How Small Businesses Can Reduce Operating Expenses with Solar

Solar Power was invented in 1955 and NASA has been using solar for decades to power satellites. With technological advances solar energy is available to business owners as the cost of solar has drastically decreased. In New Jersey, we have strong State and Federal incentives that can accelerate solar payback to as little as 3-6 years. These incentives are only around for a limited time and are decreasing over the next few years, so you must act now to fully realize their benefits. 

You can sustain lower energy costs with solar for a period of 25 years, hedging the energy price from the utility. Think of it like this, current gasoline prices are about $2.80-/gallon on a National average. If You would have installed solar to produce 100% of your electricity needs in 1996, how much extra money would you have now? You now have a free source of power for 25 yrs. This is why many fortune 100 companies are investing in solar.

 Ways Solar Pays Back

1. Sunlight is Free — Companies including Microsoft, Amazon, Google, Apple, and IKEA are investing in solar projects for the energy savings and environmental impact. Solar is technology that makes electricity from sunshine. Don’t believe it? Just ask NASA. They power their satellites and the International Space Station with solar and have been for decades.

2. State Incentives— Some states have incentives such as fees in tariffs, some have Solar Renewable Energy Credits (SRECs). Rebates are offered by the utilities for the energy produced by solar power systems. When you put solar on your roof, parking lot or grounds you get paid by the power you produce hour. The more you produce, the more you are paid. 

3. Federal Incentive Tax Credit(ITC) — 30% tax credit based on system cost utilized in the first year of system operation. The ITC applies to both consumers and businesses. It will decline starting in 2020 and ratchet down to 10% in 2022 for business and 0% for consumers. Don’t wait! Act now!

4. Accelerated Depreciation(MACRs Depreciation; 30% of system value) — When you buy equipment you get to depreciate the value of that equipment over time. Solar enjoys accelerated depreciation which is 30% of the project cost depreciated over 5 years. The new 2108 tax law may allow you to depreciate the system 100% year 1. Each business has their own tax liabilities please Co Solular with your tax advisor to customize your savings. 

At the end of the day Solar Cents educates and assists business owners to reduce their operating expenses and green their infrastructure with solar power. A properly sized system can reduce your power bill by 95%. To see your customized savings report and ROI with payback period for your business call us today.

Book your strategy session Now:https://go.oncehub.com/solarcents

Chris Gorga at 973-968-5196

or by email at [email protected] for more information.

Because Remember Solar Makes Cents!