3 Reasons Recycling Plants Should Cycle Over to Solar
Recently we’ve heard a lot about Fortune 500 companies going green. But what you may not know is that many small-to-medium sized businesses, including those in the waste and recycling industry, are also making the switch to solar energy. There are short and long-term financial benefits that make it possible, and even lucrative, for almost any size business to install solar panels. Some of these financial benefits are well known, but others are not as obvious.
Waste and recycling companies are uniquely poised to reap the rewards of solar panel installation. This is due to their typically large roof space, high energy usage, buildings that are usually owner-occupied, plus a reputation for being earth-friendly. Here are three really good reasons for recycling companies to make it a priority to transition to solar power.
- Shake Your Money Maker
Waste and recycling companies have unusually high electric bills. Companies that install solar panels can eliminate a portion of their monthly energy bill, saving hundreds of thousands – or into the millions of dollars. Recycling companies also often work on smaller margins, therefore attracting a higher tax liability. On top of the energy savings, Federal and State solar tax incentives combine to provide double digit returns. Finally, traditional energy prices are bound to fluctuate, whereas solar energy locks in a predictable cost stream. After paying off the solar panel system, you’ll enjoy free energy for the life of the system, which can be up to 40 years.
- A Brilliant Investment
Most recycling plants own their buildings. This puts you in a unique position to almost instantly increase the company’s value and create a competitive advantage. By reducing your carbon footprint and going green, you’ve set your company apart, not only to future buyers but to potential customers. As a recycling company, you are already an environmentally friendly company. With a transition to solar, you’ve now got a great PR story about how your company is also recycling the sun.
- No Budget? No problem!
Didn’t budget for the switch to solar? Don’t let that stop you. The Federal and State incentive programs offset over half of the system cost, and a variety of financing options exist such that any given recycling or waste management company would not have to invest directly. There are two Federal tax incentives
now available: (i) Receive a tax credit worth 30% of the system (i.e., if a system costs $1 million, you will receive a Federal tax credit for $300,000). (ii)You can depreciate 100% of the system value in the first year. State incentives vary depending on the state where your business is located. In addition, solar
companies offer financing solutions – such as a solar loan or a solar lease – that allow your solar savings and incentives to fund the project. Once your system is installed, there is little to no maintenance. A commercial solar energy system often comes with a 25-year warranty and maintenance contracts, so that you don’t need to worry about a broken panel.
With the right partner guiding you through what can be a complicated process, solar can be an incredibly attractive and lucrative option, not only for your business, but for our environment. When you’re ready to take the next step, call a solar broker like SolarKal who can help guide you through the process and is agnostic when it comes to installation options and partners.
SolarKal, a solar advisor, was recognized as one of the Top 100 Energy Startups. They
were also announced as a winner in New York State’s 76 West Clean Energy
Competition. They help companies navigate the transition to solar, from the first site
visit to the final installation. SolarKal.com
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