Why All Store Chains Should Have Solar
- Apr 26, 2022 2:07 pm GMT
The green revolution is influencing new corporate sustainability standards. Government officials are establishing emission-reduction regulations, which hold individuals accountable for pollution. Consumers are also impacting sustainability efforts by solely purchasing low-impact goods.
Store chains can meet consumers’ demands and reduce their risk of fines by sourcing solar power. Investing in photovoltaic (PV) panels may economically and environmentally benefit corporations. There are six key benefits of solar energy for store chains.
1. Reducing Utility Costs
One significant benefit of solar power is its affordability. Researchers discovered PV panels are the most cost-effective power source on the market. Corporate buildings consume nearly 35% of America’s electricity supply.
Business owners pay steep utility costs when relying on oil and gas. Energy intense corporations can significantly decrease their electricity bills when using solar power. Business owners can also prevent energy price changes caused by wars, pandemics, politics and other external influences when sourcing renewable energy.
Since Russia invaded Ukraine, gas prices increased to over four dollars. Solar power prices remain consistent regardless of external influences. Another benefit of solar energy is shrinking a corporation’s carbon footprint.
2. Meeting Eco-Consumer Demands
Market researchers recently discovered over a third of consumers are willing to pay more for goods from sustainable companies. Individuals use their purchasing power to shrink their personal carbon footprints. Store chains can produce goods with solar energy to meet eco-consumers’ demands and gain a leg up on their competitors.
Many drivers are also switching out their gas-powered vehicles for electric versions. Stores can support the sustainable transition by powering on-site vehicle charging stations with solar energy. Eco-consumers may be more inclined to purchase goods from stores with shared values.
3. Creating Passive Income
Another economic benefit of solar power involves selling excess energy. The U.S. government is rewarding solar energy producers by purchasing unused power. Government officials are supporting PV panel owners to meet their decarbonized electricity goals.
America created a net-zero electricity goal to reach by 2050. Selling solar power back to the grid helps corporations develop a passive form of income. Companies can also economically benefit from solar energy by accessing tax incentives.
4. Accessing Tax Credits
Government officials are aiding the decarbonized electricity transition by providing panel purchasers with tax credits. The U.S. government created the solar investment tax credit in 2006 to promote renewable energy growth. Companies may receive 22% back on their panel purchases until 2030.
After 2024, corporations may receive 10% back on their solar system costs. The tax credit helps business owners develop passive income and utility reductions quickly. Installing solar panels on chain store rooftops also prevents power outages.
5. Increasing Energy Resilience
The frequency and intensity of natural disasters are increasing as climate change worsens. Hurricanes and other disasters often cause operation-limiting effects. American companies lose nearly $150 billion each year from power outages.
Store chains can prevent financial loss by installing resilient power sources. PV solar panels experience significantly fewer outages compared to conventional grid systems. Panels also produce electricity during cloudy and rainy days, expanding sustainable backup power supplies.
6. Avoiding Future Fines
Energy professionals predict sustainability regulations may impact the future of power production. Global organizations are setting eco-conscious goals to produce 95% of the energy supply from low-impact sources by 2026. Government officials may create laws requiring companies to use emission-free electricity.
Business owners can reduce their susceptibility to fines by purchasing rooftop PV panels today. Many countries are taking corporate social responsibility seriously, creating emission-reduction targets. About 100 corporations produce 71% of greenhouse gas emissions globally.
Countries can achieve their sustainability goals by switching corporations’ energy supplies to solar. Companies may also avoid fines by transitioning away from fossil fuels today.
Adopting Solar Power Today
Purchasing and installing PV panels is easier now than ever before. Companies should buy their solar systems from distributors who also perform installations. Individuals can save more on their systems by bundling panel and installation costs.
Business owners may experience the economic and environmental benefits of solar energy shortly after installing their PV panels.
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