Between the continuous effects of global warming on the planet and the steadily rising costs of energy, there’s never been a better time for homeowners to do their part to help the environment.
There are plenty of ways to go green at home to reduce energy costs, but one that’s gained in popularity in recent years is solar power.
What is solar power you ask? Quite simply, it’s energy that’s harnessed from the sun. It’s harnessed through solar panels, which turn the sun’s energy into electricity for the average home owner and this can also be used to power buildings.
Currently there are more than a million solar installations across the United States, with a cumulative capacity of over 40 gigawatts. It’s estimated that just one megawatt of electricity can power 164 homes. North Carolina is currently ranked second in the U.S. for solar panel installation and there are plenty of benefits for North Carolinians to visit a solar panel installer nc and convert to solar energy for their homes.
The upfront cost of installing a solar panel can be pricey, but the long term benefits are worth it. Solar energy is the most abundant resource of energy on Earth and there are plenty of tax rebates and incentives available for homeowners and business owners who want to install them.
If you’re a North Carolina business owner who wants to help the environment, here are three reasons to visit a solar panel installer nc and invest in solar panels:
- Incentives: There are incentives available at the federal and state levels to help ease the initial cost of a solar panel system. One example is the Investment Tax Credit, which allows businesses to install a solar panel system for a 30% tax credit. There’s no limit to how many a business can have installed, so if you’ve a business complex for example, you could have one or more installed on each building.
As if that wasn’t enough, many states have a metering policy for solar energy, which means business only have to pay for the energy they use. Through the use of solar panels, business can store the energy they don’t use and use it in the future, which can be useful for future energy bills.
- Depreciation: Government incentives are very helpful for solar panel installation, but business can also speed up paying for such a system through the Modified Accelerated Cost-Recovery System (MARCS). This allows a company to get cash flow from a solar panel system for let’s say, 20 years and the value of the system is taken out of gross income over five years. This results in lower tax liability for that company over that five-year period.
- Lower Operating Costs: Solar panels can lower operating costs for many North Carolina business owners. While companies may pay a lot up front in the installation cost, over time, the money a company will save from reduced utility bills will pay for the system down the line. When it comes to commercial properties, building owners who install solar panels can reduce operating expenses and then pass those savings on to tenants. Ultimately, solar panels can have three benefits when it comes to lower operating costs:
- Keeping lease rates for tenants at a reasonable rate
- Higher levels of occupancy.
- The ability for companies to maintain good profit margins with lower operating costs and high occupancy.
The cost of solar panels can be initially high for companies wanting to go green. But over the long run, multiple tax incentives, reduced operating costs and accelerated depreciation are just a few of the reasons a business should consider investing in a solar power system.
By visiting a solar panel installer nc, companies can work with the installer to create custom solar panels and custom solar designs that will meet a company’s needs.
The same is true of residential solar energy. There are plenty of benefits to visiting a solar panel installer nc and having a residential solar panel installed. You’ll be doing a great service to the environment and though you may pay a high cost upfront, over time it will pay off in the form of reduced utility bills.