The Benefits of Solar Electricity for Commercial Projects
A solar electric system is a wise and economical way to power your commercial facilities. Commercial solar energy is a great way for your company or commercial building to lower its operating costs, hedge against the rising costs of electricity generated from dirty fuels, and show environmental responsibility.
Solar Electricity will benefit your company by:
- Reducing your monthly operating costs
- Increasing the value of your business: as costs to operate decrease, value of asset increases.
- Protecting against rising costs of electricity.
- Generating valuable Renewable Energy Certificates (RECs)
- Demonstrating to your customers and your community that you care about the environment
In addition to all of these benefits, there are many local, state, and national rebates and incentives offered to make your solar electric system more affordable. Here are a few financial benefits you can take advantage of today.
- Net metering – Net metering offsets your electric bill when you generate your own solar electricity. You receive a credit from your power company if you produce more than you use that can be applied to future electricity bills.
- State Rebates – If your state offers a rebate for commercial solar systems, you can receive a cash payment based on the amount of electricity you produce. These rebates are first come first serve and will eventually expire.
- Federal Tax Credit – Commercial systems qualify for a federal tax credit of 30% of the gross value of the solar electric system.
- Cash Grant: for commercial solar electric systems placed into service in 2011, system owners can receive a CASH GRANT in lieu of the 30% tax credit.
- Bonus Depreciation: recent amendments entitles commercial solar owners with systems placed in service after September 8, 2010 and before January 1, 2012 to to recover capital expenditure costs faster by providing an additional first‐year depreciation of 100%.
- Property Tax Exemption – Benefit from the increased value solar adds to your business without paying more property taxes. Solar electric systems are exempt from property taxes in California and many other solar-friendly states.
- Power Purchasing Agreement – For larger solar systems, flexible energy purchase solutions are available, allowing your company to benefit from solar electricity without making the up-front investment.
- Balance Sheet Transfer: Installing a commercial solar electric will allow you to turn your variable electricity costs into a fixed cost on your balance sheet and reduce your long-term operating expenses.
Utilization of solar electricity not only delivers numerous financial benefits to your company, but can also be a terrific source of public relations and a unique marketing tool. You can promote this in your advertising and marketing materials. A growing number of consumers are now making buying decisions based on the environmental responsibility of the business. Demonstrate your environmental responsibility with a solar electric system.
