What if you discovered a natural gas deposit beneath your business? Would you invest in a well for access to free energy? With an average of more than 300 sunny days every year, Texas businesses have a unique opportunity to access an unlimited and totally clean power supply right above our heads.
Using Texas’ most abundant natural resource to cut energy costs and lock in predictable operating expenses can have a dramatic impact on your bottom line. It’s the reason that some of the world’s most successful companies are also leaders in commercial solar installations. An investment in solar just makes good business sense.
The Right Partner
There are many variables that make up a commercial solar purchase. Beyond solar technology alone, you must evaluate payment options, federal and local incentive programs, and even power utility requirements.
Our commercial solar team designs, installs, and maintains some of the highest-producing commercial solar energy systems in Texas. Each commercial system is custom-engineered to meet the unique requirements of each business. We take the time to carefully evaluate each company’s unique energy footprint in order to provide a list of options that meet your energy savings goal.
What You Need To Know
Going solar is a sizable investment for any business and there are a lot of variables to consider. That’s why education is a top priority for us and we try our best to provide resources to help with your own research. If you’re looking to cut energy costs, then we invite you to explore the following information so that you know all the benefits and value that solar can offer.
Commercial Solar Incentives Add Up To Big Savings!
Many of the world’s most successful businesses are going solar as a way to reduce operating expenses, and dramatically improve their yearly balance sheets. For companies like Walmart, Target and PepsiCo, it’s no longer a question of “If” solar will save them money, but how much and how quickly.
Despite this growing acceptance, most small and medium-sized business owners are still largely unaware of the numerous incentive programs available that can dramatically reduce the costs of installing their own solar energy plant.
Below is a quick summary of the most utilized commercial solar incentives. In addition to what’s listed below, a few local utilities offer incentive programs of their own that can be added to the options below for even more savings. Our commercial solar team can help you determine what’s available in your area. So read on, and learn how you can offset as much as 50% of a commercial solar purchase.
How It Works
26% Solar Investment Tax Credit (ITC)
Available to businesses and homeowners, this incentive will offset up to 26% of a solar purchase in the form of a federal incentive tax credit. To qualify, the business must have a tax liability upon filing. In other words, if the business owner is going to receive money back from their tax return, then the credit will not be applied for that year, and will simply roll forward. The 26% ITC is only available through the year 2022, after that the incentive drops to 22% for 2023 and then permanently to 10% for commercial projects and 0% for residential projects.
Local Utility Rebates
Some utilities offer their own solar incentive programs. It’s best to consult a local solar expert to determine the benefits available in your area. Austin Energy currently offers a Performance Based Incentive (PBI) of 4 cents per kWh produced for 10 years. While Oncor in Round Rock and Hutto offers a rebate up to $100K+ for businesses who install solar.
MACRS Investment Depreciation
Every commercial solar system qualifies for the Modified Accelerated Cost Recovery System (MACRS), which was established in 1986 as a method of depreciation in which a business’ investments are recovered, for tax purposes, over a specified period of time via annual deductions. Qualifying solar equipment is eligible for a cost recovery period of up to five years.
USDA REAP Grants
The Rural Energy for America Program (REAP) grant was established by the USDA to assist agricultural producers with renewable energy investments. This REAP grant is available in select rural towns across the country with a population below a certain threshold and covers 25% of a solar investment up to $500,000 for qualifying businesses.
There’s never been more help available to those businesses who’d like to start offsetting the rising cost of energy with their own solar power plant. Contact our commercial solar team to find out what’s available for your business. Act now before these and other incentives expire.
Contact us today for a free solar evaluation and to find out about additional programs in your area.