New Energy Insights Blog

Harnessing Solar Power: The Economic Imperative for Modern Businesses

By: Bridget Petersen

Can you afford to ignore the significant financial benefits that come with adding solar to your business’s roof? In an era of increasing environmental consciousness and fluctuating energy costs, businesses are seeking sustainable solutions to power their operations. Embracing solar energy is no longer a cutting-edge solution, but is soon to be an operational imperative for businesses that hope to keep up with their respective industry Jones’.  Those who cannot adapt will be scrambling to play follow the leader- but why do the following, when your business could be the one leading the charge?

Financial Incentives: Inaction Could Cost Your Business Big Time

If your roof isn’t making you money, your building could be losing 30% of its value¹. While your building may have been top-of-line when you bought or built it, the value of your investment is likely plummeting if you continue to ignore your roof’s potential monetization. This is known as the Brown Discount, or the increased depreciation of a building over time due to the building’s lack of environmental standards.  On average, “green” buildings have a 6% rent premium and a sales premium of over 7%. In other words, green-certified buildings command higher rents, exhibit improved leasing rates, and demonstrate superior overall performance². 

The Green Premium, also known as the feed-in tariff (FIT) mechanism, offers financial incentives to businesses that generate renewable energy, such as solar power, and feed it back into the grid. Under this policy, businesses are paid a premium rate for the electricity they generate, providing a steady source of additional income while offsetting the initial investment in solar infrastructure. This not only accelerates the return on investment but also enhances the overall profitability of solar projects.

Economic Benefits of Solar Rooftop Installations

Investing in solar rooftop installations offers numerous economic benefits for businesses:

1. Cost Savings: By generating their own electricity from solar panels, businesses can significantly reduce their energy bills and protect themselves from future increases in utility rates. This translates into substantial cost savings over the lifespan of the solar system.
2. Revenue Generation: Through the Green Premium, businesses can earn additional revenue by selling excess solar power back to the grid. This creates a new stream of income and enhances the financial viability of solar projects.
3. Tax Incentives and Rebates: There are many tax incentives, grants, and rebates available to businesses that invest in renewable energy projects, including solar installations. These incentives further reduce the upfront costs and improve the financial returns of solar investments.
4. Brand Enhancement: Adopting solar power demonstrates corporate social responsibility and environmental stewardship, enhancing the brand image and reputation of businesses in the eyes of customers, investors, and stakeholders.

Environmental Impact and Sustainability

Beyond the economic advantages, solar installations contribute to environmental sustainability by reducing carbon emissions and reliance on fossil fuels. By transitioning to clean, renewable energy sources, businesses play a crucial role in combating climate change, preserving natural resources, and safeguarding the planet for future generations. 

Value Driven Results for Your Business

In today's rapidly evolving business landscape, investing in solar power isn't just an option; it's a strategic imperative for companies committed to long-term success, sustainability, and responsible stewardship of the planet.

By embracing solar energy, businesses not only reduce operational costs and generate additional revenue but also demonstrate leadership in sustainability and contribute to a cleaner, greener future.

Considering Solar for Your Building? We’re Here To Help.

Our team of solar energy professionals is dedicated to crafting tailored solutions that align with your corporate objectives, whether you're aiming to achieve sustainability goals, or unlock cost savings through renewable energy. We understand that each organization has unique requirements and constraints, and we employ a collaborative approach to design a solar strategy that fits seamlessly into your existing operations. Learn more about our Commercial and Industrial experience, or contact our team below to see how you can get solar on your facility's roof today!