Guard Your Business Against A Recession with Solar & Storage
Guard your business against a recession with solar & storage
As inflation hovers around historic highs, and the Fed continues to raise its interest rates in an effort to stifle it, more and more economists believe the U.S. is headed for a recession sometime early next year. Depending on how you define a recession, the economy is technically already receding, with two sequential quarters of declining GDP. However, a whirlwind of economic and geopolitical factors have many thinking that the real problems are yet to come: Prices rise, companies are forced to cut fat, and people lose their jobs.
How can you guard your business against the drains that open when a recession hits? There is an effective, simple buffer to help your company stay afloat now – and set it up to flourish in the future: reduce inflationary operating expenses with onsite solar and battery storage.
The Sun: A stable source of savings
An onsite solar system can reduce or eliminate your business’s exposure to rising electricity rates. Once installed, your business’ daytime electricity costs are locked in anytime your system is producing energy; in fact, the higher electricity rates go, the more your savings grow with solar! This frees up capital for your business in the immediate term, helping you to cover all of your other expenses. For businesses that have a monthly nut to crack, this can be a game-changer - especially if you can use the extra cash for your 24/7 operations, like nighttime power, or all-day refrigeration.
Compound your economic defenses with battery storage
To ensure you maximize the value of your solar system, we often recommend adding battery storage. In doing so, any solar energy that is not immediately consumed by your facility is stored, and later discharged to offset peak energy events that would otherwise trigger costly demand charges. If your business consumes energy outside of daytime hours when solar is plentiful, the stored energy can also offset loads that occur at night, further reducing your facility’s exposure to rising electric rates. With inflation impacting energy, costly demand charges that can represent more than 50% of your utility bill, and an increasing need to be protected from grid outages, there isn’t a better combo than battery storage and solar - they go together like peanut butter and jelly.
A holistic approach with Promise Energy
While solar and storage can play significant roles in reducing energy costs, you’ll get the most value out of your energy upgrades through a holistic approach to your energy systems. Much like a living organism, a building comprises many systems operating in tandem and in parallel, each contributing to your business’s operations. Money-saving energy investments aren’t just limited to renewable energy; businesses can integrate more efficient technologies like combined heat and power (CHP), and absorption chillers and lighting upgrades.
Before doing anything, your first step should be a comprehensive energy analysis, conducted by a firm with experience in all relevant technologies - not just solar and battery storage. This ensures your investment addresses all areas of exposure and maximizes savings, ROI, and long term value.
If you’ve been considering energy upgrades, there has never been a better time to explore your options. Government incentives are at an all time high, energy costs are skyrocketing with no end in sight, and the race is on to reduce our collective carbon footprint while becoming more energy resilient. There are even 100% financing options that offer savings on day one.
To that end, reach out to the Promise team and request your complimentary energy analysis. Our energy experts will guide you through our holistic systems approach, and ensure you have all the information you need to make an informed decision.
Ready to see how you can help support your business with energy upgrades? Contact Promise Energy at info@promiseenergy.com for a complementary evaluation.
At Promise Energy, we don’t believe that one size fits all. We pride ourselves in designing and installing customized energy solutions that provide the greatest long-term value and energy control for our customers.