Is your company considering a switch to renewable energy sources? Well, that's a great idea!
Whenever our team assesses a company's needs and goals, we may find that other sources -- maybe wind or hydro energy -- might be a great fit to produce the best results. But for now, let's talk about why solar energy is a crucial piece of microgrids for many companies.
1. Having control over your own energy production
One of the benefits of solar energy (and all privately owned renewables for that matter) is having full control over your energy production.
Taking your company off of the public grid is good in many ways. After all, private energy is reliable energy. With the introduction of its own solar grid, your company will find benefits such as decreased power outages and more reliable production overall. The last thing you want to deal with in the middle of a business day is your public energy company trying to explain why your $30 million facility is out of power for the next 8-10 hours.
On the public grid, energy rates also vary depending on the time of day due to more people accessing electricity. When a company invests in its own grid, the worry of variable rates is put to rest. Instead, our team of data analysts, equipped with our very own GridCare Technology, will constantly be measuring your usage to make sure your efficiency is high and your costs are always at their lowest.
2. Producing clean, renewable energy
The environmental impact of solar energy is significant. Solar is a clean, emissions-free, and renewable energy source. Obviously this means that solar doesn't release any harmful pollutants or greenhouse gas emissions into the air or water supply.
It is estimated that solar adoption by large companies can prevent $167 billion in health and environmental damages and save more than 25,000 lives thanks to a downturn in pollution, according to energy.gov.
Reducing your carbon footprint, especially if you're doing over $1 million per year in energy costs, is not only a great look for your company, but a truly beneficial action for the environment. Quite simply, renewable energy technologies like solar are the key to a cleaner and brighter future for everyone.
3. Increased property value
At the end of the day, renewable sources like solar grids are assets that raise the overall value of your property. Whether you're a single-family home or a multi-million dollar manufacturing plant, solar panels give you an extra increase in value. When it comes to something like a single-family home, solar panels raise value by roughly 4.1% on average. A large scale facility is estimated to gain value upwards of 5-6%.
Obviously it's hard to pin an exact number on value when every facility (or home for that matter) is so incredibly unique. However, studies have shown an average increase in resale value between $4,020 and $5,911 for each kilowatt of solar panels installed on a property.
4. Tax breaks & cost reduction
Here is the part that most business owners love to hear about. Again, with the varying sizes of installations, it would be hard to give a catch-all number on how much you can save when generating your own electricity. Our team will give you a better idea of what your costs and savings will look like. If you had to take any number away from this article, we can tell you that EnergySage market data estimates in general that companies could save up to 75% on their total energy costs when switching to renewable sources.
But in general, producing your own energy through solar is going to ultimately be saving you quite a bit of money, especially if you're in the range of doing over $1 million in energy expenditure per year.
Another monetary benefit comes in the form of tax benefits. Now with different companies and different assets, there are a quite a few different routes that can be utilized here. Some of these include:
Solar renewable energy credits
Federal Investment Tax Credit
State Tax Credits and Cash Rebates
Various Tax Exemptions
Yes, there are a lot of avenues to save your business money here. Our promise has always been to reach, and hopefully exceed your financial goals.
5. Increased energy efficiency & a burden off of your back
As we made slight mention of before, we don't just sell solar grids (or any microgrid for that matter). At GridSwitch, your switch to renewable sources like solar include full 24/7 portfolio management and constant data monitoring to make sure your assets are running as efficiently as possible. This won't be a situation where we dump solar energy assets onto your business and never speak again.
When you make the switch to solar, you have a team controlling it for you, leaving your company to focus on what matters most.
How about a free consultation to talk about what we could do for your business. It couldn't hurt, right? Click here.