Going solar: You can go big or you can go small.
Baby-stepping into solar? Pick up a little solar generator to charge up your cell phone. Cue winking emoji.
Looking for a mongo tax incentive? Go ahead and search Google images for “Mandalay Bay solar panels” to take a peek at a hotel industry leader that went solar. Cue wow emoji!
Luckily most businesses fall somewhere in between a solar-powered calculator and a twenty-acre solar array for a grand resort. And, in the past few years, prices to install solar panels have dropped, making it an affordable solution for many establishments.
Hotels with large roofs, in particular, have much to gain from dipping their toe into the solar deep-end. Installing solar panels can reduce electrical bills significantly, depending on the size of the building and usage. Motels and hotels power a lot of stuff – a/c’s, hot water, lights and TVs, not to mention the pool and gym equipment. A hotel typically uses 50% more electricity than a comparable neighborhood block, yet often only at 55% capacity. Solar panels can help offset these costs.
- Outright purchases
Whichever way a business goes, it’s going to mean awesome tax incentives. Plus, eco-friendly consumers may choose your hotel over another to reduce their own carbon footprint.
So where do you begin if you’re considering solar panels for your businesses’ rooftop?
- Start by doing the math. Here’s a handy place to calculate how much your business would save if solar was installed.
- Don’t forget about the incentivizing tax credits. States have varied policies, but most will reward you at tax time for going solar, and not just the first year. For the latest in your state, check out: www.dsireusa.org.
- Putting photovoltaic (PV) panels on your businesses’ roof is also great PR. It shows that you’re committed to improving the environment, and customers appreciate that. It’s important to find out what will work best for your business. Shop around! Get some quotes. A good place to compare contractors in your state can be found here.
The next time the sun hits your building’s roof, it could be powering your business forward. Give us a ring at Distinguished if your business has gone solar (or is in the process). We’d love to hear and share your story!
Homeowners, check out our blog on why solar panels are a great idea for your home. To see how we’re committed to helping with green initiatives, visit the Association of Green Property Owners and Managers (AGPOM), a 501(c)(6) non-profit organization that helps property owners and managers realize the value of environmental-friendly pursuits while offering incentives that stimulate participation such as green building insurance coverage.