For practical, financial, and environmental reasons, solar panels are an excellent addition to commercial properties in Albuquerque and across the country. Immediately upon installation, you’ll start seeing how solar energy can enhance a property and strengthen your financial standing. These benefits will only continue to grow over time, making solar panels a long-term investment in your commercial property.
The Benefits of Commercial Solar Panel Systems
If you own a commercial property in Albuquerque, solar panels can offer you a wide range of benefits. The most notable of these perks include:
Lower Utility Bills
The key financial benefit of installing a commercial solar panel system is lower utility bills. With solar panels, your commercial property will start producing its own power from a free energy source: the sun! While you’ll still require some power from your energy company at first, you’ll gain energy independence over time. As an energy producer, you won’t need to pay for the power that your commercial property requires.
Net metering heightens your ability to become energy independent with solar panels. With net metering, you’ll earn credits for any extra energy that your solar panels produce. You can redeem these credits at times when your solar panels don’t produce enough energy for your property, such as at night or during cloudy days.
Improve Cash Flow
We’ve already established that solar panels will lower and eventually eliminate your utility bills. This will provide a further benefit: greater cash flow for your business. By eliminating a monthly expense, (utilities), you’ll have more room in your budget for other expenses. This will improve your cash flow and provide financial stability for your business.
Your Solar Panel System Will Pay For Itself.
While the upfront cost of solar panel installation can be daunting, you’ll get that money back in saved utility expenses over time. Most solar panel systems will pay for themselves within just seven to ten years. After that time, you’ll be getting free energy to power your commercial property, and little to no maintenance will be required for your panels.
Following the theme of financial solar benefits, incentives and rebates can offer you a hefty discount on the price of solar panel installation. One key solar incentive is the federal solar tax credit, which offers solar panel system owners a deduction of over 20% of the cost of solar panel installation on their federal taxes.
Albuquerque solar panel owners can also get a deduction on their New Mexico state taxes. The New Mexico state government offers a tax credit based on your property’s sustainable certification level. To qualify for the New Mexico solar tax credit, your property must be certified as sustainable by the U.S. Green Building Council.
These are just two of the many incentives available to solar panel system owners. Our team of solar experts can help you with financing, rebates, and tax credits to get the best bang for your buck with your new solar panel system.
Higher Property Value
By boosting the value of your commercial property, you can get a high return on your investment should you sell the property in the future. Installing solar panels is an excellent way to increase your property’s value. This is because buyers will pay a higher price for properties that are energy independent. After all, properties that produce their own energy will have lower operating costs. So, with a solar panel system already installed, your property will sell faster and for a higher rate.
Become an Eco-Friendly Business
As the owner of a commercial property, you know that your business’s image and reputation are crucial to your success. To keep current customers and get new ones, you need to be trusted and respected in the community.
The health of the environment is a prevalent issue around the world today. People are concerned about the impact that we have on the planet and how it will impact future generations. As a clean, renewable energy source, the sun is a solution to reducing pollution and its harmful effects. So, by investing in solar energy as a company, you’re taking a stand for the environment. This move will gain the attention of your community and let people know that you care about our precious planet.