From tax savings and rebates to reduced environmental impact and positive press, there are many reasons why more businesses have been switching from conventional energy to solar power Las Vegas in recent years. The good news for corporations considering installing solar energy systems in Nevada is that the state's policies have been very supportive of commercial-scale solar installations in the past. This trend is continuing in 2018, and it offers the potential for significant savings. With distinct benefits for investors, property owners, and even customers, it's easy to see why more companies in Nevada are converting to solar-powered electricity every day.
Of the many reasons why businesses are increasingly favoring solar, finances are at the top. Solar energy systems are considered a form of property improvement, which benefits current and future occupants. Solar systems can increase a building's value by up to 3%, which makes solar an enticing choice for property owners looking to sell or rent down the road. Another appeal for investors, owners, and future owners is that having an active solar energy system on the property guarantees predictable energy rates for the system's lifespan. As of 2018, the average corporate electric bill in Nevada is about $440 a month. This amounts to about $5,280 per year. Considering the savings that add up in successive years, it's no wonder that commercial buildings with solar often have faster sales rates and attract more investors and buyers than buildings using conventional electricity. Another appealing financial incentive for businesses to install solar is a federal tax credit called the ITC. The ITC rewards every customer using solar power Las Vegas by offering a 30% tax credit to cover the costs of the system installation and equipment. Along with this federal rebate, the state offers a property tax deduction that deducts up to 100% of all property taxes for companies with renewable energy systems on their property. After adding up the savings accrued from rebates and incentives, every solar dealer Las Vegas notes that there's another, often unrealized, perk for businesses: PR. Once their system's switch is turned on, companies can proudly let their customers know that they've gone solar, which makes clients happy and puts solar-friendly companies ahead of their competitors.
While commercial solar power Las Vegas is increasingly common, large-scale solar projects are also accelerating across the country, and even around the world. Noting the positive environmental impact, cost savings, and publicity they can get from either directly using or investing in solar, many Fortune 500 companies have also jumped on the renewable energy bandwagon. Tesla, for instance, is now an investor in Nevada's solar energy industry. In the United States alone, Apple, TD Bank, Wal-Mart, and other leading companies installed over 3.2 GW of renewable energy between 2016 and 2017. Collectively, corporations invest over $220 billion in renewable energy each year. Their support for the solar industry is a win-win scenario, as it enables businesses to use the money they save on operating costs to grow and expand, and it extends job opportunities and business growth to the renewable energy industry as well.