SOLAR FOR AGRICULTURE & COMMERCIAL

AGRICULTURE APPLICATION

Solar power can lower a building’s electricity bill by 20%-40%. LEED-certified buildings producing solar power are able to charge more for rent, and gain a competitive advantage by reducing overhead and having predictable power costs.

Agriculture Solar Incentives and Benefits:

Solar energy isn’t just for homes or commercial buildings. Agriculture can greatly benefit from going solar! Solar power for farms can help decrease energy costs and increase productivity. And, of course, it can also benefit the environment by utilizing natural, renewable energy. Though there are a multitude of benefits for agricultural solar panel installation, the cost can often appear daunting for property owners and make them hesitate to make the switch. Fortunately, the United States Department of Agriculture offers a grant to help aid this problem. The Rural Energy for America Program (REAP) can cover up to 25% of your installation costs if you qualify for the grant. REAP was created out of interest to increase solar energy usage on farms.

Regardless of if your farm is large or small, your property can greatly benefit from solar energy. One of the prime reasons for solar panel installation is the reduction of utility costs. Solar power both reduces your energy costs and increases your profit, since you aren’t spending as much on utilities anymore. You can also reduce costs by claiming 30% of the purchase price as a federal tax credit.

Solar power also offers financial gains in the long term. Energy costs tend to rise over the years, and sometimes become unmanageable. However, with solar power you are essentially locking in your energy costs. You won’t have to worry as much about rising utilities in the coming years with solar power. If you ever choose to sell your property, you will also have increased property value from solar power. Your solar power equipment will most likely be in excellent shape, as you have the ability to utilize a multitude of equipment options and be satisfied with 25-year warranties for equipment. You can also depreciate the equipment on a 5-year schedule.

COMMERCIAL APPLICATION

Solar power can lower a building’s electricity bill by 20%-40%. LEED-certified buildings producing solar power are able to charge more for rent, and gain a competitive advantage by reducing overhead and having predictable power costs.

Commercial Solar Incentives and Benefits:

1. Increase Cash Flow
   Solar energy provides property owners with an opportunity to boost cash flow by reducing or eliminating an expensive energy bill.
2. Net Metering
   Net metering allows for solar to cover common areas and, depending on the tenant setup, property owners can pass on savings to tenants.
3. More States Adopting Battery Backup Incentives
   Solar batteries are decreasing in cost and increasing in storage capacity. Batteries can deliver their stored power on-demand to help reduce demand charges during peak usage.
4. Cost-Lowering Financial Incentives
   Incentives lower the overall cost of installing solar. The main Federal incentive is a 26% tax credit. In addition, the Tax Cut and Jobs Act now allow 100% bonus depreciation, so the entire cost of a solar array can be depreciated in the year that the system is placed into service. These federal and local incentives will help you recover a large portion of the upfront system cost in year one.
5. Flexible Financing Options
   Several options for financing are available to commercial property owners, depending on your state. Listed are four common options - Power Purchase Agreements, Operating Lease, Self-Finance, and Property Assessed Clean Energy (PACE). We can help you decide which financing option best suits your situation.

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