More and more businesses are looking to solar for energy every day. PG&E, Apple, Walmart, and Warren Buffet’s Berkshire Hathaway looked to solar power to save money, or make money, depending on how you look at it. Why do some of the most profit driven companies like solar? Because it can reduce electricity rates and lock them in for the future and when purchased, solar can even reduce your tax burden through IRS tax incentives and depreciation schedules. Businesses that go solar now and plan for the future are receiving substantial benefit. Allterra Solar will evaluate your business for solar for free so why wait; life rewards action and initiative.
Here are a few incentives to pick up the phone and go solar:
Reduce Electricity Costs
Most businesses pay their monthly PG&E bills with out ever thinking about the electricity rates and rate structures. In many instances companies can even have electricity costs go up with out using more electricity. Solar electric systems help businesses control their energy costs by producing clean electricity when it is most expensive, during business hours. Why purchase electricity at the highest rate if you can create your own and turn the meter backwards?
Protect Your Business from Rate Increases
Average retail price of electricity for commercial use continues to rise. From July 2013 to July 2014 average retail price of electricity rose 6.2% in California (US Energy Information Administration). Businesses can protect themselves from the volatile energy markets and use solar to lock in a lower rate for the future. Watch your savings grow with time as electricity rates continue to rise and potentially spike with climate regulation and infrastructure improvements on the horizon.
Government Rebates & Incentives
The United States, California, and San Francisco and Monterey Bay organizations are all working together to mitigate the affects of climate change and transition to cleaner sources of energy. Here are some financial incentives for businesses to go solar:
- Tax Credit: When businesses purchase a solar system the cost of the solar equipment and labor to install it are all eligible for a 30% tax credit. That means 30% of the solar system cost is given right back to you in the form of a tax credit.
- Equipment Depreciation: Solar equipment is a depreciable asset, meaning the equipment can be depreciated over time to reduce your taxes.
All in all, businesses save money with solar. Business incentives for solar systems typically reduce the cost of solar by 40-60%, based on region. If your business owns the building and pays PG&E it is likely a candidate for saving money with a solar electric system. Contact Allterra for a free site assessment and learn how solar can help your business.