Commercial solar panels are worth it for any business that wants to reduce operating costs and increase profits. It’s an investment that will pay for itself through energy bill savings and make your business money!
Modern businesses of all types and sizes are installing commercial solar panels, and you don’t want to miss out on the benefits. Here are the top commercial solar benefits you’ll see when you install solar panels for your business or organization in New Jersey.
Reduce Operating Costs & Increase Profits
Solar panels turn the unused space on your roof into a personal power plant for your buildings. They can generate most or all of the electricity your buildings need to operate, so you can buy less electricity from the power grid and potentially eliminate a major operating expense. Every dollar your solar panels save on electricity costs increases profits for your business!
Sell Excess Power to the Electric Grid
In New Jersey, utility companies are required to offer net metering for commercial solar panels. Net metering is an agreement between you and your utility company that allows you to “sell” the excess power you generate to the utility in exchange for credits on your electric bill. The credits can be used to buy electricity from the grid when your solar panels are not producing electricity—like at night.
Net metering makes solar power more profitable for businesses, but it might be going away. New Jersey has announced plans to reduce net metering incentives for solar customers. Go solar now to lock in the best incentive rate while you still can!
Hedge Against Inflation
Electricity costs have risen tremendously in recent years and will continue to rise. According to the latest inflation data released by the US Bureau of Labor Statistics, electricity prices are outpacing annual inflation rates! Businesses across the country are feeling the sting of price hikes, but solar-powered businesses haven’t even noticed, because solar panels protect against electricity rate increases and keep your costs stable.
Get Tax Breaks
Commercial solar panels and battery storage systems qualify for federal tax incentives.
- Investment Tax Credit – Businesses can save 30% on their total solar installation costs with the federal solar investment tax credit. Non-profit organizations are eligible for a direct payment in place of the credit.
- MACRS Depreciation for Solar – The modified accelerated cost recovery system (MACRS) is a way for your business to recover some of its solar installation costs through annual tax deductions. Commercial solar panels are eligible for a 5-year cost recovery period.
Learn more about commercial solar financing and incentives.
Market Yourself as an Eco-Friendly Business
Installing solar panels reduces your business’s carbon footprint, which can be hugely profitable. Consumers are paying more attention to their environmental impact than ever before and many prefer to support eco-conscious businesses. When you install solar panels, you can leverage your installation to position yourself as a green business and appeal to a wider audience.
Install on Any Type of Roof
One of the first questions business owners ask about commercial solar is whether the panels can be installed on flat commercial roofs. The answer is absolutely. We can install solar panels on all types of buildings, including commercial buildings with flat roofs. We just have to customize the installation to your roof type. That means looking at sun exposure, optimizing placement, and ensuring that the solar panel placement does not interfere with your ability to access other parts of your roof.
Commercial Solar Panel Installation in New Jersey
The ROI on commercial solar panels is phenomenal, and it’s one of the best investments you can make to improve your buildings. NJ Solar Power is the local authority on commercial solar power in New Jersey. We’ve been in business for over 20 years and installed thousands of solar energy systems throughout the state. From commercial buildings to small businesses, cold storage facilities, government buildings, schools, and more, we can put solar panels on almost any building and ensure optimal profitability.