Energy costs in the US are skyrocketing, and there’s no end in sight.
Consumers paid 14.3% more for electricity in 2022 than in 2021, according to the US Department of Labor Statistics, and costs are expected to keep rising. To cope, America’s business leaders are looking for every opportunity available to tame inflationary costs and remain competitive. With a recent transition to solar energy, two Midwestern businesses did just that by stabilizing their energy costs and reinvesting significant savings back into their companies at the same time.
Based in Rockford, Iowa, North Iowa Fabrication is a metal fabricator that supplies crucial components to industries in the Midwest and beyond. Their new 225kw solar array is projected to produce nearly $400,000 in energy savings throughout the lifetime of the system. ASP Enterprises has locations throughout the Midwest and specializes in erosion control and stormwater management. Sized at 23kw, their new solar system is estimated to save the company nearly $100,000 over the next 25 years. Both new solar arrays will help these companies to meet their sustainability goals by preventing a combined total of more than 5,000 metric tons of carbon emissions over the coming decades.
Solar is a proven way to shield businesses from volatile energy expenses and increase property value at the same time. In today’s unpredictable economy, it’s a savvy strategic investment that helps companies remain healthy and competitive in the face of major challenges. To learn how solar can benefit your business, contact us today!