Businesses have the strongest case for tapping incentive programs and lowering energy bills with solar installations. While costs continue to fall, solar incentives have risen to be more powerful than ever, especially for businesses. Retail, office, warehouse, agricultural, industrial, and institutional facilities all qualify for a 30% tax credit for commercial solar projects. Commercial projects have received over $5,000,000 in federal incentives on solar investments in just the past three years.
Tax benefits of 50% or more are still available for businesses that go solar this year. Combine a generous 30% tax credit with rapid depreciation, and realize upfront savings of 50% or more on a power grid or backup solar electric unit. This is in addition to a property value increase, reduced energy risks, and lifetime energy cost savings of tens or hundreds of thousands of dollars. More and more Fortune 500 companies are choosing solar as a wise investment and a strong that makes a strong statement about sustainability. Local businesses can also follow in their success.
Work in a rural area or outside of an urban center?
The popular Rural Energy for America Program (REAP) has provided grants of 25% on eligible solar energy systems installed for rural businesses for many years. Commercial projects eligible for this program should visit Solar Alternatives for assistance in the grant process.