Commercial Solar
Run your business for less
One of the highest overhead costs you will face running a business is the cost of electricity. Deciding to go solar for your business makes great business sense. No matter the size of your business, commercial solar is affordable for everyone. Could solar benefit your business? Is it worth the investment? The advantages of going solar begin immediately after you decide to install, let’s see why:
Advantages of commercial solar panels for business
1. Reduce Operating Costs
- Just like every business, we are always looking for ways to cut overhead costs. Utilities are a big expense for businesses of all sizes, so why not do what you can to reduce them. Installing commercial solar panels for your business can reduce and even eliminate electric bills.
- In addition to reducing operating costs, commercial solar power can help you can plan for the future. Without solar utility bills are subject to fluctuating seasonal charges and changing rates. When you go solar, you will know how much you will be paying each month for power. You also lock in that utility rate for the life of your panels.
2. Become a Green Business
- Solar is renewable and clean energy. When your business decides to go solar you are limiting your use of fossil fuels and reducing your carbon footprint, making a contribution to a healthier environment. Going green with solar energy can generate a positive response from consumers, giving you a reputation for environmental responsibility.
3. Tax benefits
One of the biggest advantages of your business going commercial solar is the tax benefits that come along with it. Local, state, and federal governments support the move toward renewable energy. To show their support, they have put into place tax incentives and financial assistance programs. Here are the primary tax benefits you could receive from commercial solar:
- Federal Solar Tax Credit (ITC)- The federal government tax relief allows residential and commercial a 26% rebate on the overall cost of the system. For example, if your system cost $30,000 you are eligible to receive a $7,800 tax credit. In addition, there is no maximum about that can be claimed, no matter the size of the system you are eligible to receive the 26%. (Source: https://programs.dsireusa.org/system/program/detail/658/business-energy-investment-tax-credit-itc).
- Bonus Depreciation- Depreciation on solar panels is another way to help you keep the cost of going solar down. his is Through a federal government program called the Modified Accelerated Cost-Recovery System (MACRS), businesses can now depreciate 100% of the cost basis in the first year. This 100% bonus depreciation allows you to accelerate all the federal tax benefits to immediately help offset installation costs.
- Solar Renewable Energy Credits (SRECs)- SRECs are renewable energy credits that are specifically generated by solar panels. When your business decides to go solar you are allowed to take advantage of this program and sell certificates for the energy your commercial solar panels produce. You can earn one SREC for every one megawatt-hour (MWh) of electricity generated.
Just keep in mind here at Enerform Solutions, we are not accountants, we are energy advisors, so we advise everyone to discuss these options further with your tax expert.
4. Energy Independence
Every business needs power to operate, so having a secure and reliable energy supply is essential. When you choose solar power for your business you are reducing, or removing, your dependency on utility companies. Power outages are an issue and will continue to happen. If you are connected through the grid, you are vulnerable to lapses in power supply. When you have a commercial solar power system accompanied by a backup energy supply you supply your own power in the event of an outage. There are two options that we offer here at Enerform Solutions for a backup energy supply.
- Battery Storage - When you choose to have battery storage along with your solar system you can store the extra energy your panels produce instead of sending them to the grid. Therefore, when the power goes out you have the stored power available for your use. As a result, you can keep your business running while also saving your business money!
- Generac Generators - Here at Enerform Solutions, we are partnered with Generac generators. Generac offers the best-in-class power quality for clean, and smooth operation. Having a backup generator ensures that your business will always have a power supply to rely on. You can purchase on stand-along or along with your solar system.
5. Protect Against Changing Utility Rates
- Right now if you are under the control of the utility companies you know that their rates are constantly changing and they control what they charge you. Studies have shown that on average, utility prices rise 5% each year. Utilizing solar energy for your business protects against these hikes and keeps generating more and more value every year. Commercial solar allows you to lock in your rate today without the risk of rate inflation.