15 Feb Maine Sport Outfitters Installs 182 Solar Panels
Maine Sport Outfitters recently partnered with Sundog solar to install a large solar system on its flagship store in Rockland. Stuart and Marianne Smith now own a 61.9 kW solar system.
“This project reflects Maine Sport’s commitment to our natural environment, as well as supporting the business’s long-term financial health,” said Smith. “This is truly a win-win effort for Maine Sport. Both Sundog and First National Bank were instrumental in making this project possible.”
Maine Sport Outfitters is able to take advantage of the 30% federal tax credit and accelerated depreciation, allowing for a 6-year return on investment. The Smiths can then benefit from decades of free renewable energy.
“Starting in 2020, the federal solar tax credit for solar power is being phased out,” says Danny Piper, co-owner of Sundog Solar. “The same solar system would receive a 26 percent tax credit if it were installed in 2020, or a 22 percent tax credit in 2021. There is also a bonus depreciation or accelerated depreciation available to solar-powered businesses. The tax benefits of going solar this year are incredible but the tax credit will begin decreasing over time.”
To maximize the financial value of the solar system, it will also produce electricity to six other electrical accounts. The solar system is also a great way to leverage positive publicity as many customers appreciate Maine Sport Outfitter’s committment to clean energy and the local economy.