5 reasons why companies go green with solar panel installations
Installing solar panels for their businesses is a major operational decision for some entrepreneurs. After all, time, costs, throughput and continuous maintenance of your system can add up. Fortunately, there are many reasons for companies to install solar panels, except that they are only environmentally friendly. No two companies are alike, so we've compiled 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 large portion of a company's operating costs, many companies can easily recoup the cost of their solar panels within five to seven years. You can better determine your electricity cost savings and solar power generation after using your system for a while.
Equally important, solar energy keeps you free from fluctuating electricity costs, saving you money every year.
2. Earn the "Green" label
According to the USGBC (U.S Green Building Council), buildings account for 40% of the total carbon footprint in the United States. Wouldn't it be nice to not only contribute to the environment, but also be known as a socially responsible company? It is also interesting to note that customers reward companies that are socially responsible and make environmentally friendly decisions.
Going solar can market your business as a community-minded company, contributing to the positive image of your brand and encouraging your customers to choose you over your competitors.
3. Get a good return on your investment
The payback for a medium-sized system is about 10.5 years, leaving you with 14.5 years left to not worry about electricity bills. Due to government investment and lower material costs, solar installation is a solid investment, so if you rely on solar energy for your power needs, you can save a consistent amount every week, month, year, etc.
Moreover, having a solar panel for your company is a good way to increase the market value. A solar power system does not increase your property tax like any other change would. If you decide to move your business to another location or just sell the building, you can get it priced higher and get a better return on your investment.
4. Support the local economy
Being a socially responsible company can mean many things. This role may include how you give back to the community and how you care for the people in it. Solar installation is a task on site and the people who install these systems usually belong to the local community. This means that increased demand for solar energy projects in the area will lead to more availability of well-paid jobs in the solar installation sector.
Depending on what you sell, another benefit is that these employees will communicate directly with your company and be more informed about the products and services you provide, resulting in potential future customers. It is a win-win for everyone.
5. Increase employee morale
Employees feel connected to their companies and are influenced by operational decisions. They share a company's successes and failures and can be satisfied with sustainability decisions. Research conducted by the Ateneo Center for Research and Development (ACORD) concluded that companies that care about their environment and community have less employee turnover.
Many people today are environmentally conscious. The fact that your business depends on solar energy may not be a huge factor that comes into play when someone decides to join your business, but it could be something that resonates with their personal beliefs and their dedication to your business a little stronger makes.
The solar investment
As you can see, solar energy can be a good decision for your business in the short and long term. It is a great capital investment, it contributes to a healthier image of your company and you save on operational costs.