With the looming threat of global warming and climate change hanging over us, people are turning to renewable resources. An article from bp says, “According to the U.S. Energy Information Agency, renewables will be the primary source for new electricity generation out to 2050, and solar energy is the fastest growing power source.”
While we talk a lot about residential installs for solar, the rise is greatly attributed to companies making the transition. One company that recently switched to solar energy is in Plymouth, Indiana’s historic theatre, The Rees. Our team at Green Alternatives handled the solar component of the building’s six-year renovation project. A few key things explain this shift and why your company should consider making the transition too.
Companies want to “go green”
Many companies care about the future of our earth and want to “go green” to sustain their business and reduce their carbon footprint. They also recognize that today’s consumers want to work with environmentally friendly companies. Ninety percent of millennials are willing to pay more for sustainability. Using all-natural products and ingredients, installing solar panels or going paperless are just a few examples of what companies are doing to impact the world and their customers.
By switching to solar energy, you can claim your stake in the fight against climate change by minimizing air pollutants and greenhouse gas emissions. Plus, having an environmentally responsible image is great for PR and marketing.
It’s more affordable thanks to new legislation
In general, solar panels are less expensive than they once were. According to an article in Solar Magazine, installation costs have decreased by over 70% in the last decade. With the Inflation Reduction Act of 2022, solar energy is more affordable and easier to get than ever. The bill introduces tax credits, closing tax loopholes and strategic spending. Commercial and residential projects that use or switch to electric alternatives will get a 30% tax credit until the end of 2034. For larger projects, there is a default tax credit of 6%; however, under certain conditions, you can get an additional tax credit.
A good return on investment
Still, solar panels aren’t classified as cheap by any means. Purchasing and installing them is an investment but a very sound one. This article states that most companies experience a 40 to 70 percent decrease in their electric bill.
Good solar panels last 25-30 years on average and need very few repairs or maintenance. Companies can pay off their solar panels in a third of that time or less. Once paid off, you are essentially getting your energy for free.
Our team can be contracted to complete operations and maintenance services if needed. At Green Alternatives, we take the time to learn about your goals and how solar can improve your business’s financial footing by reducing your carbon footprint. To learn more about our commercial services, visit our website. For questions on our service contracts or solar energy, call us at 765-480-2423, or email firstname.lastname@example.org.