Maine Solar Solutions works with commercial clients to assess their renewable energy needs.
We provide systems design, procurement and installation services. For larger installations Maine Solar provides project management to coordinate engineering, procurement and installation services of both in-house and subcontracted service providers.
The Financial Benefits of Solar Electric:
Federal Tax Credit – Commercial solar electric installations are eligible for a Federal Investment Tax Credit (ITC) for 30% of the solar system expenditures. Furthermore, commercial entities may utilize an accelerated depreciation schedule for the solar equipment.
Accelerated Depreciation – Solar systems are usually eligible for five year accelerated depreciation if claimed as a business expense. If you are eligible, this deduction can reduce your tax liability by as much as 34% of the system cost.
Given the time value of money, solar system owners will realize a rate of return increase by maximizing depreciation in the first year (the more a company can expense, the less paid in taxes for that year). Several small businesses have also elected to use Section 179 expensing (also extended and enhanced by the American Taxpayer Relief Act of 2012) to write off their solar investments, reduce their income taxes, and enjoy the benefits of a long term energy saving asset.
Reduces Operational Costs – PV systems produce reliable clean energy during the times most business need it the most. Power that isn’t utilized is fed back to the utility producing a credit that can be applied against power that is obtained from the utility during periods of high demand or low production. Commercial enterprises invest in PV system in order to help lower operational costs and increase profits.
Improves Bottom Line – Along with savings in energy costs, it provides a great defense against energy inflation. Investing in a PV system allows a business to fix the cost of electricity for 30 or more years.
Solar offers predictable energy production for 20-40 years, allowing a company to hedge against utility price volatility and inflation. Fixing the cost of electricity allows companies to provide accurate long term energy plans and budgets.
With the offsetting of inflation the system ultimately is providing an investment that allows for a tax free revenue stream, money saved is money earned with interest. So if your company has a standard investment making 10% a year after taxes (15% tax bracket) that really is an interest rate of 8.5%. With Solar, you can take the full return as it doesn’t get taxed if it is simply offsetting money that would have been payed to the utility.
Please consult with your tax professional to confirm your company’s eligibility for the federal incentives
Increased Property Value – Solar increases a building’s value by as much as $20 for every dollar it generates in a year making your business worth more money.
Provides Marketing Opportunity – Customers appreciate your businesses’ commitment to sustainability, clean energy and to reduced environmental impact.