Many business owners or commercial property managers often try to mitigate their costs while maximizing their profits. One great way to do that is by installing solar energy systems on their properties. Despite the growing popularity of these systems, the question of whether solar panels are worth it is still prevalent to this day. This guide will outline the many benefits of switching to solar and why solar panels are, in fact, worth it.

Reasons why solar panels are worth it

Instantly improve the property value

Many people look at the upfront costs of installing a solar power system on their commercial property as a primary reason why solar panels are not worth it. However, it's better to look at those costs as a long-term investment. Properties with solar panels tend to sell for more money than comparable ones without them. Studies show that, on average, residential property owners who install solar panels saw their property value increase by about $15,000, and the same is true for commercial properties as well.

Lower overall operating costs

The initial installation isn't the only reason why solar panels are worth it. They also continue to provide long-term value in the form of lower energy bills. Since the commercial properties can generate their own electricity using solar energy, they become less reliant on the municipal power grid. That leads to a reduction in the monthly electric bills, which can be quite large for commercial properties.

Take advantage of net metering

Properties powered by solar energy don't just get to enjoy the benefit of lower electricity consumption from the grid. They can also sell the energy they create back to their utility companies for credits on future bills. This is the process known as net metering. Essentially, if the property generates more electricity than it uses, that excess energy can go back to the municipal grid and reduce future utility bills even further.

The government provides incentives

Since solar power is such a clean and renewable energy, the federal government wants more people to adopt it. That's why they provide the solar energy tax credit. This investment credit helps reduce the overall cost of installing the system by lowering the amount owed on federal taxes. For 2022, that tax credit amounts to 26% of the overall cost of the installation with no maximum amount that can be claimed. However, that credit reduces to 22% in 2023 and is currently set to expire in 2024 unless Congress renews it, so it's best to take advantage now.

It's good for the environment

The financial benefits aren't the sole reason why solar panels are worth it. They're also much better for the environment than more traditional energy sources. According to research, solar power systems derive clean, pure energy from the sun and provide power without the harmful greenhouse gas emissions. That means it's a fantastic way to get the energy your property needs while also helping to combat climate change and reduce toxic air and water pollution.

Are you ready to make the switch to solar?

Then reach out to the team of experts at Green Commercial Systems. As a nationwide provider of solar energy systems, we can help you start enjoying the many benefits of going green with solar for your commercial properties. Our team of certified installers will work with you to understand your property's unique energy needs and design the ideal system using industry-leading technology. If you still have any questions, you can check out our helpful FAQ, or contact us online to schedule your free consultation.