Businesses across the country already recognize the economic, environmental, and PR and brand benefits of going solar, but there are still more financial incentives available to businesses that decide to install a solar photovoltaic (PV) system on their property.
Find the right partner
The first step in looking into solar incentives should be talking to a qualified, credible installer with experience in commercial-scale, solar PV systems. Their knowledge and experience can help you identify what incentives and rebates are available and what will be required of your system to qualify. A turnkey installation partner will:
- Design your system to meet your needs and the qualifying standards for incentives
- Help you identify and reserve funding from the appropriate incentive and rebate programs
- Ensure you have the appropriate documentation to attain incentives and rebates
Know what’s available
There are a wide range of incentives available depending on the size, location, and even the type of business you operate. A trusted partner will be able to help you identify those you qualify for, but it’s also important that you’re aware of these incentives. You can learn more about what is available by clicking on your state at the Database of State Incentives for Renewables & Efficiency® (DSIRE).
Most solar rebates and incentive programs have annual caps designed to meet specific renewable energy goals. Unfortunately, once those funds are gone for the year, they’re no longer available regardless if your system would qualify or not. Additionally, like the federal government solar tax credit (ITC), there is a real possibility that state and local government rebate programs along with those offered by local utilities may go away completely. So, if you’re seriously considering going solar, don’t waste time!
Talk with your accountant
Unfortunately, not all accountants are familiar with the ins and outs of solar incentives and their tax implications. It’s wise to make sure you have an early conversation with your accountant to ensure you’re able to maximize your deduction schedule to benefit your specific business situation.
To learn more about solar rebates, read our eBook on Solar Incentives.
Download our eBook, Solar Incentives & Rebates, to get a better understanding of what financial incentives are related to you and how you can take advantage of them before you install solar.