Leverage the Advantages of Solar Energy with the Help of Technological SynergiesFebruary 24, 2021
One of the biggest overhead costs facing entrepreneurs is the electricity bills.
Being dependent on a commercial power grid also implies that you will be subjected to electric rate fluctuations. A sudden increase in costs can add uncertainty to your enterprise, particularly to your cash flow management. Probably it is high time you lessen the load and find a way your business might benefit from solar power installation.
Basically, solar power panels are becoming mainstream alternative sources of energy in the US and other parts of the world. You have probably heard that Fortune 500 companies like Intel and Walmart are switching to solar energy. At first, you may not think this energy alternative is affordable for medium or small-sized businesses, but in reality, solar power guarantees some of the following advantages:
- Tax Breaks
Most people invest in solar panels because of the availability of local, federal, and state tax breaks. For instance, the federal solar tax credit can offer you dollar-for-dollar reductions against federal income tax. The tax reduction equals 26% of the total cost of the solar energy panels you choose to install.
This benefit will exist through December 31, 2022, and in 2023, the tax shall go down up to 22%.
- Resilience and Reliability
Solar energy is less prone to large-scale failure because they are modular and distributed. Modular systems consist of many solar arrays, while distributed systems are spread out across a big geographical area, so a serious weather event in one place may not cut off power to the whole region.
This may as well mean that even if a few machines in the system get damaged, the rest will continue to function as usual. If you also want to establish your real-time maintenance management, CMMS report examples like UpKeep and eMaint can allow you to handle important tasks, including asset lifecycle monitoring, inventory management, and work order processing.
- Applicable Everywhere
Provided there is sunshine, you can deploy solar energy anywhere. This is important, especially in remote regions without access to other sources of electricity.
You can also deploy independent solar systems in remote regions so as to improve the lives of millions of individuals. In addition, solar energy can power boats and spacecraft.
- Fulfill Social Responsibility
Even though a few individuals prefer not to see it, many people in the United States and worldwide understand the importance of cutting carbon emissions. With climate change, oceans are also rising and warming up, while the sea ice is vanishing. People need to make a difference, and even the main power sectors have started to embrace greener living.
By installing solar panels, you can choose a regional provider and use various kits and chargers, which are readily available today.
- Economic Savings
The production of renewable and green energy from the sun may significantly reduce the costs since it is an inexhaustible source, which is not subjected to market fluctuations and effects generated by mere speculations. Like other investments, getting solar energy panels need initial capital, which is offset by a rapid amortization.
However, the investment is a continuous and unlimited energy source, which doesn’t need usage costs or additional maintenance. With an EAM, maintenance technicians and managers may easily assess real-time asset data during every phase of the lifecycle, allowing decision-making when it comes to replacement time and machine repair.
- Low Maintenance Cost
Once installed, you can maintain your solar panel for as little as $250 every year. In addition, businesses offering solar panels normally provide warranties that can further reduce the costs.
Solar panels may also help both individuals and companies keep electricity bills low. You will only need to use a traditional electricity source during months when hours of sunlight are restricted or when the sun is not out.
The Bottom Line!
Technological developments in green energy are something which companies globally heavily invest in.
Today, most companies are convinced that renewable technology is the future of the energy sector. You can also be part of it to leverage this technology’s power by investing in solar panels.