Solar Energy: Why Should You Consider It For Your Business?
According to the United States Energy Information Administration, the electric power requirement has been predominantly increasing with over 100.2 quadrillions Btu in energy consumption in 2019. Approximately 96% of this was consumed in electric power generation, and the rest was sold to the other sectors of the industry.
This shows that whatever sector of the industry you are in, the energy required for your business is not just costly, but it is also detrimental to the environment.
One of the few ways to avoid a sky-high cost in power consumption is to transition from traditional into renewable energy, particularly solar energy. But why should you even consider solar energy to power your business? Here’s what you should know.
Dramatically Lower Your Electricity Bills
Whatever industrial sector you are in, it’s an obvious fact that you need the power to operate your business. As your operation flourishes, the electricity bill that you’d have to pay will increase as well. And with that, the larger the cost will be for your business. Transitioning your business into using solar power is a great investment, not only because solar power is free, but can also save up more money from electricity bills in the long run.
Generate an Impressive ROI
The initial investment for installing solar panels may have been too costly in the past, but it has continually decreased by about 70% since 2009. Not many people know this, but you can also get assistance from the government through their renewable energy incentives to lower the amount of money you’d have to spend.
Aside from that, Researchers from the Journal of Materials Engineering and Performance have realized that you can utilize solar power for industrial purposes such as manufacturing. One such example is welding a titanium sheet, using concentrated solar energy. Just like solar power, titanium sheets will play a big role in the industry in the near future. This metal is stronger and more corrosion-resistant compared to the typical steel and aluminum alloys.
Aside from these two main reasons, there are some minor benefits that you can get from transitioning your business from traditional power to solar power. These benefits include government rebates and tax benefits, the cutting of overhead costs, independence in energy, and longevity.
In a nutshell, making your business solar powered can be a big step into expanding your business, and as well as helping the environment.