5 Reasons to Solarize your Business
Factories and commercial offices in India are paying the highest electricity bills to the discoms. The two main reasons behind this is:
- High Electricity unit rates for factories, industries and commercial buildings
- High power consumption for running machinery, air conditioners, electrical appliances and other equipments
Planning to install solar plant for your business, here are the 5 most important reasons to solarize your business:
1. Huge savings on electricity bills and reducing operating costs
Businesses choose to go solar with the rooftop solar companies to reduce their monthly electricity bills and increase profits in the long run. Solar Systems are helping businesses to reduce on their electricity bills. By reducing the operating costs, businesses will be benefited and automatically their profits will rise. Many states in India are charging high unit charges from the commercial and industrial clients which will benefit the businesses in going solar. There are scenarios where the customer is able save up to 90% on their electricity bills.
2. Tax Benefits
Installing solar systems for your business can help you save on your electricity bills and also provide you with maximum tax benefits. As we all know that solar systems are an asset to the company, it helps the business to avail accelerated depreciation benefits. Every business looks at saving money and claiming tax benefits from its investment and asset. Businesses can claim 60% depreciation in first year itself, whereas normal depreciation rate for any general plant and machinery is 15%.
3. Easy solar financing and funding options
Adopting solar energy has never been easier before with great financing options where the customer just needs to pay an upfront cost of 25% – 30% and rest in easy EMIs over the time period of 3 – 5 years. Most interesting feature is that the installments are always equal or less to the savings amount. So basically, when we look at it through the financial aspect the solar system is paying for itself. Solar panel commercial cost becomes pocket friendly when the customer is choosing easy EMI options. With increasing demand in the adoption of solar energy in India, rooftop solar companies have partnered with the leading NBFCs / Financial Institutions to provide easy and convenient financing options for solar systems.
4. Zero Pollution and Carbon Emissions
Solar Energy is one of the most preferred form of generating electricity in the world. It generates around 1500 units per year approximately per KWp. Every unit generated from solar plant is pollution free and gives out zero carbon emissions. Whereas, other forms of power plants require some kind of fuel or gas to produce electricity and generate power which later on is one of the greatest reasons for global warming. We all know that sun is a free source of energy and solar plant only requires sunshine to generate electricity. Installing solar plant is equal to planting trees which makes the nature and environment a better place to live.
5. Life of 25 years with negligible maintenance
The main worry of all business owners is that what will be the life and maintenance required to maintain the solar system installed at their premises. Once it is mounted on the roof properly, there is no kind of movement or moving part in the solar panels which will require any maintenance. The only maintenance it requires is cleaning of solar panels with water every 15 days to attain maximum performance. Every equipment comes with some kind of maintenance or cost related to maintenance whereas solar panels require the least maintenance to function and generate electricity.
Businesses are so aware nowadays and becoming smart each day reading about benefits of adopting solar energy that nobody will want to miss out this great opportunity. It is not only saving on your electricity bill, but also contributing to the environment by not spreading any pollution or carbon emissions.
In the tough times of Covid-19, every business looked upon reducing their operating expenses and reducing the costs so why not look upon at the most feasible investment options around in the market and start preparing for the future. Once you completely understand the monetary and non-monetary benefits of solarizing your business, you are ready to go solar.