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Purchase with Cash

By taking advantage of the state and federal incentives being offered right now, a business can typically pay off of the cost of a solar electric system within 2 to 6 years.

Current incentives:

  • Federal Investment Tax Credit (ITC) - Business owners will receive a cash grant equaling 30% of the net installation cost within 60 days of the system's completion.
  • Depreciation - Available in 2011 only, any investment in a solar power generating system may be written off in its entirety at the end of the year - as if it was an operating expense and not capitalized. This amounts to about 30% of the cost (on top of the 30% being offered through the ITC). Starting in 2012, investments will revert to only be eligible for accelerated depreciation (5 year MACRS).
  • Sales of Solar Renewable Energy Certificates (SRECs) - These solar energy attributes represent 1,000 kilowatt hours of electrical production. Businesses can sell the SRECs they accumulate each month, providing an additional source of income to help reduce the cost of the solar system. Learn more about SRECs.
  • Energy Savings - A solar electric system will reliably produce electricity during daylight hours and reduce your electricity bills for more than 30 years. The more energy bills increase in the future, the more you'll be saving!