenses, solar power can help insulate your business from volatility in the power markets. By producing your own electricity, you can save your company money and guarantee a fixed rate. Net metering, a policy which allows you to sell surplus energy back to utility companies, will help you maximize the value of your electricity production.
Commercial Solar Power Benefits Increased Property Value
Incorporating solar power into your commercial building can dramatically increase the economic value of your property. Renewable energy systems are known to increase resale value by $20,000 for every $1,000 in annual electricity savings. In some states, solar power systems are also exempt from sales tax and property tax increases. By investing in solar power, you not only boost the economic value of your property but also make it more attractive to investors who might be willing to pay a premium for a building that is economically and operationally efficient.
Latest In Solar Technology
- Solar power is pollution free and causes no greenhouse gases to be emitted after installation.
- Reduced dependence on foreign oil and fossil fuels.
- Renewable clean power that is available every day of the year, even cloudy days produce some power.
- Return on investment unlike paying for utility bills.
Solar energy is a good alternative to replace fossil fuel as the major energy source because solar power is renewable at absolutely no cost to supply energy infinitely. … Solar panels are able to harness the energy from the sun and convert it to electricity. Therefore, the use of solar panels is environment friendly.
The Future of Solar is Bright. The Sun emits enough power onto Earth each second to satisfy the entire human energy demand for over two hours. Given that it is readily available and renewable, solar power is an attractive source of energy. However, as of 2018, less than two percent of the world’s energy came from solar
Minnesota Commercial Solar Power Benefits
Benefits of Solar Installed by Our Minnesota Commercial Solar Energy Team. … After utility bonuses, grants, state and federal tax advantages, including a 30 percent tax credit, and other rebates, the typical solar project has a payback of 7-10 years