Solar energy is hot, literally and figuratively. Many major corporations are going solar at an incredible rate. According to the Solar Energy Industries Association, numerous Fortune 500 companies have installed solar at more than 7,000 locations nationwide. Some of the more recognizable companies include Target, WalMart, Apple, Kohl’s and IKEA. Overall, the solar market is constantly growing. In 2017, the U.S. solar market installed 10.6 gigawatts direct current of solar photovoltaic (PV) capacity. In doing so, the market exceeded 2015 levels by 40%.
So, what are the benefits of solar energy for your business?
Installing solar panels at your business does not only benefit the environment; it benefits your business with utility savings. So how do solar panels work? The process is actually quite simple. Solar panels on the roof of your business capture the sun’s energy and turn that into electricity for your building. Adding the solar element to your business can greatly reduce your electricity expenses. The more solar panels you install, the greater the savings you will realize. The more energy you can create from solar, the less you will need to rely on your local utility provider. As electricity prices continue to rise, your savings will continue to grow over the life of your solar array.
Solar Energy and Income Generation
Energy that is not immediately used by your building can be stored for future use. The majority of states now have net metering policies where the local power grid will purchase this excess energy from you and issue a credit on your utility bill, resulting in extra income for your business. In some states, your business can qualify for “Net Metering Credits”, which are credits you can use to offset future energy expenses. State policies differ in their approaches to net metering with variations in capacity limits, eligible technology, credit retention, and renewable energy credit (REC) ownership.
When your business goes solar, it establishes itself as an environmentally conscious company. This sustainable move presents your business in a favorable light. Going green has a positive impact on the environment as well. The amount of solar installed at U.S corporations and businesses is enough to offset 1.1 million metric tons of carbon dioxide each year. Albireo has helped countless businesses become more energy efficient by auditing their energy use and determining which renewable energy options are the best fit.
Recently, the United States Secretary of Energy, Rick Perry, announced up to $105.5 million in new funding to advance solar technology and support America’s continued leadership in energy innovation. According to Mr. Perry, “Investing in all of our abundant energy sources, including solar technologies, will help to drive down costs and ensure that the nation leads the world in energy production and innovation.” This recognition by our government of the importance of solar energy and its benefits to our planet are paramount to its success.
How Albireo Can Help
Now that we’ve shared some of the benefits of going solar, it’s time to get together to see how Albireo’s energy management consultants can use their expertise to help you manage your energy needs. Our experts are available to meet with you and discuss our energy services. Reach out to us today at [email protected] or call 800-201-3153. Let Albireo power your business.