The world’s leading brands are adapting to alternative energy sources.
Is it because they care about the planet? That’s debatable. But what we do know is that there are dozens of financial gains for businesses of all sizes that utilize solar.
So how exactly can going solar help start-ups?
Here’s how going solar can save your start-up’s cash flow.
1. Long Term Utility Savings
Solar panels reduce and can even eliminate the utility bills of any freestanding business. When you’re starting out, any way you can cut costs and increase output is essential. Why waste what little seed money you have on energy bills?
Solar panels are a smarter way to spend your hard-earned money. Even if you don’t live in a place that’s always sunny, you can use extra batteries to store the excess energy generated during sunny seasons for use during not-so-sunny days. Solar panels are just another way your start-up can practice even more self-reliance.
2. Additional Revenue Stream
As a startup, any way to access money without strings attached is welcomed. Did you know that businesses can sell any extra energy they generate through solar panels back to electricity companies?
It’s smart to have a supply of extra solar energy stored for emergencies and cloudy days. But if you do business in the sunbelt or experience an extra sunny summer, you can actually get paid for the excess energy you generate.
How? The simple explanation is that a “net meter” will be installed to track how much energy you use and when you can release your energy supply to the grid. The net meter will track how much energy you gave over a specific time period and will pay you out for what you provide.
3. The Marketability of Going Solar
Lots of data and research shows that consumers of all types want to purchase from businesses that are mission and value-based. Even if your start-up is a B2B business, other companies want to align themselves with products and services with environmental values.
Most businesses don’t want to polarize themselves by saturating their customers with mission-heavy messaging. Solar panels are a great, subtle way to get the benefits of being mission-driven, without any of the consequences
4. Green Business Tax Incentives
Tax incentives for going solar aren’t only for home solar installation, businesses can profit too. There are both federal and state tax incentives for businesses that use solar energy.
Exactly how much your business will be credited come tax season will vary depending on where you live. The federal government will pay for up to 30% of your solar panel installation costs and state governments are known to credit businesses anywhere from $1,000 to $5,000 every tax year.
In addition to solar-specific tax incentives, using solar panels may also qualify your business for more general green business tax credits and certifications. This depends on if the city and/or state you live in offers a green business program.
Start-Up Savings with Solar
This list only introduces the ways start-ups can save by going solar. In addition to the clear financial benefits for businesses that go solar, is the unparalleled value that solar power can have on a brand.
If you founded a start-up, chances are that values like freedom and independence run deep into who you are personally and as a business owner. Why not go all the way with self reliance by operating via an independent energy source too?
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