Depending on the size of your business building, you may be paying a pretty penny for electricity costs. But, when you make the switch to commercial solar panels, you can create increased returns, decreased operational costs, and decreased reliance on an unpredictable energy market. With this in mind, there are also incentives for businesses to invest in commercial solar installation.
- Federal Tax Credit (ITC): As a commercial business choosing to go solar in 2020, you can expect a federal tax credit of 26%. However, in 2021, this decreases to 22% and in 2022, decreases to 10% for commercial businesses. The choice for commercial solar is now!
- MACRs Depreciation: This is a tax tool which business can use to recover some of their costs from the commercial solar installation. Please speak to your accountant to learn more about reducing tax liability and increasing ROI.
- Performance-based Incentives (PBIs) & Local Incentives: After you complete the install, your company may be eligible for SRECs, local incentives, and state tax credits.
Clearly, it’s time for any business in the US to go solar . After all, doing so is the preferred & socially responsible choice that companies across the nation are making. Your customers are more likely to buy from a ‘green’ company. Contact Alliance Solar to discuss your options with our team today!