For some business owners, installing solar panels for their company is a big operational decision. After all, time, cost, throughput, and ongoing maintenance of your system can add up. Fortunately, there are many reasons for businesses to install solar panels other than just being environmental friendly. No two businesses are alike, so we’ve put together a list of two obvious and three not-so-obvious reasons why your company should consider going green.
1. Save money on energy costs
While electricity costs can make up a big chunk of a business’ operational costs, many businesses can easily recover the cost of their solar grids within five to seven years. You can better determine your electricity cost savings and the power generated from solar after you have run your system for a while.
Equally as important, going solar ensures that you are free from fluctuating electricity costs which will help you save money every year.
2. Earn the “Green” label
According to the USGBC (U.S Green Building Council), buildings are responsible for 40% of the entire carbon footprint in the U.S. Wouldn’t it be nice to not only contribute to the environment but also be known as a socially responsible business? It’s also interesting to note that customers tend to reward businesses that are socially responsible and make eco-friendly decisions.
Going solar can market your company as one that cares about the community, adding to the positive image of your brand while encouraging your customers to choose you over your competitors.
3. Get a good return on your investment
The payback period for a medium-sized system is around 10.5 years, which still leaves you 14.5 years to not worry about electricity bills. Government investments and decreased cost of equipment make solar installation a solid investment, so relying on solar energy for your power needs means you can save a consistent amount of money each week, month, year, etc.
Additionally, having a solar grid installed for your business is a good way to increase its market value. A solar power system does not increase your property taxes as any other modification would do. If you decide to move your business elsewhere or simply sell the building, you will be able to price it higher and receive a better return on your investment.
4. Support the local economy
Being a socially responsible business can mean a lot of things. This role can include how you give back to the community and how you take care of the people within it. Solar installation is an on-site job and the people installing these systems typically belong to the local community. This means that an increased demand for solar projects in the area will result in more availability of well paid jobs in the solar installation sector.
Depending on what you sell, another upside is that these workers will interact with your business directly and will become more informed about the products and services you provide, resulting in potential future customers. It’s a win-win for everyone.
5. Boost employee morale
Employees feel connected to their companies and are affected by operational decisions. They share the successes and the failures of a business and can feel satisfied with sustainability-related decisions. Research conducted by the Ateneo Center for Research and Development (ACORD) concluded that businesses that care about their environment and community have less employee turnover.
Many people are environmentally conscious nowadays. Your business being solar dependent may not be a huge factor that weighs in when someone decides to join your company, but it can be something that resonates with their personal beliefs and makes their commitment to your business a little stronger.
The Solar Investment
As you can see, going solar can be a good decision for your business in both the short and the long run. It’s a great capital investment, it contributes to a healthier image of your company and it saves you on operational costs.