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SOLAR INCENTIVES

THE REAP GRANT

Rural Energy for America Program (REAP)

Another lucrative commercial solar incentive to reduce your solar system cost is the REAP grant. If you’re a agricultural producer or rural small business, this grant is a great opportunity for you. There is a formal process to apply, but thankfully, the best commercial solar installers (like Genie Solar) can help you through the process.

What is the REAP grant?

The REAP grant was created in 2008 as part of the Renewable Energy for America Program with the goal of promoting renewable energy and energy efficiency. The REAP grant provides financial assistance to farmers, ranchers, and small businesses who want to invest in renewable energy projects. Projects eligible for funding include solar, wind, biomass, and geothermal systems. To date, the program has awarded over $700 million in grants and loans.

How much money can be awarded by the REAP Grant?

The amount of the grant depends on the size of the project, but it can reduce the cost by up to 40%, with a maximum award of $1 million. This makes the REAP grant an essential part of making commercial solar projects feasible. In addition to the monetary benefits, the REAP grant also helps to promote renewable energy and its many benefits. By investing in commercial solar projects, not only will companies be able to drastically decrease their energy expenses, but we can help to reduce our reliance on fossil fuels and make a positive impact on the environment.

Who is eligible for the REAP Grant?

The REAP Grant is available to businesses, agricultural producers, and non-profit organizations who install commercial solar systems. To be eligible, businesses must have less than $20 million in annual revenue and be located in a rural area. Agricultural producers must have less than $1 million in annual revenue. Non-profit organizations must have a 501(c)(3) designation from the IRS. If you meet these requirements, you may be eligible for a REAP Grant. Talk to the team at Genie Solar, we can review the eligibility requirements and even submit the application on your behalf.

Genie Energy Ltd., (NYSE: GNE, GNEPRA) is a global energy solutions company. We supply customers in the US and Europe with electricity, including electricity generated from renewable resources and with natural gas. Through Genie Solar Energy and Prism Solar, we design, construct and install commercial solar energy solutions. We provide commercial and industrial clients with energy brokerage and consultative services through our Diversegy brand.

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Bake Crafters’ commercial solar array is a remarkable example of sustainability in action. With an output capacity of 800 kW and predictions of offsetting 770 metric tons of CO2 emissions.
Integra Biosciences
Integra Biosciences’ Commercial Solar project achieves 22% IRR and aligns with the company’s global sustainability goals and commitments. The two installations total 572-kW and generate enough power to offset 844,000 kWh.
Commercial Solar Case Study – Kraft Power Power
Kraft Power utilized American made solar panels to install a 57.5 kW system on their roof. The new rooftop solar system, will help Kraft Power offset 100% of the electricity usage every year.
Commercial Solar Case Study – Cardoza Flooring
The flooring company has built a commercial solar system to offset 100% of their electricity at their showroom and distribution center in NH.

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Convinced to go solar by the New Jersey incentives, PCS Wireless looked at several solar companies to provide the best overall value. Genie Solar was able to design a unique system to offset the largest portion of their electricity usage. Additionally, we combine it with an exclusive financial product which minimized the cash out of pocket and maximized the return on investment. The 494 kW system was constructed in minimal time, with no impact on the businesses operations.

PCS Wireless

A provider of engine-generator systems, Kraft Power was a pioneer of “Total Energy” (Combined Heat and Power). After seeing the financial and green benefits of solar at their headquarters in Massachusetts, Kraft wanted to capitalize on the lucrative state incentives in New Jersey at a distribution center. By installing a 57.5 kW system on the roof they were able to offset 100% of their electricity usage, take advantage of the Investment Tax Credit, accelerated depreciation, and collect revenue from the New Jersey SREC program. Genie Solar made it a smooth process and limited the need for internal resources to manage the project.

Kraft Power

A premier provider of water treatment in the New York and New Jersey area, Tower wanted to go solar to save money and generate clean energy. Upon reviewing the financial benefits available in New Jersey with the SREC program and the federal Investment Tax Credit, they wanted to safe harbor the project in 2019 and construct in 2020. Buying American Made panels was an important component of the project, and by utilizing their white roof, Genie Solar was able to leverage Prism Solar’s bifacial panels to minimize the square footage needed and maximize the electricity generated. Genie Solar helped them achieve all of their goals in an efficient manner with a 44.6 kW system.

Tower Water

Cardoza had both a showroom and a distribution center with exorbitant electricity costs in New Hampshire. As a legacy business, it was important to reduce costs and protect the business from increasing expenses prior to passing it on to the owner’s children. The show room’s roof and location made it a less than ideal location for solar; but the vast roof and direct sunlight on the distribution center could generate enough solar to power both facilities, plus the owner’s house. Leveraging New Hampshire’s group host program, Genie Solar built one 99.7 kW solar array to power all three locations. The owner is now considering converting more equipment to solar and building a second array.

Cardoza Flooring

A destination nursery in rural New Hampshire, HBTSR was a long standing customer of Genie Solar’s sister company, Diversegy. After helping the business reduce electricity expenses for the past number of years, HBTSR turned to Genie Solar to reduce their rising electricity expenses over the long run. “Between the federal and NH state incentives, I was paid $8,000 to install my solar array. On top of getting money back, I am going to realize over $300,000 in savings during the 25 year warranty period of the solar array.”

House By The Side of the Road