The financial, environmental, and community benefits of solar energy are well-established and well-known. Millions of homeowners across the country are taking the solar route to energy-independence and cost savings. However, it’s not just the households that can take advantage of the terrific benefits offered by solar energy. Businesses, too, can go green and enjoy the benefits that come with it.
Federal Tax Credit
Every solar system purchase and installation comes with a flat 26% tax credit, whether you are a household or a business. For a $25,000 for an example solar setup, your business can get immediate relief of $6,500.
Long-term Cost Savings
The promise of solar is not merely government incentives; it’s the thousands of dollars in cost savings annually. Solar panels offer you practically free energy for several decades to come. In fact, when you consider the various incentives and utility bill cost savings, you recover your investment into solar panels in the 6th or 7th year, depending on the size of your system. Therefore, it’s just profits and profits for decades.
MACRS Depreciation
Renewable energy projects like solar installations are covered under MACRS depreciation. You can depreciate your solar installation rapidly in the first few years, and gain substantial tax exemptions on your corporate profits. The money saved can be invested back into your business to fuel your growth. It’s a brilliant reason why many businesses are going solar.
Differentiation
An average person is exposed to 5,000 ads every day. That’s a lot of brands trying to vie for the consumer attention. What’s your brand strategy to pierce through the noise?
Here’s an idea: sustainability. A Nielson’s report has revealed that 66% of the consumers are ready to pay more if the product is offered by a sustainable company.
Sustainability has obvious benefits. It protects your business against unexpected regulatory shocks, and changes in the business environment. But you know you have a more important reason to go solar. Your customers care about it and will actually reward you with more business if you demonstrate your commitment to sustainability with solar panel installation.
Conclusion
The youngest generations have already witnessed two lifetime’s worth of devastating global disasters in just two decades – the great recession and the COVID-19 pandemic. The looming threat of global warming-induced climatic changes weighs heavy on their psyche. By joining them in their fight to preserve the environment and the planet, you can inspire strong loyalty from your customers.
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