Sustainability is becoming more than a trend; it is essential. Companies all over the world are using eco-friendly procedures to increase their profitability and decrease their carbon footprint. Making the conversion to solar energy is one of the best methods to accomplish both objectives.
Clean, sustainable, and getting cheaper, solar energy is gaining popularity. By making an investment in solar energy, your company can show its dedication to sustainability, reduce operating expenses, and receive tax advantages. Going solar is one of the better, greener decisions that Accox FinAssist believes in assisting businesses with.
Let’s examine the benefits of switching to solar energy for your company.
- Why Do Businesses Need Solar Energy?
Solar power is the process of employing solar panels to transform solar energy into electrical power. It is among the most environmentally friendly energy sources out there. Businesses can decrease their reliance on the grid and generate their own electricity by installing solar panels.
Among the main advantages are:
- Reduced electricity costs
- Decreased carbon emissions
- Government subsidies and tax breaks
- A rise in the value of property
- A favourable opinion of the brand
The initial cost of installing solar is an issue for many businesses. However, solar is now more accessible than ever thanks to reducing equipment costs and numerous financial aid alternatives.
- Reducing Electricity Expenses
Electricity is one of the largest running costs for businesses. An environmentally friendly method to lower or even reduce this expense is using solar energy.
The energy produced by your solar panels is free after the initial investment. Since solar panels are capable of lasting for more than 25 years, the long-term savings are significant, and the majority of solar systems pay for themselves in 3 to 5 years.
For example, if your company spends ₹1,00,000 on electricity each year, switching to solar might save you ₹25–30 lakhs over the course of 20 years.
- Tax Benefits and Government Rewards
To motivate the use of solar by individuals and businesses, governments worldwide, including in India, are providing a range of subsidies, tax credits, and incentives.
You may be qualified for the following benefits:
Accelerated Depreciation: Companies in India are permitted to deduct up to 40% of the cost of solar assets in the first year, which significantly decreases their taxable revenue.
Capital Subsidies: State governments may provide a subsidy on the overall cost of your project, based on its location and size.
Net Metering: You can further lower your expenses by selling any extra electricity you generate back to the grid through net metering.
We at Accox FinAssist assist you in locating and claiming any relevant tax benefits related to solar energy so that your investment can increase in value.
- Customers Are Motivated to Sustainable Business Practices
Customers are more aware of the brands they support in the current market. More and more consumers are choosing to do business with firms that care about the environment.
Using solar energy shows that your company is environmentally conscious. This enhances your industry reputation in addition to drawing in eco-aware clients. It shows responsibility and leadership, which can provide you with a competitive advantage.
- Energy Sustainability and Dependability
Energy independence is made possible by solar energy. You’re less susceptible to changes in electricity rates or power outages if you have your own power producing system.
This reliability can result in less interruption and more efficient operations for companies that rely significantly on electricity for logistics, IT, or manufacturing.
Furthermore, combining solar and battery storage systems guarantees electricity availability around-the-clock, including during blackouts
- Simple Financing and Quicker ROI
Solar project financing options have also increased. To fit their financial strategy, businesses can now select from a variety of loan, rent, or power purchase agreement (PPA) arrangements.
- You may own the system and get the most out of it with loans.
- With a lease, you can save up-front expenses and pay a set monthly amount.
- Through PPAs, you can purchase solar energy from a third party for less than the grid would charge.
Regardless of the model you select, solar installations usually yield a higher return on investment (ROI) than the majority of other capital expenditures.
- Observance of ESG Objectives
ESG (environmental, social, and governance) objectives are becoming more and more significant to regulators, investors, and customers. By lowering carbon emissions and demonstrating measurable environmental action, solar power installation assists businesses in meeting their ESG goals.
If your company wishes to collaborate with international partners or ask for funding from organisations that value sustainability, this can be especially crucial.
- Solar Audits and Professional Advice
It’s critical to understand your energy requirements prior to making the move to solar power. A qualified solar audit analyses your present usage and suggests the best kind and scale of system for your company.
We at Accox FinAssist put you in contact with reliable solar experts that can do thorough evaluations and help you with:
- System parameters
- Analysis of costs and benefits
- Procedure for installation
- Applications for subsidies
- Planning finances and monitoring ROI
Your transition to solar becomes risk-free and seamless with the correct assistance.
- Building Long-Term Assets
Investing in solar is similar to creating a long-term asset as opposed to paying monthly electricity costs. Solar panels can improve your balance sheet and raise the value of your home.
They also require very minimal maintenance. Solar systems can operate effectively for decades with only standard cleaning and occasional maintenance.
- Using Accox FinAssist to Start
Although going solar might seem like a major commitment, it’s actually one of the best business decisions your company can make if you have the proper financial and regulatory support.
We at Accox FinAssist assist companies in growing sustainably in addition to remaining functional. We are your partner in progress, offering everything from financial reporting assistance to linking you with reputable solar vendors and offering tax incentives associated to solar.
Conclusion
Solar is the way of the future. Adopting solar energy can result in long-term cost savings, regulatory advantages, and a stronger brand image for businesses of all sizes.
Today, take a smart action. With Accox FinAssist at your side, begin your path to a more prosperous and environmentally friendly future.
Are you curious in how solar energy might help your company?