Nearly every project we work on includes a conversation about solar. On an altruistic level, there’s the environmental impact of renewable energy and the need to decrease individual and collective carbon footprints. But on a more strategic level, the benefits of solar can be a game-changer for businesses.
That’s one reason why solar energy accounts for about 60% of global renewable power (followed by wind and hydro).
When your company invests in solar energy, you’re not only helping your community and the broader collective, you’re helping your organization in three key ways—financially, as a brand, and from a productivity standpoint.
Once an innovative and costly technology, solar has evolved rapidly over the last decade. In fact, since 2011 the cost of solar systems has dropped more than 60%. At the same time, tech advancements have increased the efficiency of solar panels from around 17.3% to a whopping 47.1%.
Increased efficiency means individuals and companies are seeing soaring financial returns from their investments. If your solar installation produces more energy than you use, you can sell that energy back to the provider at cost. This decrease in costs combined with the increase in efficiency means the ROI of solar panels has drastically increased, with energy bill savings in the thousands.
“Solar energy is an incredibly smart investment,” says BCI President and CEO Ryan Cross. “These systems are paying for themselves in three to seven years and last upwards of 30. That’s a remarkable financial benefit.”
More importantly, incorporating solar panels into everyday construction is now widely accessible with government financing plans, grants, and tax credits. “There are governmental programs that will help you secure solar financing,” explains Ryan. “These include local bonds at low interest rates, tax credits, and environmental investments available to companies of all sizes.”
Exciting new tax credits and investments are also on the horizon. The current Inflation Reduction Act of 2022 includes a $369 billion investment in energy security and climate change programs over the next decade. This section of the bill aims to lower energy costs and provides significant financial incentives for companies looking to make the switch to solar.
Smart businesses with an eye on the long term can find ways to use these incentives to their benefit. “When most people are building or remodeling, their focus is on saving costs in the short term. But if you widen your view to include a discussion about solar, you can make a significant impact on leveraging your building for a lifetime of savings,” says Ryan.
Sustainable practices used to be a brand perk, but they’re quickly becoming a brand requirement. Younger consumers are actively taking personal and fiscal steps to be more sustainable. In the U.S., 61% of consumers list sustainability as an important purchase factor (above the global average of 60%) and 34% are willing to pay up to 25% more on products from sustainable companies.
Despite these numbers, senior executives continue to put the focus on brand name, not brand practices. That means the opportunity is ripe for innovative companies to take huge steps forward by using solar power in their production process.
Every day, more buyers are looking to purchase products that not only help them live more sustainable lives, but are sustainably produced. With company information easily available on the internet, an organization that produces environmentally friendly products through harmful practices is less likely to succeed than a company creating day-to-day products through a sustainable process. Especially in areas disproportionately affected by an increasingly unpredictable climate, local buyers are taking note of companies stepping up its power game.
Right now, whether you know it or not, your business is competing for energy. Between aging power lines and weather shifts, the traditional power grid is becoming less reliable. One of the side effects of our rapid digital progress is a skyrocketing need for more electricity. That rising demand—estimated at 47% over the next 30 years—is leading to massive, frequent blackouts.
“Our entire grid system is an on-demand program,” explains Ryan. “When it can’t keep up, then it suddenly comes to a dead stop.” Those stops put massive pressure on businesses and large-scale productions that rely on large amounts of consistent electricity.
Solar energy, however, can help ease blackout frequency and keep companies on track. “When you install solar, you’re not contributing to or at the whim of these rolling blackouts,” says Ryan. “In fact, you’re helping solve issues associated with infrastructure.” The more companies invest in solar energy, the more pressure can be taken off the grid, which decreases overload and blackouts. Fewer blackouts ultimately means fewer production interruptions and higher productivity rates.
Solar energy installation with BCI Construction and Cedar Creek Energy
Despite a long list of benefits, installing solar energy does require time and expertise. That’s why BCI partners with trusted solar providers like Cedar Creek Energy.
“There’s a lot to consider during this process,” notes Ryan, “and it’s important to have partners who can answer your questions and navigate the implementation with you.”
Over years of projects, BCI and Cedar Creek Energy have worked to deliver quality solar products in a timely and cost-effective way. “We vetted a number of providers and chose Cedar Creek because I want to know that everything is being considered the right way and that the process is going according to plan,” explains Ryan. “Solar companies have come and gone, but Cedar Creek has stayed and evolved.”
If you’re considering solar, partner with experienced companies who can help you make the most of your investment. Contact BCI today, and we’ll help you determine the best way to leverage the game-changing benefits of solar energy for your business.