Whenever you make an investment for your business — whether big or small — you know as a business owner that it has to pay for itself. This is especially crucial when making improvements to your business property. Whether it’s a store-front business or land for agricultural business, every improvement has to add value to both the property and your business itself. Otherwise, it’s just not a worthwhile investment. However, we can assure you that solar panels affect business property values in a very positive way, so they are definitely worth it!
Solar Panels Increase Business Property Value
Whether you buy your solar panels for your business through cash or a loan, they have now become a property asset, which increases the value of your business property.
How Do They Increase Business Property Value, Exactly?
So solar panels will increase your business property value, but how? Solar panels will:
- Reduce electricity cost – Running electricity for your business, particularly in California, ain’t cheap. Electricity is probably one of your biggest overhead costs. Cash registers, lights, equipment, WiFi, computers, printers, phones … the list goes on and on. The electric bill for your business can run high, and you need to pay it in order to stay open. Using solar energy to power your business will greatly reduce your electric bill, so you can invest in bettering your business and property in other aspects.
- Reduce Carbon Footprint and Increase Marketability – Solar energy is proven to be sustainable and environmentally-friendly, and oh-so marketable. When you promote your business as environmentally-friendly, this adds the benefit of customer appeal. Customers love supporting local businesses who are doing their part to reduce their carbon footprint. It’s a win for the planet and a win for your business!
- Earn Your Business a Tax Credit – Have we mentioned that solar panels will give you a tax credit? We’ve definitely mentioned it a few times, but it’s only because we believe you need to know about it! Through 2021, you’ll receive a tax credit of up to 22% of the purchase and installation of your solar panels on your business property. However, this tax credit will be reduced to 10% for business properties by 2022. But we highly recommend that you add solar panels to your business in 2021 so you don’t miss out on the biggest savings.
All of these solar power benefits affect your business property value exponentially, both financially and functionally. Ready to get solar power for your business property? Contact us today or call us at 877-44-SOLAR.