incentives
tax & other incentives
States and the federal government are showing businesses how important solar power is by offering several tax incentives to businesses investing sustainable energy. Here are some of the top incentives available to businesses:
federal business energy tax credit
Businesses that install solar electric systems are eligible to receive a tax credit for expenditures for solar technologies. For systems placed in service by December 31, 2016, the tax credit is 30%. There is no maximum credit limit for solar energy systems.
Read more about the Business Energy Tax Credit here.
federal renewable energy grant
Businesses that install solar electric systems in 2009 or 2010 may be eligible to receive a cash grant from the Dept. of the Treasury for 30% of the basis of the property. There is no maximum credit limit for solar energy systems.
Read more about the DOT Renewable Energy Grant or apply online here.
california property tax exemption
In 2005 legislators voted to extend the exemption on property tax for solar systems installed before December 31, 2016. The entire system value is exempt from property taxes.
Read more about the California Property Tax Exemption here.
modified accelerated cost-recovery system (macrs)
Under the Modified Accelerated Cost-Recovery System (MACRS), businesses can recover investments in certain property through depreciation deductions. For solar power systems placed in service after 1986, the current MACRS property class is five years.
Read more about the MACRS here.
renewable energy credits (recs)
Businesses that choose to install solar electric systems may sell the credits for the "clean" electricity generated by their solar system to an entity that wants to offset their "dirty" electricity usage. Businesses that choose to sell their REC's still retain the benefits of lower electricity bills, tax incentives, rebates, and net metering.
Contact Solar Development Inc. to learn more about RECs.
net metering
When your solar electric system generates more electricity than is being used at any given moment, this excess electricity is fed back into the power grid and your meter spins backwards. Think of it as your solar system erasing your unbilled usage! If you are consuming more electricity than the solar system is generating, the power grid will supply the remaining electricity. So each month you will only be billed for your "net" usage. Utilities are required to offer net metering under California law, and many utilities in other states offer it as well.
Check with your electric utility for specifics on their net metering policy and billing options.
States and the federal government are showing businesses how important solar power is by offering several tax incentives to businesses investing sustainable energy. Here are some of the top incentives available to businesses:
federal business energy tax credit
Businesses that install solar electric systems are eligible to receive a tax credit for expenditures for solar technologies. For systems placed in service by December 31, 2016, the tax credit is 30%. There is no maximum credit limit for solar energy systems.
Read more about the Business Energy Tax Credit here.
federal renewable energy grant
Businesses that install solar electric systems in 2009 or 2010 may be eligible to receive a cash grant from the Dept. of the Treasury for 30% of the basis of the property. There is no maximum credit limit for solar energy systems.
Read more about the DOT Renewable Energy Grant or apply online here.
california property tax exemption
In 2005 legislators voted to extend the exemption on property tax for solar systems installed before December 31, 2016. The entire system value is exempt from property taxes.
Read more about the California Property Tax Exemption here.
modified accelerated cost-recovery system (macrs)
Under the Modified Accelerated Cost-Recovery System (MACRS), businesses can recover investments in certain property through depreciation deductions. For solar power systems placed in service after 1986, the current MACRS property class is five years.
Read more about the MACRS here.
renewable energy credits (recs)
Businesses that choose to install solar electric systems may sell the credits for the "clean" electricity generated by their solar system to an entity that wants to offset their "dirty" electricity usage. Businesses that choose to sell their REC's still retain the benefits of lower electricity bills, tax incentives, rebates, and net metering.
Contact Solar Development Inc. to learn more about RECs.
net metering
When your solar electric system generates more electricity than is being used at any given moment, this excess electricity is fed back into the power grid and your meter spins backwards. Think of it as your solar system erasing your unbilled usage! If you are consuming more electricity than the solar system is generating, the power grid will supply the remaining electricity. So each month you will only be billed for your "net" usage. Utilities are required to offer net metering under California law, and many utilities in other states offer it as well.
Check with your electric utility for specifics on their net metering policy and billing options.
tax & other incentives
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