5 Benefits of Commercial Solar
As a business owner, you may have considered switching to commercial solar panels for your business to reduce electricity expenses. For those who have doubts and are worried that it would be a risky move, get rid of that thinking! Many business owners have made the switch to solar and are already reaping the rewards.
1. Reduce Operating Costs
When a business can reduce costs, it is essentially increasing its profitability. Once you install commercial solar panels, you’ll start saving on your electricity bill and the operating expenses of your business are reduced. Within the lifespan of an average solar panel system, you’ll find that your business has saved more than enough to cover the cost of installing the solar panels.
2. Enjoy Great Return on Investment
If you’re considering the switch to solar for your commercial building, look at it as an investment, not an expense. Companies that have undertaken solar projects will realize that the return on investment you get from solar power often exceeds most of the other investments in terms of the money your business saves over the years.
3. Hedge against Electric Tariff Hike
The future is filled with uncertainties and we have no sure way to predict the future cost of electricity. Consequently, it’ll be difficult for you to predict, let alone control your business’ operating costs. However, going solar can effectively help you hedge against unpredictable and fluctuating energy bills. With commercial solar panels, you won’t have to worry about rising energy prices since you’ve locked in your price for electricity.
4. Increase Property Value
As the awareness among people to conserve electricity increases, commercial buildings that have solar panels are found to hold higher property value and sell faster than those that don’t, per multiple studies. Looking at how solar energy is gaining steam, adding commercial solar panels will be a wise way to make your building more favoured in today’s market.
5. Enjoy Double Tax Incentives
In Malaysia, companies that undertake qualifying green technology projects for business or own consumption are offered double tax incentives. The Malaysian government has shown great encouragement and support to these “green” companies via the implementation of the Green Incentive Tax Allowance (GITA) as well as Capital Allowance (CA).
For more information on how your business could benefit from solar panels, contact us or request a quotation right away!