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Solar Energy Value for Small Business

Small Business in the U.S.

We regularly hear about how small business is the backbone of our economy and responsible for the employment and well-being of tens of millions of American citizens. Looking at the numbers, it’s easy to see how true this is. According to the U.S. Chamber of Commerce:

There are over 30 million operations defined as small businesses (under 500 employees) which make up 99.9% of all business operations in the U.S.

Of those, 22 million are individually operated. That leaves over 8 million businesses which employ people and many that likely require their own operating facilities.

Importantly, as many as 400,000 new starts occur each year, and 20% of those on average don’t survive for a full year.

Starting a small business is obviously an exercise needing creativity and a strong sense of survival. Within the 80% that make it past the first year, some will continue to struggle in subsequent years. 2020 has been especially hard due to the pandemic and its severe impact on public life, resulting in many companies in various service industries seeing 20% and higher attrition rates.

Companies that are struggling but surviving are generally under cash flow pressures. Some are seeing unprecedented low levels of revenue, but they continue to earn enough to stay in operation. Others may be witnessing steady business but find growth a challenge in this era. The fortunate ones are finding new business through adapting or providing services now more critical during the pandemic, such as large-scale facility sanitization and other fields.

Solar Power Industry is Healthy

Steady historical growth in the annual installed capacity of commercial solar energy systems is partly a result of good incentives. As with most technology, advancements are driven by increasing demand and other market forces, and solar power technology is no exception. Efficiency and manufacturing improvements have driven costs down, and when coupled with incentives, the two have created a booming commercial solar power market.
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Fast Growth with Small Pandemic Slowdown

Solar Power for Small Business

The growing pressure during this pandemic to reduce costs in every facet of operations reinforces the value of solar energy. Particularly in Massachusetts, escalating electricity costs and leading state clean energy incentives added to federal tax credits make a solar investment pay off quickly. Some investments have been recovered in less than 4 years. That leaves upwards of a quarter of a century of maximum, continued savings AFTER the expense is recovered.
Massachusetts enables one of the best returns on investment (ROI) for a solar energy system.

Learn more about ROI >> 

More than just a wise financial investment, solar power is one of the fastest ways for a company to improve its environmental footprint. And that in turn gives bragging rights and a boost to brand reputation, especially in areas where climate and sustainability are seen as priorities.

Buying Solar Power for Your Business

For 2020 and moving forward, there are a number of flexible buying options. Combined with the existing incentives, there has never been a better time for small business to invest to find their own immediate but long term savings.

Most companies will find that a cash purchase, a loan through a preferred vendor, or a Power Purchase Agreement (PPA) will be their options to maximize savings and fit their budget.

Learn more about Financing options >> 

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Solar Energy at Utility Scale Matches Natural Gas Costs