Decreasing solar installation costs and increasing incentives are helping businesses throughout Idaho, Utah, Nevada and other Intermountain West states benefit significantly from the sun’s power.
In many cases, businesses can use solar for some or all of their energy needs. Installing a photovoltaic (PV) panel system can be expensive, but is an extremely affordable investment today. In very little time, your solar power system can become profitable for you, and that’s something the power company will never tell you!
Cutting Monthly Energy Bills
Depending upon the nature of your business and your energy requirements, converting to solar power could save you thousands of dollars every month. Businesses with substantial energy costs, such as manufacturing facilities, schools and office parks, have the potential for large power cost savings.
Smaller businesses also can benefit from using solar power. Even if the amount of monthly savings sounds less dramatic on a smaller scale, the potential for harnessing your own free energy is an amazing benefit for any organization.
Tax Credits and Other Solar Cost Savings
Many businesses have delayed making the switch to solar because they fear the initial investment that may be required for system installation. Fortunately, dozens of different financial incentive and tax credit programs are available today to offset this cost.
Some states offer alternative energy rebates that can, based upon the system’s expected performance, reduce the upfront costs significantly. The federal government also offers a sizeable tax credit on the installation of commercial solar power systems. Or, as an alternative to the tax credit, commercial clients can opt to receive a Department of Energy grant.
Other state and local incentives also may be available to help lower initial costs for businesses, and with today’s financing options, your business may have no upfront costs at all.
Profiting from Solar Energy Systems
Businesses that choose to stay connected to the municipal power grid can actually earn money with their PV system. The Public Utility Regulatory Policy Act (PURPA) states that traditional electric utility companies must purchase any excess energy generated from a PV power system. Thanks to PURPA, businesses can recover their initial costs quickly and turn their system into a moneymaker by selling any unneeded electricity back to the power company.
Using the sun’s power to handle a business’s energy needs can result in significant savings, but it can also make the company money as well, contributing directly to the bottom line.
To determine the potential cost savings of converting your business’ power source to a PV system, schedule a free consultation with the experts at Intermountain Wind & Solar today. Contact us to discuss your options and learn more about today’s affordable solar installation costs.