Investing in solar energy systems for your business will substantially reduce your monthly electric bill for the next 25+ years, while also reducing your tax burden with depreciation for the next six years. When paired with the current incentives, installing solar can pay for itself in under 5 years, and continue providing reduced overhead for two or three more decades. What would your company be able to accomplish if they didn’t have to pay their utility bill?
Commercial Solar Incentives at a Glance
Solar panel installation incentives are available and better than ever. You can easily recoup most of your installation price by taking advantage of the available incentives for your business. On top of all of these incentives, of course, is eliminating or reducing your energy bill substantially.
Federal – 30% Federal Tax Credit. Scheduled to drop to 26% December 31, 2019, with 4% drops every year after. 4% of a commercial project is a hefty chunk of change – don’t leave that money on the table! Available to anyone and everyone with plans to go solar.
MACRS Depreciation – That’s right! You can claim depreciation on your solar energy installation. To find out more, click this sentence to read SEIA’s article on claiming depreciation.
Illinois – Commercial incentives are currently in a lottery program and vary based on system size. In our experience, we’re finding roughly 40% of the system cost is returned to the customer.
Missouri – $0.25 / Watt. That can be confusing, but think of it like this. 100kW would be $25,000. The percentage of this incentive will vary based on the size of your system, and in our experience equates to roughly 15% of a system’s cost.
Benefits of Solar for Your Business
Consumers are consistently trending towards a divestment in companies propped up by fossil fuels. More and more, we’re seeing consumer-based activism by voting with the dollar. If you aren’t one of the first companies in your industry to go solar, make sure you aren’t one of the last! Solar is a fantastic opportunity to showcase your company’s dedication to a brighter future.