Why Commercial PV Inverter is a Must-Have for Your Business?
Modern-day entrepreneurs are often worried about spending hefty sums on electricity. Being dependent on commercial power network also compels them to face fluctuations in electric rate. Sudden price escalation makes operations such as cash flow management uncertain. Maybe it is time to reduce this load and perceive how businesses can benefit from solar or PV (photovoltaic) inverter installation.
The professionals providing CHINT commercial PV inverter said solar power has become mainstream alternative source of energy in the United States of America. You have surely heard that Fortune 500 establishments such as Intel and Walmart are going solar. Many individuals still unfortunately do not believe that solar energy is affordable. The following write-up aims to specify why solar or PV inverter is a must-have for businesses of all sizes. Please go through it right now.
PV (Photovoltaic) Inverter – An Integral Part of Your Business
No entrepreneur must shift to solar power hastily. They must analyze their present energy supply situation with utmost diligence and then figure out where they wish to be in future. Like any investment, weighing the pros and cons is necessary. Solar energy provides a lucrative return only after several years. Anyway, arrive at a decision based on the below advantages –
1. Decreases Overhead Costs
Business overhead consists of numerous expenses beyond operational materials and wages. To manage a business seamlessly, you must pay for insurance, supplies, utilities, and property maintenance. One significant overhead expense that you can control is electricity cost.
All businesses need a constant energy supply. You will use electric power not just for lights. Your office may have electric cooling or heating systems and machines run by electricity. Each device demands a substantial portion of energy. There is not much you can do to make a particular equipment electrically efficient.
Installing PV or solar inverter is a huge step. PV inverters can decrease electricity bills. According to studies, with a PV inverter, a business owner can reduce his electric overhead by almost three-quarters.
2. Energy Independence
Independence from commercial energy sources is another excellent benefit you can enjoy by switching to solar power. By purchasing a self-contained PV inverter, you can finally stop relying on a local power supplier. Besides, since you are saving money in overhead expenses, you can have the assurance of consistent electric supply no matter what happens to your commercial grid.
In several areas, power failure is a part of life. You may be a part of an industry such as cold-storage which cannot endure even a tiny lapse in electrical supply. If you have a PV inverter, you will have electricity in times of outage. Now that’s amazing!
Properly manufactured and installed PV inverters are cent per cent reliable. Unlike generators, they do not have any moving part. The interconnected panels simply trap the sun’s rays and convert them into electricity through a photovoltaic procedure. It is the same electricity you receive from a commercial power provider, but you create it independently.
3. Tax Advantages
The biggest benefit you will enjoy by installing a PV inverter is in terms of taxes. All levels of federal, state, and local governments encourage thee shift to clean, efficient, and renewable solar power. To show the support, they provide a couple of incredible financial assistance campaigns and tax incentives.
Did you know the US federal government ensures around 25% rebate on the total cost of solar inverter installation? So, if you spent $20,000 to install a solar inverter, you will receive $5000 tax credit. This program has no limitation. In other words, you can invest whatever you want and still get the discount. The amount however decreased after the year 2022. Currently, the rebate is 22%.
Solar energy credits lets you recover the cost of equipment installation through the equipment’s energy production. One solar energy credit is equal to a thousand kWh. The government made it mandatory for the electricity providers to participate as well as honor each solar energy credit one produces from their solar equipment.
Converting to solar electricity is a tactical business decision that can enhance your bottom line. If you are planning on getting a solar inverter for your organization, please opt for the CHINT Commercial PV inverter. CHINT, a reputed smart energy provider, has been helping businesses to achieve energy transition, energy conservation, and carbon reduction.
