Energy prices rose to historic highs this year and the natural tendency is to wait for them to come back down and return to normal. But will they? According to the natural gas options market, the chances of natural gas reverting to 2021 prices this January 2023 are the same as them skyrocketing to previously unforeseen levels. Do you want to take that chance? Or would you rather lock into the relative safety of solar, which is cleaner, more efficient, and promises considerable long-term savings and a hedge against inflation? Timing, as they say, is everything. And the time has never been better to recognize the benefits of renewable energy.
Getting started with solar can deliver a higher return on investment than any other business investment. The increased cost of natural gas right now is having the largest impact on electricity supply and overall energy bills. That’s likely to continue for years to come as much of the world is dealing with an energy supply issue resulting from the war in Ukraine and restrictions on Russian energy. Solar can fix or reduce energy costs going into a volatile and inflated market, provides security against inflation, and gives financial budget certainty since solar systems are expected to last 25 years.
“The U.S. energy market has never experienced this many opposing dynamics,” said Core Development Group CEO Henry Cortes. “Solar power, battery storage, and EV charging is absolutely essential to meeting growing energy demands, reducing risks of climate change, and providing energy independence.”
By going solar sooner, companies look savvy for diversifying their energy portfolio, while also hedging against future inflation by locking in a stable rate for all or a portion of their electricity needs. Additionally, by reducing their carbon footprint these firms are also looking astute from an environmental and ESG scoring perspective.
The recently passed Inflation Reduction Act provides major investments in domestic energy production and manufacturing and is anticipated to reduce carbon emissions by roughly 40 percent by 2030. Most notable for Core Development Group’s commercial customers, the new legislation extends the solar investment tax credit (ITC) for 10 years and offers enhanced levels of credit which will add significant value to solar projects.
State incentives coupled with federal tax incentives are making solar more affordable than it’s ever been. Lower electricity expenses combined with lower tax payments create a shift in financial numbers that triggers positive impacts on a business’s cash flow and its profits and losses.
“The recent Inflation Reduction Act legislation will help transition businesses and organizations to a better bottom line with financially viable clean energy projects that drive our country towards a brighter tomorrow,” Cortes said.
Businesses that wait to invest in solar systems will be subject to paying utility electricity rates every month and exposed to market volatility, which can be an increasingly expensive proposition. Concerned about the upfront costs of solar installation? Consider the savings down the road that will more than compensate for the initial expense.
Commercial solar systems that have short payback periods, provide steady financial returns, and help business owners stabilize energy prices are smart capital investments. Let Core Development Group provide your organization with a free consultation and determine whether solar, battery storage, or EV charging makes sense for your business. See what so many of our customers have learned already: It’s smart to go solar sooner.
