Commercial Solar Power Incentives

Many states also offer tax credits for solar.

Commercial solar power incentives.

Commercial solar incentives add up to big savings many of the world s most successful businesses are going solar as a way to reduce operating expenses and dramatically improve their yearly balance sheets. Arizona and massachusetts for instance currently give state income tax credits worth up to. This page describes some of the support available to help finance or accelerate payback time of a commercial solar power system. Payment rate is determined by the date on which the renewable energy system is certified.

In addition find out what solar programs and incentives are currently available for your home business or institution. The green bank solar ppa power purchase agreement incentive enables commercial properties nonprofit organizations and municipal and publicly owned institutions to switch to solar with no money down. However the experts agree that massachusetts is an excellent location for solar systems. The itc applies to both residential and commercial systems and there is no cap on its value.

The maximum commercial annual incentive payment is 25 000 year. Solar systems larger than 12 kw are classified as commercial unless they are installed as a community solar project. If you participate in this incentive the green bank or one of their partners develops and installs your solar project. Commercial solar rebates grants incentives switching your company on to solar power can be even more cost effective if you re able to access any of the grants rebates and other finance options available.

Solar incentives available to homeowners businesses investment tax credit for solar the federal government provides a solar tax credit known as the investment tax credit itc that allow homeowners and businesses to deduct a portion of their solar costs from their taxes. This section describes the different types of solar energy and how they are used in massachusetts. The federal solar tax credit also known as the investment tax credit itc allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.