Solar isn’t just for Apple and Walmart anymore: It’s time to shake up the way you view solar and join the quickly growing group of smart business owners jumping over the great benefits of commercial solar. If you are a business or commercial property owner looking to rid your self of the ever-increasing utility costs each year, you’ve come to the right place! US SolarWorks believes going solar is a great investment for businesses looking to decrease costs, and promote sustainability!
More Confidence in Future Costs
The main reason companies begin looking into going solar is because of the economics. Businesses have higher electric bills, making their budgets vulnerable to price increases. Going solar allows companies to decrease or completely eliminate their electric bill. Once installed, solar panels also require little to no effort, so once the system is online you as a business owner can sit back and enjoy energy savings. How could your business benefit from not worrying about utility costs?
To make solar even more financially appealing, there are incentives in place. One popular incentive is the Federal Tax Credit (ITC). This 30% tax credit is awarded the tax season after the system has been installed. A company can choose to utilize the entire tax credit all at once or break it down over many years. Beginning in 2019, the tax credit rate is scheduled to decrease annually and after 2022 will stay at 10% for commercial-scale solar only.
Currently, Rhode Island has two incentives programs designed for commercial solar projects: the Renewable Energy Fund grant and the Renewable Energy Growth Program, a feed-in tariff through National Grid. A company cannot utilize both incentives. Back in spring of 2018, Massachusetts rolled out their new SMART Program, also a feed-in tariff. This program consists of 8 blocks, where each new block decreases the tariff amount. Both the Rhode Island and Massachusetts financial incentive programs are expected to slowly fade out as the solar market heats up. Therefore, if companies are looking to go solar, today is better than tomorrow.
Public Relations Boost
Better financial stability is not the only advantage companies have when going solar. Many businesses who have adopted green practices such as solar have noticed a significant increase in positive public relations. Studies have shown that when a company goes green they are more likely to be seen as trustworthy and conscious about their local community.
If you believe going solar would be a good investment for your business, contact US SolarWorks today to get started on saving energy and money.