Did you know there are solar tax incentives that allow your business to save big with solar energy? The Sundog Solar team can help you take advantage of this outstanding opportunity! Sundog Solar also offers financing for small commercial solar systems.
Solar Investment Tax Credit Saves You 26%
There is a generous federal tax credit that lowers the total cost of a renewable energy system by 26%. This money-saving opportunity is available for both residential and commercial solar energy installations in Maine.
Tax credits are a dollar-for-dollar reduction in income taxes owed and are therefore more valuable for the taxpayer than a write-off. Qualified expenses include the cost of the solar panels, inverter, components, and the solar installation.
Installing a solar system on your business can qualify you for the Solar Investment Tax Credit. For example, if you install a $10,000 solar system, the tax credit would reduce the total net cost of the system by an estimated $2,600. In addition, you may be able to take a 5-year accelerated or bonus depreciation for the system. Speak with your tax specialist to determine if you qualify.
Power Purchase Agreements for Organizations and Municipalities
Get solar panels installed by Sundog Solar and pay only for the solar energy they produce. With our solar Power Purchase Agreements (PPAs), a third-party owns the solar system and is responsible for all system maintenance. You agree to buy the solar electricity for a predetermined price, for a given timeframe. Sundog Solar installs state-of-the-art solar equipment and is here to help every step of the way.
Our PPAs are ideal for non-profit organizations, schools, and municipalities that want to go solar but don’t qualify for the federal solar tax credits. Most agreements involve purchasing the solar system after a certain length of time for a specified price.
Cost of a Solar System
When evaluating solar system costs, there are three primary considerations:
Cost of the solar system
Government incentives for clean energy
Return on Investment
The price of solar energy has declined significantly in recent years for both residential and commercial systems. This is because the cost of solar panels and other components have plummeted in recent years. The price of your solar energy system will depend on how much electricity you need and how and where the solar panels will be installed.
Government Incentives for Solar Power
The Federal Tax Credit for solar system was extended for five years and is good news for Maine home and business owners. The tax credit can reduce the net cost of a solar energy system by 26%! Commercial systems may also qualify for accelerated depreciation or bonus depreciation of the solar system. Speak with your tax expert for details.
Sizing Your PV System
The Sundog Solar team begins sizing your solar panel system by looking at your business’s electric bills to calculate the total amount of power you consume. If you provide this information to one of our solar PV experts, we can estimate your solar system cost and potential savings. The solar energy system size can also be influenced by the amount of roof space you have, your tax write-off appetite, how much of your bill you would like to eliminate, and your overall project budget.
Solar Energy Savings
Net Metering allows utility customers to save money by earning credits for each kilowatt produced above their kilowatt usage for the month. Credits are used during lower production periods and are good for 12 months. Customers pay a minimum monthly charge and have access to utility power when needed but will not be reimbursed for unused credits if they expire.
Thanks to strong federal incentives for clean energy, there’s never been a better time to invest in a commercial solar powered system in Maine. There is a 26% federal tax credit given for the entire cost of your solar electric system. There is also an accelerated 5-year depreciation and bonus depreciation available!
Sundog Solar – Maine’s Expert Solar Installation Team
We are helping business and organizations from Portland to Augusta, Bangor, Ellsworth, Calais, and beyond to slash their utility bills and benefit our environment. The Sundog Solar team uses innovative solar panels and equipment by SMA, Pika Energy, LG, Schneider Electric, Solaria, and SolarEdge. We work as a team to truly serve our customers and get every commercial solar energy installation done right!
Want to learn about solar panels for your business? Call Sundog today at 207-548-1100.