How Can Businesses Benefit from Commercial Solar?

Commercial Solar

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There is a growing push for many businesses to become greener in their operation. One of the biggest ways that businesses do so is to cut their fossil fuel reliance by implementing commercial solar. For many business owners, the thought of getting a commercial solar installation can be intimidating, but when weighed against the possible benefits, having a professional solar installation for your business is looking smarter every day.

How Can Businesses Benefit from Commercial Solar?

There are several ways that businesses can benefit from commercial solar equipment, and while this list won’t cover all of the perks, it does cover some of the most common and most financially substantial.

Correctly Evaluate Power Usage

One of the biggest benefits is that it can give you a much deeper understanding of the power demands of your business. You may be surprised how many business owners simply pay their power bills without knowing how much power the business uses in an average month. This understanding comes from the in-depth analysis of your power usage during the initial consultation.

Power Usage Can Be Offset As Much As Possible

During the consultation and system design stage, the commercial solar system for your business will be optimized for both size and cost. There is no point in paying for a larger system that will produce more power than you can use, but investing in an undersized system is an equally pointless waste of money.

Your system will be designed to be exactly what your business needs, just like when residential systems are designed. The system will be tailored not only to the power needs of your business but also to the physical space and area available for installation.

Tax Benefits

There are significant financial benefits to the business in the form of tax cuts, refunds, and other incentives that may be available at the time of installation. The biggest tax incentive currently is the federal investment incentive which can provide a tax credit of up to 30% of the cost of system installation.

There is also the MACRS incentive, which provides an accelerated depreciation schedule for solar equipment, which provides a variable benefit based on the cost of the system. Additionally, the recently adopted updated tax code may provide business owners with an additional tax cut of 10% or more of the system’s price.

Rapid Payback

Depending on the final cost of your system, you can expect payback of the initial investment, in power cost savings, often in less than five years. This means that the money you save by not buying most of your power from the grid can equal the cost of your entire system in just a few years. From then on, it’s all return on your investment.

Substantial Cash Flow Improvement

For many businesses, the purchase won’t be in a lump sum, it will be financed over time. This means that it won’t take a significant initial investment, but it can drastically reduce energy costs from day one, making more of your cash available by reducing or even eliminating your monthly power expense.

Make Sure Your Solar Installation Is Done By The Best

With the growing popularity of solar installations, the number of companies popping up with zero reputation and skill is rising daily. Make sure you get the most out of your installation by ensuring that a local expert and leader in the solar space is the one to complete your installation. Reach out today to discuss your needs with a member of our commercial solar team.

Solar panel systems are made of durable tempered glass and require little to no maintenance for the 25 to 35 years that they will generate power. In most cases, you don’t even need to clean your solar panels. You can let the rain or snow take care of that for you. If something does happen, you will have manufacturer warranties on all equipment installed by Barrett Solar.

Solar rebates and incentives vary depending on where you live. In Kansas the largest incentive available is the 26% federal investment tax credit (ITC) which allows you to deduct 26% of the cost of your solar energy system from your taxes. Certain municipalities and utilities also offer cash rebates and other incentives. If you are a business in a rural area or a farmer, the USDA offers grants as well.

Solar rebates and incentives vary depending on where you live. In Missouri the largest incentive available is the 26% federal investment tax credit (ITC) which allows you to deduct 26% of the cost of your solar energy system from your taxes. Certain municipalities and utilities also offer cash rebates and other incentives. Evergy in Missouri, Columbia power and Ameren have notable rebates available. If you are a business owner in a rural area or a farmer, the USDA offers grants as well.

Barrett Solar offers two options to finance your solar panel system. You can purchase your system in cash or take advantage of our zero down, low APR financing options. We have a lot of different options to choose from. 

Generally it takes very large hail or a major storm to damage your solar panel system. After you go solar you will want to make sure your homeowners insurance policy has enough coverage to replace any of your panels that may be damaged in a heavy storm.

The cost of a solar panel system will depend on many factors, including the size of the system, the equipment, and the financing method. A solar panel system should be viewed as a major home upgrade, and because every home is different it is never good to base an idea of what something should cost off a ballpark figure found on the internet. Barrett Solar offers completely free no obligation solar proposals, and in most cases we can give you an accurate quote with just your historical energy usage data.

Tyler Blanchard

Founder & CEO

Tyler is the CEO of Barrett Solar.

There Has Never Been a Better Time to Go Solar

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