The Benefits of Commercial Solar Panels
Conscientious businesses relate with customers who appreciate seeing their values reflected. Now that investors prefer businesses with a strong commitment to ESG, solar panels can help prove to those investors that your company also cares about the impact it has on the environment.
Commercial solar panels offer a stable resource for energy in the case of natural disasters, especially in areas prone to blackouts or thunderstorms. Most solar panels can be adjusted for more or less usage based on your company’s needs. Furthermore, professionally installed and well-maintained solar panels can last for decades, making them a solid investment for your business.
If your energy bill was cut in half, how much money could you save? Solar panels can save money by cutting your electricity bill down, depending on how much you rely on the panels. In addition, your state, county, and even city might offer different tax breaks every year for homeowners with a functioning solar panel system on their property.
Federal Tax Credit
In December 2020, Congress passed an extension of the ITC, which offers a 26 percent tax credit for systems installed between 2020 and 2020, and 22 percent for systems installed in 2023. This credit is set to expire in 2024 unless it is renewed again. There is no maximum amount that can be claimed. While installing solar panels comes with a price tag, the federal government is willing to offset some of the cost.