The success of your business depends on the investments that you make in it. Investments that deliver fast returns enable your business to grow with additional revenue. Solar power for business property provides an environmentally sound way to invest in your business now and in the future.

Solar Power Generates Revenue for Your Business

Businesses of all kinds have certain utility requirements that account for a substantial part of their overall costs. A solar power system can reduce or eliminate electricity bills for your business, freeing up revenue for continued growth.

Most businesses are able to offset their entire electricity costs with net metering. This arrangement with your utility company enables your solar power system to send excess electricity to the grid during the day in exchange for credits toward your electricity use at night.

Most states have net metering arrangements with state-approved utility providers. Net metering enables your solar power system to pay for itself quicker, and your business will enjoy reduced energy costs for years.

Investing in Solar Power for Business Property Is Easy

Investing in solar power for your business can provide considerable returns over the lifetime of your system. Some companies don’t have the necessary capital to purchase their system outright. Fortunately, there are flexible financing options available that enable your business to quickly turn a profit.

As with most other investment opportunities for businesses, there are conventional loans available to fund your solar power system.

There are also several arrangements unique to solar power for business property.

An alternative option is a power purchase agreement, which involves a partnership with a third party that owns and operates the solar power system on your property. Your business then purchases electricity at a discounted rate, providing considerable savings without any upfront costs at all. There are multiple funding options available that your business can explore.

Reduced Operating Costs Ensure Continued Profitability

Depending on the option that you choose for your solar power system, you might not have any operating costs to worry about.

If you own your system, the costs to maintain solar power systems are inexpensive and relatively straightforward. Preventive maintenance requirements are low, and the major components of your energy system—panels, inverters, and racking materials—are durable and long-lasting. The savings from electricity will more than offset these costs and provide consistent profit for your business.

Solar Power Offers Multiple Ways to Accelerate ROI

There are many investment opportunities out there to choose from. Solar power for business property is one option that provides multiple opportunities to accelerate your business’s ROI. They not only enable your business to achieve a faster return on your investment, but your business will also continue to save on electricity long after the initial payback period.

Along with the energy savings provided by your solar energy system, your business will benefit from a range of incentives for investing in solar power. When you invest in solar power, your business will be able to claim accelerated depreciation on your investment, which accelerates the timeline in which you achieve ROI.

Most assets are depreciated over the course of their useful life, and businesses can claim tax deductions accordingly. Properties with solar power systems benefit from a special five-year cost recovery period, even though their useful life can range from twenty-five to thirty years. This accelerated schedule enables your business to claim these tax benefits much sooner and put them toward more investments.

Along with the accelerated cost recovery period, solar power systems also have various federal and state tax incentives. The federal income tax credit for solar systems was 26% but has been extended at 30% through 2032, and many states also have attractive benefits, such as renewable energy credits. When your business combines these incentives, your solar power system will have paid for itself in a relatively short period of time.

Discover How Solar Can Benefit Your Business Now

Solar power is an investment that is accessible to most businesses. It has both a short payback period and long-term financial benefits.

If you are interested in solar power for your business property, you can trust the experts at Geoscape Solar to engineer, finance, and install your project. The team has over 100 years of combined experience with commercial solar projects.

At Geoscape Solar, we help businesses utilize solar energy for profit. Your business will become energy independent, be able to decrease utility costs, and leverage available solar incentives for a quick ROI.

To discover how installing solar energy on your property will increase your business profitability, contact one of our energy specialists!