EDITOR’S NOTE: The following is a guest blog written by Tim Smith, a former contractor who writes about home improvement and energy efficiency topics for Modernize.
Want to help the Earth and lower your company’s carbon footprint while saving money using tax breaks and incentives? Solar energy puts the power in your hands to reduce your monthly electric bill, all while helping the environment. There are a few surprising advantages with going solar that many people overlook. If you’ve ever regretted handing over your hard-earned cash to the electric company, or if you’re looking to make your carbon footprint smaller, then you should definitely check out the benefits of solar power.
No one needs to tell you about our dependence on fossil fuels and their inevitable depletion. Unless you’ve been living “off-the-grid,” you know the threat of the looming energy crisis. Doing our part to protect this planet is more important than ever. Switching your business over to solar power is a huge step towards helping protect this planet we call home. Depending on the size of the system, you could potentially cut the cord binding you to the electric company and their ever-increasing prices.
A Solar System Worth of Savings
There are a lot of financial reasons for a business to switch to solar power. The Business Energy Investment Tax Credit provides a 30 percent rebate for companies that use solar, wind, or fuel cells that either provide light, regulate temperature or warm the water in a structure. After 2008, the government removed a previous cap that kept the total amount refunded to $2000 or less. Now, you’ll receive the full 30 percent of the cost for the entire system, no matter how much it costs.
Besides the hefty tax credit, the savings on your monthly electric bill can be huge, too. Examples from certain states have shown an overall annual reduction in money spent on energy to be as much as $7,000. Most mid-size commercial solar power systems pay for themselves within four to five years.
Added Value to Your Commercial Structure
Commercial buildings with a partial or full solar power system can gain a considerable amount of resale value. A structure ready-made to reduce or eliminate dependence on the electric company is very attractive in the eyes of a potential buyer. It also looks good to potential customers who view it as a responsible business practice. Large systems can even produce a surplus of energy which you can sell back to the electric company. These incentives in addition to the tax credit and annual savings add up to a considerable amount when combined.
The benefits of a commercial solar system are impressive from any angle. Saving money and the Earth all at once is a win-win situation for everyone.
by Tim Smith
See Also: Solar Panels in Texas