3 Financial Benefits of Installing Commercial Solar Systems - Including an Unexpected One

Your business is thriving, and you want to keep the momentum going. Or, maybe you’re struggling to make a monthly profit and know something has to change.

Solar systems are a wise investment for your bottom line – and in more ways than one. Below, the premier solar services team at  Commercial Solar Arizona highlights some of the benefits, including unexpected ones, you should keep in mind if you’re debating whether or not to install commercial or industrial solar systems for your business.

Lower Utility Costs and Energy Dependence

It’s no secret that energy prices continue to rise, all while the country’s electrical grids become older and less equipped to handle modern power demands. As a business owner, it’s essential to look to the future: you must plan for energy price increases and a way to supply energy to your business without having to depend on evermore unreliable electrical infrastructures.

This is where solar systems come into play. As it stands today, utility bills can generate some of the highest costs for your business, reducing your annual profits. Installing solar systems is one way to lower those costs.

Solar systems work by using energy from the sun to provide your business with electricity. This means you won’t have to use as much electricity from the grid, therefore saving you money. While utility rates fluctuate year-to-year or even month-to-month, you can feel confident that your energy costs will be more predictable when you have solar systems.

Additionally, because solar systems typically last decades, you can make a utility budget line that is less likely to change annually compared to other expenses. Moreover, if your solar system includes a solar energy storage system, you will have a reserve power source. This can help supply electricity to your business during a blackout. It can also allow you to use stored solar energy when the sun isn’t out, or for use in reducing demand charges on your bill.

Tax Incentives

Another benefit of considering solar power for your business is the significant tax advantages currently available. The Solar Investment Tax Credit (ITC) is the most notable federal government incentive.

There are also a number of other federal and state incentives that can further reduce the cost of going solar. For example, Arizona offers property and sales tax exemptions for solar installations. At the end of the day, when you combine these incentives with the current ITC, the tax credits (dollar for dollar) can equal approximately 60-70 percent of gross cost of the solar system.

Unexpected Benefit — Improved Impression on Customers & Employees

What may be surprising for some business owners is that installing solar systems can improve a business’s impression on customers and aid in the retention of employees. But what is the connection here?

Consumers today are more likely to recommend a business and be repeat customers if they feel like the business’s values align with their own. It’s increasingly important to consumers that organizations demonstrate a commitment to sustainability. For many businesses, that first step is finding ways to use renewable energy, like “going solar.”

In 2021, Business Wire published an article with some eye-opening findings from a study conducted by global strategy and pricing consultancy, Simon-Kucher & Partners:

• Sustainability is rated as an important purchase criterion for 61 percent of U.S. consumers.
• One-third of consumers are willing to pay a premium for products that are sustainable. Globally, that willingness is highest in the U.S. at 42 percent.

This demonstrates that many U.S. consumers look at companies with “green” practices favorably and that sustainability is becoming a customer expectation. Moreover, many customers also recognize that solar energy is a great way to support local economies and create jobs in the renewable energy sector — so not only are you helping your business but many other businesses too.

Customers can also agree that solar systems are innovative, which puts your business at top of mind when new industry trends or ideas are introduced.

Contact Commercial Solar Arizona If You Are Considering Commercial or Industrial Solar Systems

Installing solar systems may seem like an intense and costly process. But as our team at Commercial Solar Arizona shared, there are significant benefits, including ones you may not have considered. Whether you’re ready to install solar now or have questions about the process, Commercial Solar Arizona is here to help.

Check out our photo gallery of past projects, read our reviews, and contact us so we can start helping you and your business. Reach out online or by phone so we can start working together: (480) 877-1554.