How Solar Energy Can Help Your Business in 2024

Commercial solar panels are a smart investment for businesses of all sizes in New England. Solar panels greatly reduce or eliminate electricity costs, and they have many additional benefits for business owners. 

Solar panel installation costs have been steadily decreasing for years, making them more accessible to small and mid-size businesses across the country. Lower prices, combined with solar loans for small businesses and current government incentives like the solar tax credit, make commercial solar panels worth it for most businesses. 

Whether you’re a small business, a non-profit, or a large corporation, solar should be on your mind for 2024.

Why Solar Makes Sense for Commercial Buildings 

Slash Your Electric Bills  

Electric bill savings are the number one benefit of solar energy for commercial buildings. Solar panels work by converting sunlight into electricity so you can power your buildings yourself without having to rely on a utility company. When you produce more electricity than you need, you can sell the excess to the grid and your electricity provider will credit your account. Your credit never expires and you can use it to buy electricity when your solar panels are not producing enough electricity. This is called net metering. 

Depending on the size of your array, solar can either supplement the power you purchase from the grid or replace it entirely. Once you break even on your investment, you’ll be making money off your solar panels. 

Avoid Electricity Price Hikes & Rate Increases 

Inflation is affecting everything these days, especially energy costs. When you rely on a utility for power, you’re at constant risk of a price hike that will jack up your operating expenses. Installing solar panels for your business protects you against rate increases by locking in what you pay for power. Considering commercial solar panels last for 25-30 years or longer, that protection can save you tens of thousands of dollars over the lifespan of your system. 

Reduce Carbon Emissions 

Electricity production is a major contributor to greenhouse gas emissions and climate change. By transitioning to solar energy production for your business, you’ll be actively reducing carbon emissions and contributing to a clean energy future.

Solar batteries can make your commercial solar system even more environmentally advantageous. Solar batteries allow you to store the excess solar energy your panels produce so that you can use your own stored solar energy at night when your panels are not producing, instead of buying from the grid. This further reduces your carbon footprint and makes your business more sustainable. 

Get Tax Incentives

When you install solar panels for your business you’ll qualify for tax incentives. Commercial solar panels are eligible for several incentives, including: 

• Investment Tax Credit (ITC) – A federal tax credit worth 30% of your total solar installation costs. Non-profits are eligible for a direct payment! 
• Bonus Credits – If your commercial solar project meets certain labor and location conditions, you may be eligible for bonus credits that increase the value of the ITC. 
• Modified Accelerated Cost Recovery System (MACRS) – A method of depreciation that allows businesses to recover investments in tangible property over a specified period of time via annual tax deductions. Commercial solar panels qualify for a 5-year cost recovery period. 

Improve Your Brand Image

Solar panels are a great marketing tool that can help position your business as a green and sustainable organization. Many consumers prefer to support environmentally responsible businesses, and a growing number of employees are prioritizing eco-minded and sustainable companies in their job searches. Going solar can help you attract better talent and grow your customer base! 

Commercial Solar Panel Installers in Massachusetts 

Don’t miss out on the benefits of commercial solar panels for your business! Reach out to Boston Solar today to find out if solar will work for your commercial buildings. We are the leading commercial solar installer in New England with over a decade of experience installing high-end, custom solar arrays for buildings of all types and sizes. We can evaluate your business’s energy needs and design a solar array that will offset your electricity costs by as much as 100 percent. 

Make 2024 the year your business goes solar! Call 617-858-1645 or contact us to get started.