Benefits of Going Solar for Businesses
The time for commercial solar is now. Tax credits, commercial solar incentives, and rebates exist at the federal, state, and local level – break even in as little as two to four years.
MODIFIED ACCELERATED COST-RECOVERY SYSTEM (MACRS) + Bonus Depreciation (2008-2012)
In December 2010 the provision for bonus depreciation was amended and extended by The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853). Under these amendments, eligible property placed in service after September 8, 2010 and before January 1, 2012 qualifies for 100% first-year bonus depreciation. For 2012, bonus depreciation is still available, but the allowable deduction reverts from 100% to 50% of the eligible basis.
FEDERAL COMMERCIAL TAX CREDIT
- Tax credit is equal to 30% of expenditures, with no limit.
- Eligible commercial solar energy property includes equipment that uses solar energy to generate electricity, to heat or cool (or provide hot water for use in) a structure, or to provide solar process heat.
MARYLAND MID-SIZED COMMERCIAL SOLAR ENERGY GRANT – Green, Smart and Growing
All projects must be installed by the end of October 2010 in order to receive incentives. Incentives are calculated according to the following schedules until the funding is exhausted:
- Solar Photovoltaic: $500/kW for systems between 20-100 kW up to $50,000 per grant
- Solar Hot Water: 15% of the installed system cost up to $1,000
NEW JERSEY COMMERCIAL SOLAR ENERGY GRANT
- Non-profit, government PV: $22,500
- Non-profit, government PV: 50 kW DC maximum
Reduce your operating costs and lower your energy consumption by going solar. Contact us today!