Why Should I Spend Time and Money on Solar?
Electricity rates are difficult to predict, but it is likely they will continue to increase. Investing in solar now protects your farm or agricultural operation from price volatility and, depending on your location and whether you choose to lease or buy your solar system, you could lock in low electricity rates for 25+ years or even eliminate your electricity bill altogether.
How can running my business on solar increase my bottom line?
Solar saves you money that would otherwise be spent on electric bills.
According to a recent SunPower survey, 87% of business respondents cite saving money as one of the primary reasons for installing solar—with some projected to save hundreds of thousands of dollars (or more) in electricity costs over the life of their solar system.
The extra savings from solar can be used to make operational improvements, purchase new equipment, hire more staff or simply make your business more profitable.
If solar is so great, why aren’t more businesses installing it?
Actually, a lot of well-known companies have gone solar and more businesses are going solar today than ever before. Owing to their appreciation of self-reliance, farms and agriculture businesses were among the early adopters but now they’re in the mainstream.
The fact is, the cost of solar makes it an increasingly viable money-saving solution for ag businesses as utility prices continue to increase. This makes solar a great choice for farmers who want to experience true energy independence and benefit from low energy costs for years to come.
Why should our farm or agricultural business go solar now?
Since 2012, energy expenditures for agricultural businesses increased over 60%.
At the same time, solar is more affordable today than ever before. Since 2012, the cost of going solar has decreased 54%, so there’s never been a better time to go solar.
Another reason to go solar now is to take advantage of incentives and grants that can offset the costs of installing solar. The USDA’s Rural Energy for America Program (REAP) provides assistance for up to 25% of the cost of renewable energy upgrades for an agricultural or rural small business. In addition, the Federal Investment Tax Credit (ITC) for solar is equal to 30% of the amount invested in an eligible installation (e.g., invest $100,000 in solar and you could receive a $30,000 tax credit). However, the ITC rate will decrease over time to 26% in 2022, 22% in 2023 and then to 10%.
How do I Begin?
While it may sound daunting to learn about an entirely new form of energy, we are here to help. From initial planning to final connection, we’ll guide you through the process of taking your business solar.