If you’re a business owner in North Carolina and considering switching to solar, here are three of many reasons why business and solar are a great match.
First, solar power can save you money. According to Energy Sage, the average commercial property owner paid $1,950 in monthly electricity bills before deciding to go solar, and afterwards their costs went down to $500. That’s a 75% drop! The reasons for this large saving are many. One is that the cost of solar technology is plummeting.
More and more solar companies are manufacturing panels which is driving down the price for consumers. North Carolina is actually a great state for solar manufacturing. There are 188 solar manufacturing companies in our state with 6,000 workers. All of that new industry producing these state of the art panels is driving down unit costs significantly.
Also, federal tax incentives can save a business money. The Federal Investment Tax Credit will give a 30% tax right-off on the cost of the solar investment. This is a major savings on something that will immediately produce energy that you no longer have to buy from the utilities. You can also write off an 85% depreciation on the system on your taxes. The Federal Investment Tax Credits look to be ending at the end of 2016 though, so if you want that 30% tax write-off, you’ll have to move fast.
The second reason for a business to go solar is with an increasingly green public, it is great public relations. Being seen by consumers as a company with a social conscience that is trying to do its part to reduce their carbon footprint has been shown to increase business in many markets. In an increasingly competitive marketplace, any edge can be a big help. Brand identity is very important and being a green company is a definite plus in this area.
Lastly, buying solar for your business is a good way to invest in the future stability and growth of your company. The world is often a very unstable place, especially in areas that happen to be rich in fossil fuels. Electricity rates can fluctuate greatly because of that. Knowing you have a stable supply of power can build a strong foundation for your company and add some stability to your budgeting. You will have a much better idea what your overhead will be if much or all of your electricity is coming from your own solar array.
Those are some reasons for a North Carolina business to invest in solar power. There are many others, of course, but these three alone are a strong case for a decision to go solar. If you have questions, or are ready to move forward, we would be honored to partner with you on this process. Please give our Raleigh area headquarters a call at (877) 664-6961.