As the economic recovery continues to be sluggish, reducing energy costs can make a significant dent in businesses’ monthly bills. Whether through simple changes or larger-scale investments, every business can do something to save energy. You’ve probably heard about energy-efficiency programs. However, more and more businesses are turning to another solution as well — onsite […]
As the economic recovery continues to be sluggish, reducing energy costs can make a significant dent in businesses’ monthly bills. Whether through simple changes or larger-scale investments, every business can do something to save energy. You’ve probably heard about energy-efficiency programs. However, more and more businesses are turning to another solution as well — onsite solar-energy installations.
Why go solar? When your business begins to generate its own solar power, your electricity bill can drop significantly. Depending on your facility’s energy consumption, you will still draw power from the utility grid, but you might be able to move into a different rate tier with the utility. Solar may also help you avoid peak-demand surcharges.
Where do you begin and how do you identify which incentives and policies to evaluate and pursue.
Many states have measures that aim to open and strengthen their solar markets, such as financial incentives like rebates and grants that provide direct cash assistance for businesses seeking to install solar-energy systems. Also, tax credits are available that can reduce the tax burden of a business choosing to go solar.
Another very important factor is the financing. Often, the biggest hurdle standing in the way of solar -energy adoption is not the total cost, but rather the up-front cost, the amount due at the time of installation. For many businesses, the prospect of buying 20 years’ worth of electricity up-front is daunting. One way to create attractive financing options is through a partnership with third parties. These groups will own and operate solar-energy facilities on commercial properties, through a solar lease or a third-party power purchase agreement.
It’s critical to understand and be informed about the incentives, policies, and regulations that eliminate barriers that often keep businesses from going solar.
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Tony Soruco is a legislative and regulatory affairs consultant at Strategic Communications, LLC in its Washington, D.C. office. Strategic Communications, based in Syracuse, says it provides trusted counsel for public relations, crisis communications, government relations, and business strategy. Contact Soruco at asoruco@stratcomllc.com