More businesses are recognizing a smart investment when they see it and are adopting solar energy in a big way.
The Sunshine State is an optimum place to reap the benefits for Going Solar.
The cost of solar energy systems has dropped significantly over the last 5 years, making solar an enticing investment for businesses. Companies, small and large, are recognizing the benefits to Go Solar, because who doesn't want to reduce their operating costs and improve their bottom line.
Solar gives businesses the ability to predict their electricity price, which is highly valuable when managing long-term budgets, all while hedging against electricity price volatility and inflation.
The reduction in solar energy system costs isn’t the only reason for your business to go solar. There are many other benefits that can reduce your business’s costs and increase your Return On Investment (ROI):
- The most significant financial benefit is the Federal Tax Credit (ITC) which is 26% for all installations completed this year. (There may also be some state & local tax incentives).
- Businesses can deduct 85% of the value of their solar energy system from their taxes through accelerated depreciation, providing a significant offset to the upfront cost of a solar energy system.
- Florida also offers performance based incentives (PBIs), also known as production incentives. Solar Power Performance Payments provide small cash payments based on the number of kilowatt-hours (kWh) or BTUs generated by a renewable energy system. These incentives can be significant and greatly enhance financial returns for system owners over the life of the system. Electricity produced is credited as Solar Renewable Energy Credits (SRECs).
Did You Know?
The energy from the sun is the most abundant energy source available on Earth. With just one hour of direct sunlight, you could collect enough energy to generate a year’s worth of power for the entire Earth.