We can help you find the best way to invest in your future energy savings while benefiting the environment. We cannot give you tax advice so you should consult your own tax advisor, but here are some of the financial benefits other businesses have received from investing in solar.
Federal Tax Credit
If you purchase a solar system for your business, your business could receive a tax credit equal to 30% of the cost of the solar system. This is a credit, not a deduction, so the taxes payable by your business or its owners will be reduced by an amount equal to the credit, enabling your business to recover 30% of its investment in solar on its federal tax return for the year of the investment.
Your solar system qualifies as 5-year property under the Modified Accelerated Cost Recovery System (MACRS), enabling your business to depreciate the entire adjusted basis of its solar system in just five years even though the expected life of the system is much longer.
Your state or local governments or even your local utility may offer tax credits, renewable energy credits, grants, tax abatements or other incentives that can make an investment in solar even more powerful financially. We can help you identify and apply for these incentives, which will vary based upon the location of your business.
Ownership of a solar power generation system will provide the quickest and highest returns on investment to your business. We will work directly with you to identify any government incentives, rebates, and tax credits you may receive for your purchase. Our solar services have incredible financial and environmental benefits, and we are committed to bringing solar into your business while respecting your budget. We can also help your business obtain financing for its investment in solar.