Did you know that there are many benefits to installing a solar panel for your start-up company? In this blog post, we will discuss the top five benefits of doing so. Solar panels can help reduce your energy costs, improve your environmental footprint, and much more. Keep reading for more information!
With the constantly increasing demands for electricity, the high cost of oil, and the growing environmental concerns, many businesses are turning to alternative energy sources. In alternative energy resources, solar power is a green option and can be utilized in many different ways. Many companies are making use of this alternative energy source and hoping to reap the numerous benefits.
Solar Panels Can Help You Save Money on Your Energy Costs
The switch to solar electricity is an important step since it is clear that solar power can cut your electric bills by a substantial amount. As per the study, the average business lowers its electric costs by 35%. This is immediately following the conversion to solar power and goes on at this rate throughout the life of the system.
Additionally, you’ll have financial peace of mind by using solar power. If you’re self-sufficient or semi-reliant with solar power, you’ll be protected from the effects of billing spikes and inflation. Dependence on the commercial grid puts you dependent on them for supply shortages or seasonal price rises. Additionally, you’ll be safe from inflationary pressures since electric bills continue to rise each year.
Your private power supply supplied by the sun means you’ll know exactly the cost of your overheads. You’re in charge of cutting your electrical expenses as you’d like. You’ll always be charged the same price except if you decide to increase the electrical burden. Also, you’ll have confidence knowing that you’re protected from price increases.
Solar Panels Are a Great Way to Reduce Your Environmental Footprint
For companies looking to improve their environmental status, solar power is an excellent investment that can significantly lower the carbon footprint of their entire operation and the greenhouse gases they emit. Being a renewable energy source, solar power doesn’t create any harmful emissions or pollution and is, therefore, better for the environment, as well as your staff members and customers.
If your company is looking to show its environmental commitment as part of the social and business sustainable plans, solar PV is an efficient option that can lower emissions and help you save money.
Solar Panels Can Improve the Value of Your Business by Earning the “GREEN” Label
As a business, one of the best things you can do is “Go Green.” Solar panels are an excellent way to show your commitment to sustainability and eco-friendly endeavors. Solar panels help reduce pollution, save water, and protect natural resources.
Utilizing solar power to generate electricity will lead to a reduction in the use of fossil fuels, thus reducing carbon dioxide emissions and pollution. By utilizing this alternative source of energy, every business or organization can show its support for the fight against global warming. It can also reduce the dependence of the country on foreign resources.
Being green does not just cut operating costs but also be a powerful marketing and PR tool. An environmentally-friendly image is beneficial to any business since it will generate positive feedback from customers.
Solar Panels Can Provide a Backup Power Source for Your Business in Case of an Emergency
In the event of a power outage, it is essential to have an alternate source of energy to keep your business up and running. Solar panels can provide backup power in case of an emergency, ensuring that your operations are not interrupted. Solar panel systems can be designed to meet the specific needs of your business and can be customized to the specific needs of your business.
Apart from saving money in overhead expenses, you’ll also get an uninterrupted supply of electricity regardless of the state of the grid for commercial use. In many places, commercial power failures are the norm. If you’re self-reliant with the solar panel system you have installed, you’ll have a stable electrical supply, no matter what happens to your business power supplier.
Solar Panels Can Help You Qualify for Government Incentives
Solar PV systems can be eligible for the SEAI Solar PV grant scheme. The grant amount depends on the system size, with a maximum of €12,000 for a 50kWp system. Solar PV systems can also help you qualify for the SEAI Energy Efficiency Grant, which offers up to €20,000 for energy efficiency measures.
The Sustainable Energy Authority of Ireland (SEAI) offers grants to a variety of firms, both private and public. For more information about the grants that are available for your business, visit this page.
What Is Accelerated Capital Allowance (ACA) and How Does It Help Startup Businesses?
The Accelerated Capital Allowance tax is an incentive program that encourages businesses to invest in technology that saves energy. ACA is based upon the existing Capital Allowance for machinery and plant and only applies to equipment that is energy efficient, such as Solar Panel Installation for businesses in Ireland.
The Accelerated Capital Allowance tax is an incentive program that encourages businesses to invest in technology that saves energy. ACA is based upon the existing Capital Allowance for machinery and plant and only applies to equipment that is energy efficient, such as solar panels.
ACA is founded on a long-running “Wear and Tear Allowance” for capital plant and machinery investments where capital depreciation is refunded by reducing the tax burden of an organization.
In order to be eligible for the ACA, the equipment has to meet these standards:
- The company has to have a presence in Ireland and be paying Irish corporate tax.
- The equipment needs to be bought new (rather than leasing or buying second-hand equipment).
- The equipment should fall into some of the 10 technology classes stipulated in the law including the building management of energy lighting, heating, communication equipment, electricity, and more.
Solar power is an investment option that provides a wealth of benefits for startup businesses. It can provide an income of 5 to 7 years, however, it’s a decision that needs careful evaluation to decide if it’s the most suitable option for your company.
It’s crucial to consider your company’s needs and set the goals carefully to ensure you have all the data you need to make the best decision for your startup company. This is where talking to experts can be beneficial. If you’d like to get more information about commercial solar panels, or have any questions, get in touch with EcoPlex Energy Solutions today, and we’ll be more than happy to help.