3 Benefits of Commercial Solar Panel Installation in Phoenix AZ
Solar energy has many benefits, which is why more and more commercial businesses are going solar. In Arizona, it’s a complete no-brainer. The significant drop in the price of solar panels is one reason for the increasing popularity of solar energy. But the financial, environmental, and other benefits play a key role in making solar panels an easy choice for commercial building owners. In this article, we will discuss 3 benefits of commercial solar panel installation in Phoenix AZ. Enjoy!
Financial Benefits to Your Commercial Solar Panel Installation Cost
Solar Savings on Electricity Bills – Solar panels save businesses a lot of money on electricity bills. With the continual rise of electricity rates, being able to offset your electric bill by up to 75% is a huge deal for any business owner. And since solar power is a renewable source of energy, your savings could add up to significant amounts over time.
Also, as electricity and other utility bills keep on rising due to inflation, users of commercial solar panels are not affected as they produce their own electricity. This is an excellent way to hedge against the volatility of electricity prices and inflation, which makes budgeting and future planning significantly easier, too.
Even with the initial outlay of purchasing the commercial solar panel system outright, or financing it over time, businesses often see a positive return on their investment within only 3 to 5 years!
Not only will you benefit from lower electricity bills and more controlled energy costs, but you can also take advantage of excellent tax credits and incentives that make going solar even more attractive.
Solar Tax Credits – With the Federal Investment Tax Credit for Solar, commercial businesses can claim 30% of the investment against their annual taxable income. Only commercial businesses with newly installed solar panels are eligible for this, which greatly reduces the installation cost of commercial solar panels.
Commercial businesses can also deduct their solar panels’ depreciation expenses from their taxes for five years by using a Modified-Accelerated Cost-Recovery System (MACRS). The good news is, MACRS can be combined with ITC. As the ITC percentage will eventually be reduced, the MACRS percentage will increase helping businesses to write off more from their solar panels cost.
Commercial businesses can also claim State Investment Tax Credit for their newly installed solar panel system. This ITC percentage is given by the states, and thus, is dependent on the location of the business.
And lastly, there’s an additional 10% tax credit available if US-made solar panels are purchased. Ideally, we keep our money within our own economy anyway, and this is a great incentive to do just that.
Environmental Benefits of Solar Panels:
The environmental benefits solar panels bring to the table are enormous. Solar energy is a great alternative to natural resources to produce electricity. When a business starts to use solar panels, they stop using coal, and natural gasses which are commonly used to create electricity. So, a business can reduce its carbon footprint the moment it installs solar panels.
Also, as more and more businesses are trying to meet sustainability targets, solar panels are one of the easiest ways to do that.
Plus, customers also like businesses that are eco-friendly and concerned about the environment. Solar panels produce green energy that can influence more customers to choose your commercial business over other competitors.
Nonetheless, solar panels are free from creating any pollution. So, employees can work freely in a great work environment. Surveys have shown that employee retention is stronger with businesses that show they care about our environment through the use of solar panels and other green initiatives.
Energy Resiliency and Control over Electricity:
Uninterrupted electricity is very important for any business. Companies that use electricity from their local power grid can sometimes face power cuts and blackouts causing their business to halt for a moment. Installing solar panels can help commercial businesses to enjoy nonstop electricity. They are not completely reliant on the local power supplier any longer.
This was especially important for Cowley Companies, whose large-scale 24/7 refrigeration warehouse consumed a lot of electricity. After installing a 1.5 megawatt solar panel system, containing over 7,000 rooftop solar panels, Watt Masters was able to provide Cowley Companies massive savings on their overhead.
In addition, Watt Masters has installed several commercial backup generators to provide the ultimate protection for your business in the event that an extended power outage should occur.
Wrapping things up...
It is important for any business to make a profit out of all its activities. Solar panels not only save them money, but also help them meet their environmental goals, attract more customers and retain good talent.
Be sure to consult with only an experienced commercial solar installer who can help you to determine if solar is a wise investment for your business, then can help you to create a plan to install solar panels that are fitting and beneficial for your business.
To learn more about commercial solar panel installation in Phoenix, AZ or any surrounding cities, give the friendly and helpful team at Watt Masters a call ASAP! We are one of the most experienced commercial solar companies in Phoenix, AZ since 1999.
We have successfully completed several types and sizes of commercial solar installations throughout Arizona. From rooftop solar on small businesses or office suites to multi-megawatt systems for large industrial applications, solar carports for apartments and parking lots, to pole or ground-mounted solar arrays.
Our experienced team is happy to answer all of your questions, and evaluate your costs to ensure solar is a smart investment for you, and our team of expert engineers can help design the perfect solar panel system to benefit your business.