Transition your business to solar and lock in an electric rate lower than the utility.
Increasingly, business owners are finding that commercial solar power is not just a good move for the environment, but also beneficial for their company’s profitability and longevity. ReVision Energy has installed hundreds of projects in a variety of configurations for businesses all over New England, and our team is ready to bring the trifecta of solar energy benefits to you:
Going solar makes a powerful statement that the success of your company is in harmony with our environment and your local community. Now that’s good for business!
Making use of solar energy is a smart strategy for any business. By installing solar panels you can essentially lock in a low electricity rate for years to come, with a very favorable return on your investment.
Commercial solar power is not limited to corporate giants; installation prices have dropped by over 50% since 2015, and small businesses can easily attain solar installations that create significant savings.
Furthermore, it is a great opportunity, here at the heart of our country’s transition to renewable energy, to distinguish your business from others by leading in sustainability. By investing for your company, you will also be investing in the well-being of future generations. Additionally, many Americans are interested in supporting businesses that give back. Studies have shown that consumers, especially younger generations, will support brands and business that share their values about sustainability, community, and building a greener future.
ReVision is committed to supporting all businesses in the transition to a cleaner, solar-powered future. We have designed, installed, and expanded hundreds of commercial solar projects for businesses and organizations across New England. Our customers range from large manufacturing companies to family-run stores, from conservation centers to auto body shops.
Bottom line - solar works for your business, no matter the size, location, or industry.
Commercial Solar Power allows your business to generate clean electricity on its rooftop (or land) at a very predictable cost-per-kilowatt-hour that is generally less than currently paid to the utility. When the sun is out, the panels make power. When the sun goes down, your business consumes electricity from the grid. Grid consumption versus production is reconciled monthly and credits carry forward up to a year.
It's not just homeowners who can take advantage of state and federal financial incentives when transitioning to solar. In many cases the incentives for businesses and companies are even greater.
Depending on what state your business is in, you can take advantage of different credit programs and incentives when going solar. We've highlighted the most common ones below:
The cornerstone of grid-tied solar electric systems is the policy of net metering, where the utility is mandated by state law to purchase electricity generated by the business and to offer compensation (in the form of a credit) on future electric bills. There are limits to the size of a system which is net-metered, which varies state-by-state, though practical considerations (like how much solar fits on your roof) usually come up before state limits are reached.
The 30% ITC is the most significant tax credit available for solar energy systems, both solar hot water and solar photovoltaic. A business may take a credit (not deduction) of 30% of the purchase price of a solar energy system against an existing income or AMT tax liability.
More information: http://programs.dsireusa.org/system/program/detail/1837
Solar energy systems may be eligible for five year accelerated depreciation if claimed as business property under the federal Modified Accelerated Cost-Recovery System (MACRS). Businesses eligible to use this deduction typically see an additional savings of 20-26%.
More information: http://programs.dsireusa.org/system/program/detail/676
The Rural Energy for America Program (REAP) provides financial assistance to agricultural producers and rural small businesses in rural America to purchase, install, and construct renewable energy systems, make energy efficiency improvements to non-residential buildings and facilities, use renewable technologies that reduce energy consumption, and participate in energy audits and renewable energy development assistance.
These competitive grants are offered as much as twice per year and are available to businesses that meet the USDA’s definition of rural (under 50,000 inhabitants), while agricultural producers may be in rural or non-rural areas. ReVision Energy offers some support in the grant-writing process on a case-by-case basis. A USDA REAP grant may provide up to 50% of a project’s cost, with a cap of $500,000.
More information: http://www.rd.usda.gov/programs-services/rural-energy-america-program-renewable-energy-systems-energy-efficiency/me
Solar Renewable Energy Certificates (SRECs) or Solar Renewable Energy Credits are a form of Renewable Energy Certificate that are specifically met by solar generation assets. Every 1 MWh of solar generation generates 1 credit, which has a market value which fluctuates based on demand. These credits can be sold to utilities so that they can meet their requirements under an individual states’ Renewable Portfolio Standard (RPS) legislation. SREC value varies widely state-by-state based on size of the solar market and aggressiveness of solar goals under the state’s RPS.
Ready to bring the many benefits of solar power to your business? Get in touch with our talented solar advisor team or fill out the form below.