Reducing your energy costs to save money is one of the big points to go for commercial solar, but it has much more than that.
The majority of Commercial Solar Panels offer excellent returns on investment and pay for themselves in less than five years. If you want to gain a competitive advantage in your industry, then use commercial solar energy to become green and show your dedication to environmentally friendly power.
By lowering operational costs and increasing profitability, reducing your business's energy costs can dramatically improve its financial health.
Although every business is different, the savings from a solar investment offer long-term benefits, allowing your company to make the most of renewable and essentially 'free' energy.
The Commercial Solar Investment Tax Credit (ITC) presents a remarkable opportunity for businesses in South Carolina to benefit from a substantial 55% deduction in the overall cost of their solar project investment, serving as a credit towards their federal and state tax obligations.
In South Carolina businesses can qualify for the federal tax credit at 30% and the state tax credit at 25%; combined this would add up to 55% of the total project cost.
Commercial clients can further benefit from accelerated depreciation known as the Modified Accelerated Cost Recovery System (MACRS). Under MACRS, 87% of your solar investment can be depreciated over time. This depreciation benefit significantly reduces your taxable income, providing additional savings. The exact value of the depreciation value depends on the business’ effective tax rate and can range from 20-35% off the cost of the system in the first year.
The USDA Rural Energy for America Program (REAP) Grant significantly subsidizes the costs for solar energy systems in farms and rural businesses, potentially offsetting 70-90% of the total cost when other incentives are applied. Eligibility for this grant requires the applicant to operate within a USDA-defined rural area and to be categorized as a small business by the U.S. Small Business Administration. This initiative is an appealing financial opportunity for those aiming to reduce their operating expenses through sustainable energy investments.
Incorporating solar energy into your business not only demonstrates a commitment to innovation but also signifies your dedication to environmental responsibility.
Embracing solar as an investment showcases your business as a forward-thinking entity that is actively engaged in eco-friendly practices, aligning with the growing trend of sustainability in the corporate world.
Q Cells solar panels are considered one of the top-performance photovoltaic (PV) products for the residential, commercial, and industrial solar energy markets, as these panels are based on Q.ANTUM DUO technology
The cost of commercial-scale solar systems can vary based on factors such as location, system size, and specific requirements. On average, commercial solar installations cost around $1.66 per watt
Commercial solar panels typically generate around 600 to 900 kilowatt-hours (kWh) of alternating current (AC) per month.
There are many benefits to solar panel installation for businesses, including reduced operating costs, protection against inflation and rising electricity costs, and a lower carbon footprint
Commercial solar panels typically have a lifespan of 25 to 30 years, but it still depends on the type of solar panels used.