We’re constantly reading in the news about big companies across the country who have made the switch (hello free publicity) to solar. But you don’t have to be a high-profile business to invest in photovoltaic power. As adoption rates continue to increase for residential solar energy, commercial solar power has the potential to save even small to mid-sized building owners and businesses even more money every year. Making the move to commercial solar energy, is an important piece of the puzzle. Businesses of all sizes can save big.
We’ve compiled the top 3 reasons for businesses to invest in commercial solar power today.
1. Commercial Solar Financial Incentives
It’s true, installing a PV system large enough to meet all your building’s electricity needs requires a substantial investment upfront. But, it may not be as much as you think especially when you factor in the federal, state and local grants, rebates and tax credits. In part by the extension of the federal Investment Tax Credit, the growing adoption of solar among national corporations and the increasing availability of financing for small commercial solar systems, U.S. commercial solar market is expected to nearly triple in size by 2020.
Some companies can save up to fifty percent on their initial commercial solar installation costs with these financial incentives.
And once installed, commercial solar systems will provide power for decades with a substantial savings on electricity bills.
2. Cost Savings with Commercial Solar Power
A study recently by REC Solar revealed the drivers of the decision for businesses to invest in solar. Cost savings and the ability to reinvest energy savings into other business areas are primary drivers. Then followed closely by energy independence and aligning with company values.
In addition to saving money, businesses can also get paid for any unused electricity. Electricity would automatically be exported to the national grid.
3. Commercial Solar in the Spotlight
Any new development within your company can serve as an opportunity to generate announcements, like going solar. Establishing energy independence through commercial solar power is a powerful marketing and public relations tool. Take these businesses in the solar spot light, for example:
Walmart takes top spot among America’s businesses in the electric generation capacity of its solar investments and number of solar projects.
L’Oréal is on target to achieve an 80% CO2 emissions reduction and it plans to achieve 100% renewable electricity for its manufacturing in the US through commercial solar in Arkansas and Kentucky and the purchase of additional renewable energy certificates (RECs).
The list goes on to include: IKEA, Costco, FedEx, Apple, Verizon, Better Business Bureau, Forever, General Motors, Ford, Toyota, Volkswagen, Owens Corning, Intel, Johnson & Johnson, etc.
Businesses across America (big and small) are choosing solar to save energy costs, boost their bottom line and shine the light on their latest branding developments. You can too.
KMB Commercial Solar Energy Services
At KMB, our commercial solar energy engineers make it simple for businesses. Our dedicated team manages the entire PV project from start to finish. This includes planning and design through installation and future performance monitoring. We have provided designs and engineering services for over 600 locations and 550MW for a wide range of solar installations from small scale (less than 10KW) to large scale (over 8MW); clients’ can find the best system that works for them.
Contact us today to find out how to put energy into your projects today!