Solar Financial Advantages for Businesses
Would you make an investment if it had a return in only 2.5 years? Similarly, would a lifetime savings of $1.37 million sound appealing? If you could add $34,255 in sunk costs back into your budget, would you give yourself a raise?
Small and large commercial businesses alike see solar as a way to cut operational expenses, provide budget certainty, create energy resiliency, reduce tax liability, achieve sustainability goals, contribute to their community, fulfill supply chain requirements, and improve the company's brand image.
"My business saw a 3 year ROI and will save and estimated $1.57 million over the course of the solar array. With electricity rising, we couldn't afford NOT to install solar!"
A New Hampshire customer
What makes this possible?
Lower Operating Costs
You can immediately improve your bottom line by lowering (or eliminating) electricity costs by going solar.
Government Rebates and Credits
Local, state, and federal incentives could potentially at up to 40%-80% of your overall costs.
In 2019, businesses can deduct 100% of the solar system in the first year of operation.
Energy rates can change annually, monthly and in some utilities daily, making your energy bills go all over the place. With solar, your business can realize long-term stability. This is due to solar panels having a 40-year life expectancy AND a 25-year manufacturers warranty.
Genie Solar Energy’s dedicated commercial energy solutions expert will help you negotiate the best possible financing options for your solar project. As your advocate, we can source a variety of financing options and guide you in negotiations.
Do I need to pay cash?
Solar can be a tax play. Your tax appetite should certainly be factored into your decision on how to pay. An upfront cash payment is not the only way to take advantage of these incentives. If a tax appetite does not factor into your decisions, a power purchase agreement maybe a better option.
Do all systems receive the same tax credits?
No. All systems and products are not created equal. An IRS letter maybe necessary to verify eligibility. You should work with a solar expert AND your accountant to understand how solar will impact you.
Does my new roof qualify for tax incentives?
It varies. A new roof should be factored in to the system design if needed. A system design should be factored into a new roof.