4 Reasons Businesses Should Consider Going Solar

Entrepreneurs recognize the importance of making smart decisions for the growth and success of their businesses. Each choice plays a critical role in shaping a company’s future, but few provide that elusive win-win opportunity. Enter solar energy systems! Solar power is a unique win-win option for business owners that offers countless benefits. Here are just a few of the many reasons to invest in producing your own sustainable energy.

30% Tax CrediT

Thanks to the Solar Investment Tax Credit, businesses that switch to solar through the end of 2022 are eligible to receive a 30% federal tax credit (announced August 2022). This is a dollar-for-dollar reduction in the income reported to the government when you file.

Another tax-related benefit of going solar is taking advantage of accelerated depreciation. The Modified Accelerated Recovery System (MACRS) allows business owners to deduct the cost of your solar installation from your taxable income over a period of 5 years.

Add Value To Your Business

In many cases, switching to a solar energy system results in an increase in the value of your commercial property. There are many factors involved in determining if this is the case for your business, including property ownership, location, and type of business. In many cases, pivoting from reliance on fossil fuels results in an uptick in property value.

Social Appeal

High-quality solar panels make a visual statement to your customers that your company cares about sustainability and social responsibility. This positive initial impression can build confidence and connectedness with your current and potential customers, many of whom are likely to use their purchasing power to promote progressive, meaningful environmental impact. Stand out from the competition by making a positive social and environmental impact.