Just like residential homeowners, businesses of all types and sizes are turning to solar power for their energy needs, taking advantage of rapidly decreasing solar equipment prices and trying to offset skyrocketing electricity costs. 

Data from Solar Energy Industries Association annual Solar Means Business report show that major U.S. corporations, including Target, Walmart and Apple are going solar at an incredible rate. 

For businesses and corporations, solar power is not only a means to reduce costs, it’s also a way to show their “green” in today’s pro-environmental society. 
“To leading companies across America, deploying solar is a common-sense business decision,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA). “Large corporations have found that going solar not only benefits the environment, but also their bottom-line, satisfying both shareholders and customers alike.”

Always looking at their bottom line, entrepreneurs see the installation of solar panels as a good investment, one with rebates and incentives. 

Financial gains

Similar to residential systems, commercial solar installations can offset their out-of-pocket costs by taking advantage of the Federal Investment Tax Credit, where business owners get a 30% federal tax credit for the cost of the system. Your individual state may also offer other incentives or rebates.

There’s also accelerated depreciation, which allows businesses to deduct 85% of the value of the solar asset from their taxes.

And there’s also net metering, where both homeowners and businesses receive bill credits for the excess electricity that their solar panels produce. In California, this is allowed as long as the system is less than 1,000 kilowatts (1 MW). 

In addition, think of the money you’ll save on electricity. Utilities are a huge expense for businesses of any kind and size. Depending on the size of your solar system, you could be offsetting all or almost all of that cost, reducing your overall operating expenses for years and even decades to come.

Once installed, a solar power system will require little or no maintenance at all. The system will provide electricity quietly and cleanly for 20 to 25 years. 

Together, these incentives can significantly and greatly enhance financial returns for system owners over the life of the system.

To find out how much a solar power system for business will cost, you can access the Hahasmart price checker that provides you with an estimate of equipment and installation costs for a solar power system that meets your energy needs. They’ll even help you contact a reputable solar installer in your area. 

But money is not the only upside for businesses that decide to go solar. There are less tangible, but equally important contributions to the bottom line.

Customer attraction

For one, many of today’s current and potential customers are attracted to businesses committed to renewable energy. A 2014 Nielsen study found that 55% of online consumers across 60 countries said they are willing to pay more for products and services provided by companies committed to positive social and environmental impact.

Employee retention

Another aspect is employee retention. Millennials and other workers want to work for sustainability-minded companies. It could be a good selling point when trying to attract talent or trying to keep the employees you already have. In a survey by Net Impact and Rutgers University, 51% of respondents said society improvement was a vital part of their dream job.

Even more telling, a 2010 study by Forbes revealed that 66% of workers would quit their job if they believed their company’s actions harmed the environment.
Picking a local solar installer for the project also increases jobs in your community and those workers could be or become your future customers. 

Free publicity

Installing solar panels on your business gives you a way to promote your company and raise awareness about the products and services you offer. It also provides you with a great public relations and marketing tool to raise your profile through free publicity in the media.  

Such recent examples include Disneyworld that in February announced the debut of a massive new 270-acre, 50-megawatt (MW) solar facility providing renewable clean energy to Walt Disney World Resort. Starbucks also did its part with a 10 MW in Texas providing sufficient electricity to power 360 of their stores in the Lone Star state. 

Walmart, Target, Apple, Ikea and other Fortune 500 have also touted their renewable energy acumen to the joy of shareholders and customers alike. 

An advantage over competitors

Also, if you’re in a highly competitive industry, raising your “green” profile can also give you an edge, allowing you to stand out from the rest of other businesses offering the same products or services. 

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