Striving for clean energy should be the duty of every modern company with rising gas prices and fluctuating energy bills. Using one or more alternative sources of energy on top of the existing power source is recommended. It takes only a few carefully planned steps to begin the process.
The first step is to enroll a company in programs that provide incentives for installing systems that generate renewable energy. There are various incentives provided by businesses, nonprofit organizations, and state and federal tax agencies. The federal government provides 25% income tax credits that assist property owners in covering the costs of their installations. In addition, the costs of some incentives are calculated based on the system’s annual energy output (AEO).
Renewable Energy Options
Transitioning to clean energy starts by having the right qualifications for the program. A business owner may qualify for one program but not for another based on the type, size, and quality of the property.
Solar panels are heavy-duty and take up a lot of space, so the site where it’s installed must be equipped for the task. In some cases, installing wind turbines is more affordable and less burdensome but less energy efficient. In addition to solar energy, there are plenty of other renewable options to consider, like hydro, biomass, or geothermal energy.
Returns on Investment
The next step is to review the upfront costs of installing a clean energy system compared to the returns on investment. The upfront costs maybe tens of thousands of dollars, and the business owner has to determine how long it will take to earn back that investment and start saving money. For some companies, it could be three years but less than one year for others. It’s important to weigh the investment costs with the eventual benefits.
Transitioning a company to use cleaner, more renewable energy takes baby steps. Many business owners start with the most basic method of installing solar panels and cutting down on their electric bills. Few business owners can expect to live completely off the grid and should expect to retain their original power source. Even so, there are many ways for company leaders to transition to renewable energy and start seeing the benefits.