A solar energy system is one of the smartest investments a small business owner can make. The ability to reduce utility costs long term through free, clean solar energy in addition to double digit return on investment make solar an incomparable opportunity. Investing in a solar system will also allow your business to exhibit leadership in the community and give you an environmental marketing advantage.
Increasing environmental regulations on power producers is expected to significantly raise energy costs, especially for small businesses. Investing in solar and efficiency solutions with Greenspring Energy will deliver the following benefits for your business:
- Larger tax deduction
- Offset higher cost electricity during peak demand
- Options for leasers, such as non-penetrating roof mounts
- Accelerated Depreciation (see below)
- Annual maintenance plans
- Assistance to navigate extensive financial incentives
- Detailed return on investment analysis specific to your business
- Commercial experience
- Protection against future rate increases
- Excess energy created but not used results in quarterly credits from your utility company
- Daylighting and energy efficient lighting options
Accelerated Depreciation allows you to depreciate your solar system much more quickly than a standard building improvement. The IRS allows a 5-year depreciation schedule for solar energy systems, including 50% in the first year.
Below you can find examples of how solar benefits a variety of businesses:
Restaurants: Because restaurants are often in unique spaces, there are limited options to increase efficiency. Solar gives you the ability to reduce your energy costs everyday in addition to offsetting the cost to heat your water, cool your dining area, and marketing yourself as environmentally conscious.
Nursery: With high maintenance costs going toward maintaining the health of your nursery, you can reduce your operating costs with a solar system and exhibit environmental leadership in your community.
Professional offices: Make your office unique in your market by being one of the only office buildings with solar. Reduce your operating costs and use the savings take your company to the next level.
Self-storage facilities: With plenty of roof space, you can start making money and offset one of your highest costs: utilities.
Small warehouses: Combine improved efficiency and solar to permanently and dramatically reduce your overall energy usage.
Farms: Benefit from additional financial incentives and specific grants for farms to reduce your overall energy usage. Take advantage of significant roof and ground space on your farm to install a solar system, the only home improvement that pays you back!
Apartment buildings: One of your biggest expenses is the utility cost and your tenants may not understand the full impact of energy usage in common areas. Solar can permanently offset the cost of common areas in many cases. Additionally, you’ll benefit from marketing your building as environmentally conscious!
Solar Incentives
Solar Electric - 30% Property Tax Credit for solar energy systems
Solar Hot Water - 30% Property Tax Credit for solar energy systems
Accelerated Asset Depreciation - 5 Year Accelerated Depreciation of business solar system
Bonus Asset Depreciation - 50% First Year Depreciation of 5 year accelerated depreciation
Other Incentives
Tankless Water Heaters - 30% of installed cost up to $1500
Solar Attic Fans - 30% of total installed costs
Insulation - 30% of installed costs up to $1500
Gas or Propane Boilers - 30% of installed costs up to $1500
For additional State and Local Incentives, please visit our Financial Incentives page.
