In terms of rebates and incentive, there are federal and state level programs that are more than encouraging. They created these programs to help you the consumer to be able to afford solar. Through their efforts to reduce foreign dependence on oil, and to invest in renewable energies, these programs not only benefit your business, but they benefit the country as a whole. The more people go solar, the better the technology, the more the prices go down, the better the world becomes.
The federal government is allowing for a 30% Corporate Tax Credit or Grant for renewable energy systems. What this means is that the federal government will supply you with 30% of the total cost of the renewable energy system sans any other rebates or discounts you might receive. This is a substantial sum and well worth it for the upcoming tax year.
Additionally, if the incentive isn't entirely used up, the remainder of the tax credit may be carried over to the next tax year. This is fantastic news, however no one is sure how long these incentives will last, so take advantage while you still can!
Another great federal incentive program is Modified Accelerated Cost-Recovery System (MACRS). In essence it is a way a company could lower its tax liability while investing in a solar energy system. For those companies willing to invest in renewables, the federal government has spelled out in the rules and regulations, ways to drive long-term energy savings.
Through MACRS, business may recover certain renewable energy investments through these depreciated deduction. It is important to note that some systems are ineligible for these incentives. Albeit a confusing process, rest easy knowing that Comerford Solar is here to help you navigate through this sea of red tape, and secure the incentives that you are entitled to.
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