Are you the owner or operator of a manufacturing facility? If your electricity bill makes up a large part of your operating expenses, it’s time to look into renewable energy sources to power your business. A large, flat warehouse or factory roof is the perfect site for a solar panel system. Turn your unused rooftop space into a money-making asset.
No matter where your facility is located, the price of energy is rising. That is why many manufacturers are implementing energy efficiency measures to increase profit margins. These include solar panel systems and energy storage batteries for use during peak operating hours. While there is an upfront cost to install solar power, the long-term savings on energy bills are often hefty. Solar panels have a lifespan of 25 years or more, providing stable and predictable energy costs for many years to come.
Active incentives make the switch to renewable energy even more lucrative:
The Federal Investment Tax Credit (ITC) is for commercial solar installations throughout the United States. It allows businesses to claim a tax credit of 30% (and up to 60%) of a total solar installation cost.
Through the Inflation Reduction Act (IRA), the Department of Agriculture (USDA) has received more than $1 billion in grant funds for energy-efficient projects. Agriculture producers and small businesses located in rural areas qualify to apply. Awarded grants can cover up to 50% of the cost of a solar installation, capped at $1 million per project.
Local utilities, municipalities and individual U.S. States often offer their own incentives. Renewable energy programs and timeframes change over time. A solar energy expert can put together the best incentive package for you.
Besides offsetting high energy costs associated with manufacturing, solar energy has other benefits to businesses. Solar energy initiatives contribute to a company's reputation and ESG initiatives. Consumers and investors are prioritizing companies that take steps to lessen their environmental impact. Businesses that take steps to minimize their carbon footprint will see an increase in their bottom line.
The cost of everything is rising and there is uncertainty in the economy. Renewable energy can keep your operating costs down and your competitive advantage up.
Smart Roofs Energy is a turnkey solar energy company. Solar power gives companies control over their electric bills. Offerings include rooftop solar PV, carports, ground mounts PV, solar farms, and more. Reach out to find out how much you can save.