California has led the way when it comes to U.S. solar installations since 2020, with over $73 billion invested in solar power initiatives to date.
Thanks to legislation prioritizing solar installations, California is powering toward its 100% renewable energy goals.
Are you curious about implementing solar in your business? Are uncertain about what’s in it for you?
Keep reading to discover how rooftop solar panels will benefit your California business.
Cheaper Operating Costs
Installing solar panels means you can meet your business’s power needs at a fraction of the cost. Solar electricity doesn’t cost you anything, once you’ve paid for your rooftop solar panel installation.
With a solar system, your monthly solar loan repayments go toward ensuring a future without energy bills. Regular power bills give you nothing to show for these ongoing expenses.
What’s more, your solar panels will continue to save you money long after you’ve paid for their installation.
No More Blackouts
Power failures can cost a fortune in lost revenue, and delayed production can mean you lose customers along the way, too. Solar panels with battery backup installed mean you’re never without electricity during your most productive hours.
Even if you opt to stay connected to the grid for nighttime use, you can easily switch back to stored solar energy when a blackout occurs.
If your business relies on refrigeration in any form, a consistent energy supply is critical to your survival.
Predictable Energy Charges
Power companies constantly review their pricing to cope with the rising costs of raw materials, labor, and more. That means you pay more for electricity to ensure their businesses stay afloat.
There’s no way to know how much the next increase will impact your bottom line. When you install solar panels, your electricity costs remain the same for up to 20 years.
Tax Incentives for Installing Rooftop Solar Panels
When you install solar panels for your California business, you can look forward to several attractive savings at tax time. These include:
The Federal Tax Credit (ITC)
Both homeowners and business owners can benefit from this incentive. That means you can deduct 26% of the cost of your installation from your annual tax in 2022.
5-year MACRS (Modified Accelerated Cost Recovery System)
You can depreciate your solar system according to this system. Since they’re classified as capital improvements, you’re also eligible for tax credits or write-offs on your solar panels at tax time.
SGIP (Self-Generation Incentive Program)
Is your business located in a place that experiences frequent power outages? You can get a rebate on your solar battery backup thanks to this program.
Hproofingpro.com has more useful information about this incentive.
Property Tax
Solar panels increase the value of your building considerably. Yet, you don’t experience an increase in property tax due to installing solar power in California.
When you add up all these savings, they could amount to as much as 80% of the value of your solar panels.
Increased Property Value
If you’re considering buying a business in California, wouldn’t you choose one that has a reliable, cheap energy supply above one that’s dependent on the whims of fossil-fuel-derived electricity?
Of course, you would. So if you decide to sell your building, you can look forward to a faster sale as well as getting a higher price for it than you would have before.
Low Maintenance Installations
Once you’ve installed your solar panels, they require very little maintenance. An annual cleaning is all they need to stay working perfectly for as long as 20 years.
With so few working parts, you won’t spend any money on solar panel repairs during their lifespan, either.
Undeniable Environmental Benefits
As unpredictable, and often violent, weather events lash the planet, everyone’s paying increased attention to global warming. We must reduce our carbon emissions ten times faster if we want to survive beyond 2050.
Combusting fossil fuels to generate electricity is the world’s greatest source of carbon emissions that are choking our planet and disrupting our lives. On the contrary, solar power is infinitely renewable, clean energy with no detrimental effects on the atmosphere.
At the moment, large-scale adoption of solar-generated electricity is our biggest hope against extinction.
The EPA currently regulates carbon emissions for power plants, but it’s only a matter of time before their efforts extend to commercial enterprises.
Reducing the greenhouse gas emissions created by your business now puts you in a favorable position when this legislation arrives.
Boost Your Brand
Sustainable energy is a hot topic in the world right now. So, when you install solar energy, you’re bound to win favor with your customers.
Installing rooftop solar panels is a clear sign to the outside world that you care about your future and theirs. In the same way, it implies a long-term commitment to your business and your client base.
Improved Employee Satisfaction
Just like your clients, your employees will feel a sense of satisfaction knowing they’re working for a business that’s committed to long-term environmental solutions.
Your solar initiatives give them a sense of pride in the workplace and can thus result in decreased employee turnover.
Many job seekers place environmental aspects high among their priorities. In this respect, environmental measures like implementing solar panels can attract more applicants when you advertise a job opening.
Make the Right Choices
Apart from the above benefits of installing rooftop solar panels, you’ll also enjoy a sense of self-satisfaction from knowing you’re doing the best for your business.
If you’ve been toying with the idea of going solar in your business for a while, make the switch as soon as you can, and join the thousands of business owners who are already enjoying the above benefits.
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