Commercial Solar
Commercial Solar
How Would Reduced Electric Costs Improve Your Business?
Going solar can benefit your business in a number of ways: reduced operating costs through lower electric bills, protection from changing utility rates, and the ability to receive the federal tax credit and become a green vendor to improve your public perception, are just a few. Contact us today to find out even more ways that solar can help your business grow.
Benefits
Benefits of Commercial Solar Power
Solar systems may seem like a substantial investment but once installed, business owners can enjoy significant near and long-term benefits. From reducing your operating expenses to increasing your net operating income (NOI) for a higher return on your investment, installing a solar energy system can yield a significant ROI for your business.
As a business or building owner, you can turn any unused space into something that saves you money and boosts your bottom line with a commercial solar energy system. Adding solar to your business is like having the greatest tenant a landlord could want for a guaranteed 25 years
Commercial Solar Incentives
Because solar power is now less expensive than utilities, you can start saving money immediately and also receive roughly 60% back in tax incentives and rebates. At that rate, you can recover your original solar investment costs in 3-7 years and earn an annualized investment return ranging from 15-25%. Additional solar incentives include:
- New York State Tax Credit
- New York City Property Tax Abatement
- Federal Tax Credit (ITC)
- NYSERDA Rebate
- Bonus depreciation
OWNING VS LEASING
Both purchasing a solar panel system for your commercial property and leasing your commercial space for a solar panel system makes a lot of sense for a number of reasons. Deciding which option is right for your commercial property will depend on several factors, such as expected return on investment, financial circumstances, and purpose of use. Read on to see the benefits of buying versus leasing a Solar System.
Owning Benefits
- Improved property value
- Maximized return on investment
- Guaranteed monthly savings
- Save tens of thousands on future electric bills
- Guard against future electric rate hikes
- Recover up-front investment utilizing existing tax and rebate incentives, if applicable
Leasing Benefits
- No out-of-pocket expense
- No concerns regarding maintenance and servicing of the system
- Immediate reduction in electricity rates and generation of revenue from unused space
- Peace of mind to know exactly what you will be paying for electricity over the next 25 years versus the uncertainty of staying with the local utility
- PR benefit of being "green"