It’s no secret that the commercial market is extremely competitive – so anything that gives your business an edge over others should be welcomed with open arms. That’s why several large corporations have made the cost-effective decision to go solar – and quite a few more small and medium-sized companies are following suit. As this change to renewable energy gains traction and popularity, numerous practices are being put into place to make it a more viable and universally affordable option.
Solar energy is all about the return investment – although initial costs might seem steep, they’re designed to pay off in the long run. It’s estimated that businesses typically pay off their solar panel purchase and installation fees in roughly three to five years, on average. Afterward, they get the benefit of enjoying free electric supply for the duration of their solar system. According to a recent report published by EnergySage, the average commercial property owner should save about 75 percent in overall energy costs. Given rising utility prices, this comes as no surprise.
The power purchase agreement, or PPA for short, represents a more consistently priced financing option, which means no longer relying on erratic power fluctuations and unforeseen outages. According to a standard PPA, the solar provider makes a preestablished agreement with the customer to supply energy at a fixed rate for an extended period of time, say 15-20 years. This plan particularly benefits non-profits, allowing them to harness long-term energy savings. What’s more, it allows these kinds of institutions to rebrand themselves as more progressive, environmentally conscientious, and renewable – all qualities that potentially attract a broader base of prospective clientele.
Owners of newly installed solar systems are eligible to receive a federal tax credit equivalent to 30% of all solar system costs. So, all in all, implementing a solar system could financially incentivize your business, producing more than enough savings to outweigh conventional power methods.
The REP Solar management team has over 100 years of combined experience in electrical construction, engineering, including business management and construction real estate financing. REP Solar stays focused on clients needs by listening carefully to their needs then using our core strengths to exceed expectations. To learn more, contact Renewable Energy Partners at 1-855-519-6633 ext. 1001 or use our Contact form located at https://renewepi.com/contact/