New York City remains a trailblazing city for renewables and one of the most popular solar panel locations in the United States. This is down to the great incentives on offer, the ambitious clean energy targets set by state government, a huge population of smart, environmentally conscious citizens, and a whole host of other reasons.
Often, when we think of a solar panel installation, our first thought is of the conventional home rooftop set-up. In reality, solar panels can be implemented in a number of ways, well beyond the standard residential project. One such avenue will appeal to business owners around the city of New York - commercial solar. The benefits of a commercial solar installation for a New York City business are far-reaching and diverse, but we’ve picked out 4 of the main benefits and highlighted them below.
Probably the biggest impact of a commercial solar installation, in the eyes of a business owner at least, is the impact on operating costs. It takes a lot of energy to run a business - in more ways than one - and this means high utility bills. Furthermore, these utility bills can take a considerable chunk out of the budget. This is where commercial solar comes in. A commercial solar installation reduces operating costs by offsetting these utility bills. If you’re saving money on your electric bill, you’re saving money on your operating costs. This alone can make commercial solar a worthwhile investment and, with utility bills looking like they will continue to rise in New York City, now is the time to take advantage.
There are countless excellent solar incentives and rebates across the United States and New York City is no exception in this regard. You might think that these financial incentives are mainly targeted toward residential solar customers but this isn’t the case. Indeed, many of the biggest New York solar incentives are entirely applicable to commercial solar installations as well. One of the most important incentives for solar consumers in the recent past has been the federal investment tax credit (ITC) but, unfortunately, 2019 is the last year in which you can avail of the full rate of this tax credit. With the imminent step down for this fantastic incentive, 2019 could be the best year to invest in commercial solar for the foreseeable future.
Business owners, understandably, may raise concerns when it comes to the effect of a solar panel installation on the value of their property and, in turn, their property taxes. Thankfully, it’s been shown that a commercial solar installation increases property value and has no negative effect on the rate of taxation. Better yet, properties with solar panel arrays have been shown to sell quicker when they do go on the market. There are plenty of upsides to a commercial solar array in the competiive New York City property market.
At a time when climate change is a hot conversation topic across the United States and, indeed, the world, businesses have a lot of incentive to chart a renewable-driven course for their future. Going solar is an efficient, affordable way to move your business toward this renewable future. A commercial solar installation can go a long way to reducing a business’s carbon footprint moving forward. It’s not just the environmental benefit either. The knock-on effect of public goodwill will likely benefit business and make the company a more viable destination for an increasingly informed workforce. With a commercial solar installation you’ll be taking positive steps for your business, your wallet and your planet.
By Shane Croghan