10 reasons why your business should turn to solar

10 reasons why your business should turn to solar

Using solar energy greatly benefits businesses in many ways. Businesses around the world are harnessing the power of solar energy wherever possible. We understand the hectic nature of making decisions about going solar, which is why we've put together ten reasons why your business should go solar to help you make up your mind and decide if solar is right for your business.

1. Reduce business expenses

As businesses and startups grow and develop, they start looking for ways to reduce expenses and save money. Using solar energy can be one of the solutions that can help your business save significantly on your electricity bills. Instead of paying your utility provider thousands of dollars, you can simply generate electricity from solar and boost your company budget.

2. High and fast return on investment

Thanks to solar panel depreciation tax laws, you can get a lot of money in your first year of installing a solar system. Businesses can choose to reinvest the funds they receive or use them for solar installation costs.

3. Reduce carbon footprint

Investing in solar will not only help reduce your energy bills, it will also help your business reduce its carbon footprint. Solar energy is a green and clean energy source that directly offsets electricity purchased by utilities from coal and gas-fired power plants. This reduces atmospheric levels of carbon dioxide, sulfur dioxide (greenhouse gas) and nitrogen dioxide - a potent gas associated with smog. Installing a Litel solar panel is like planting two trees.

4. Environmental leadership

Customers are increasingly weighing business contributions and commitments to sustainability in their decision criteria. Using solar energy is a great way to show the world that you and your business care. It will make your business stand out from your competitors and give you a good reputation.

5. Tax benefits

Another economic benefit of using solar energy is the federal tax credit. Business owners who install a solar system in 2020-2022 will receive a federal tax credit of 26% of the cost of the system. Unless Congress updates the policy, the tax credit for solar systems installed in 2023 will drop to 22% and expire in 2024. Act now while this tax incentive is in effect.

6. Performance Based Incentives (PBI)

PBI allows you to receive payment from your utility provider for the solar energy generated by your system. PBI is also another great way to get a return on your solar investment.

7. Increase the value of your property

A study conducted by the American Society of Appraisers showed that buildings with solar energy systems have higher market values and better resale values to owners than buildings without solar energy systems.

8. Low maintenance

Solar panels don't require a lot of maintenance, other than annual cleaning to keep the panels in good shape and ensure they last a long time.

9. Flexible financing options

Businesses have a variety of flexible financial options to choose from when using solar energy.

10. No power outages

Unplanned power outages are a common feature of traditional energy sources and in most cases can cost your business financially. However, this rarely happens with solar power. A solar system will greatly improve your grid security.