Sun City Solar Commercial Solar System Installation
A Sun City Solar Commercial Solar System Installation can be an excellent investment for a business. With the combined savings from the 26% Federal Income Tax Credit, MACRS Accelerated Depreciation, and monthly utility bill reduction, many commercial systems have a payback of 5 years or less.
Benefits of Commercial Solar Installation
• 26% Federal Income Tax Credit
The 26% tax credit, also known as the Investment Tax Credit (ITC), allows businesses that install a solar power system a 26% tax credit on the total cost of the system. There is no cap on the amount a company can claim as a tax credit. In addition, the ITC may be rolled forward into the following tax years if it is unused in the current tax year.
• Net Metering
Net energy metering is a special billing arrangement that provides credit to businesses with solar PV systems for the total retail value of the electricity their system generates. Under net metering, the customer’s electric meter keeps track of how much electricity is consumed by the business and how much excess electricity is generated by the system and sent back into the electric utility grid.
Utilities will “net” the difference between the energy consumed from the grid and the excess energy sent back into the grid. If the business consumed more than it generated, the homeowner pays for the usage on their monthly bill. However, if the company generated more energy than it consumed during the month, the business only pays the monthly service charge, and the excess “energy credit” is carried forward to be used next month.
• Accelerated Depreciation (MACRS)
MACRS Depreciation is an economic tool for businesses to recover certain capital costs over the solar equipment’s lifetime. A commercial solar installation allows companies to deduct the appreciable basis over five years reduces tax liability and accelerates the solar investment rate.
• Reduce Operating Costs
A Sun City Solar Commercial Solar System Installation on a business can have an immediate impact on the bottom line. Reducing or eliminating the monthly electric bill means reducing operating costs. In addition, producing its electricity helps insulate a business from future utility rate increases.
• Meter Aggregation
Does your business have multiple locations? Meter aggregation is the ability to cover the usage of multiple utility meters with one solar array. If you have multiple business locations or buildings on separate meters, Sun City Solar can design a system installed on the best location for solar production and push any excess credits produced to other meters on buildings/property you own.
Not all locations are great for solar production due to potential shade issues or lack of available roof/ground space. Selecting the best location for solar output and aggregating multiple meters allows Sun City Solar to design a system that can maximize energy production while eliminating the cost of installing an individual plan on every property.