How Solar Helps Your Commercial Business in a Competitive Market
Updated: Jan 14
Thriving companies like Intel, Verizon and Target have successfully employed solar energy on a massive scale. This technology doesn't only reduce their emissions; it helps them prosper and compete. Fortunately, you needn't run a huge corporation to benefit from solar. Many of Indiana's small and midsize businesses also use renewable energy to gain a competitive edge.
Photovoltaic panels can significantly reduce your spending on electricity. They cut commercial electric bills by $1,450 per month on average, according to The Balance. Solar also makes energy costs more predictable. Businesses become less vulnerable to fluctuations in fossil fuel prices.
How do these savings help you stay competitive? Your organization will achieve greater efficiency. If you pay less cash for electricity, you could charge lower prices. You can also spend money in ways that let you attract and serve more clients. For instance, you might hire another customer service representative or replace a faltering point-of-sale terminal.
Like most business equipment, photovoltaic panels have a substantial upfront cost. The good news is that they've become far more affordable during the last decade. Both Indiana and the federal government reduce initial expenses by providing incentives and tax deductions. The Hoosier State doesn't charge sales tax on most solar components.
Businesses recoup their equipment investments more swiftly than you might expect. It often takes about five years. This time period may become longer or shorter depending on certain factors, such as the system design and your energy needs.
What if your business needs a larger or more accessible building to stay competitive? Luckily, this doesn't mean you have to give up your investment in solar panels. The equipment adds to a commercial structure's resale value and may result in a faster sale. It can help your building stand out in a crowded real estate market.
You may wonder if a higher property value could lead to extra taxes. Indiana residents usually don't need to worry about this problem. State law promotes renewable energy by excusing most building owners from paying property taxes on the value of their solar power systems.
Certain state and local governments charge higher taxes when businesses produce more emissions. Some Indiana state senators have expressed interest in this form of taxation. If your company switches to solar and a carbon tax eventually goes into effect, you'll avoid this expense. Paying lower taxes would give you an additional competitive advantage.
While it's not easy to predict if your area will ever face an emissions tax, the rising prevalence of severe weather has become hard to dispute. Natural disasters frequently trigger disruptive power outages. After you install solar panels with optional backup batteries, you can keep serving customers or making products when blackouts force competitors to shut down.
An off-grid system will perform better and cost less if you power your heating equipment and appliances with natural gas. Regardless of whether you decide to purchase backup batteries or connect to the grid, panels work reliably and demand little upkeep. Manufacturers often guarantee panels for 25 years, and they've been known to last up to a decade longer.
Protect the Earth
Thanks to solar power, Americans burn less coal, propane and petroleum. Reduced emissions enhance air quality and limit the harmful impacts of climate change. Your company can improve its image by joining the renewable energy movement. Better public relations will help you attract loyal customers, employees and investors.
A survey found that just over four out of five people believe businesses must work to safeguard the environment, according to Nielsen. This belief truly affects spending decisions. Fortune reports that sales of eco-friendly goods have grown faster than those of other products. Some buyers also exhibit a willingness to pay higher prices if a company shows genuine concern for the Earth.
To sum it up, commercial solar reduces costs and improves energy reliability while sending a positive message about your firm's priorities. These advantages set your business apart from competitors and boost efficiency. If you're ready to make the switch, we can help. Our company became Indiana's first solar installer in 2003; clients benefit from long-term experience, dependable equipment and fair prices. Please contact us today for a free estimate.
https://www .thebalancesmb.com/ save-money-with-solar-energy-for-your-business-4108504
https://www .energysage.com/local-data/ solar-rebates-incentives/in/
https://www .nielsen.com/ eu/ en/insights/ article/2018/ global-consumers-seek-companies-that-care-about-environmental-issues/
https:/ /fortune.com/2019/11 /05/sustainability-marketing-consumer-spending/