As the New Year gets underway, several economists warn of challenging financial times, increased geo-political risks, and potential for continued inflation. U.S. consumers might face uncertainty and tighter budgets as the higher prices of energy impact the costs of manufactured goods. With so many unpredictable areas, businesses and consumers will find planning for the future to be difficult. One thing they should plan on is looking into solar – and soon.
Solar can fix or reduce energy costs going into a volatile and inflated market, offer security against inflation, and provide decades of financial budget certainty – because solar systems are expected to last 25 years. By adopting solar, 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. There are multiple ways businesses can introduce clean energy technologies to reduce costs in essential areas and stabilize expenses regardless of what the coming years have to offer. For example, we recently completed a project for a client that purchased a commercial solar system to lock-in 40% of their annual electricity consumption with a 4-year return on investment. Aside from the carbon reduction and sustainable energy benefits, this solar project proved to be a prudent financial decision.
Transitioning to electric vehicle charging reduces reliance on fossil fuels, increasing energy independence, while also improving local air quality; and adopting EV charging on fleets can also increase budget certainty and price protection by avoiding reliance on the fluctuating fossil fuel market.
Businesses are finding increased value in budget certainty and price protection in clean energy technologies by accessing lower and more predictable energy rates. Commercial solar systems that have short payback periods, provide steady financial returns, and help business owners stabilize energy prices are smart capital investments.
Landowners (including businesses and municipalities) with excess or underutilized land can benefit from a solar land lease that can provide an increased revenue stream for a 25-year term, plus discounted electricity savings. For example, New York solar remote crediting policy can provide the ability for organizations to install up to a 5MW solar system on their land (18 acres) and save a guaranteed 10 percent annually on the electricity generated (approximately 7.5 million kWh) without any money upfront.
Larger, utility-scale solar generates reliable, clean electricity with stable prices for decades. Developing utility-scale solar power is one of the fastest ways to reduce carbon emissions and put the United States on a path to a clean energy future. Large scale solar development projects can help bring capital to communities, create local jobs, increase local resiliency, and green the grid. Whether working with landfills, brownfields, farms, municipal land, underutilized lands, or other property owners, Core Development Group can create economic opportunity with solar development.
Learn how to create economic opportunity with solar development. Let Core Development Group provide your organization with a free consultation and determine whether solar, battery storage, or EV charging makes sense for your organization or business. Keep your future looking bright and investigate the powerful benefits of solar development and EV charging.