Want to decrease your operating costs while decreasing your carbon footprint? In this post, we explore the costs and benefits, both financial and environmental, of getting rooftop solar installed for your business.
While it’s true that FedEx, Apple, Google, and Costco have all invested in rooftop solar, your business doesn’t have to be a multimillion dollar corporation to benefit from a solar photovoltaic system.
Take advantage of the 30% Federal tax credit before it’s too late!
If you get your system installed before the end of 2016, you can take advantage of a 30% Business Energy Investment Tax Credit on your whole rooftop solar PV system (including the installation). Make sure you install solar PV by the end of 2016, because starting 2017, the tax credit will drop to 10%.
The cost of a solar PV system has fallen by over 50% since 2007. All the while, electricity prices have been skyrocketing in many areas of the country. That means your operating costs related to energy have been increasing, and will continue to increase. The Federal tax credit isn’t the only program you can utilize when you install solar PV for your small business, especially in Massachusetts.
Massachusetts utility companies are required to get a certain percentage of their power from solar power and so the utilities with buy your Solar Renewable Energy Certificates (SREC) as a way to count your renewable production in their portfolio. Excess electricity can also be sold back to the utility company through a program called Net Metering. Also, Business owners who invest in a solar power system can take advantage of accelerated depreciation of that system, which allows for greater deductions in the earlier life of the asset. Find out more about current available incentives at the Database of State Incentives for Renewables and Efficiency.
A solar PV system also pays off very quickly, often in less than 6 years, depending on your location and current electricity usage. And when it comes time to sell your property, you’ll have an easier time selling and get a better price because a PV system increased the resale value of your property.
What makes a location good for solar?
First, you must own your roof or get permission from the owner to install a rooftop solar system. Southern exposure and little shading are best. If there are many obstructions on the roof we can strategically allocate the panels with multiple inverter locations to maximize yield. 35-40 degree roof angle is also preferred.
How does free electricity sound for 40+ years sound?
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