Is solar power a good investment for your business?
Updated: Jun 22, 2020
As advances with data ramp up power usage in the server room, and companies face increasing pressure from their customers to prove themselves ‘green’, progressive thinking organizations across all industries are increasingly exploring ways to cut their carbon footprint, and drive cost-saving operational efficiencies at the same time— one of those lies in solar power.
Allowing individuals and companies to deduct 30 percent of the cost of installing a solar energy system from their taxes, the US passed the solar Investment Tax Credit (ITC) in 2006 and saw a wave of investments in green technology. While US organizations can expect to see a decrease of the credit after 2019, it’s not deterring investments as the technology continues to be further developed.
As it advances, solar technology is dropping in price and becoming more productive, which is attracting continued interest among businesses looking to cut down on costs. In Europe, researchers from the Institute for Advanced Sustainability Studies (IASS) revealed that solar and wind energy could produce up to four times the power needed by Europe.