Whether you are a small firm wondering about installation costs or a bigger company who is interested in federal and statewide financial tax incentives, here you will explore each information that you need to know regarding solar.
With the Modified Accelerated Cost-Recovery System (MACRS), the Federal government grants the accelerated depreciation for various renewable energy systems. The renewable energy systems like solar, geothermal and wind system that were installed after 1986 are eligible for 5-year depreciation plan. Besides these, in 2008 and 2009 Federal stimulus legislation allows for 50% bonus depreciation for those systems that were installed during those years.
Accelerated depreciation means the reducing of the lifespan of a piece of capital (for tax purposes). Another benefit of solar energy system is that your firm will receive cash flow with a lifespan of 25 years but system’s value will be taken out of a gross income for a 5-year period. That means during those 5 years, companies are granted a lowered taxable dividend. This accelerated depreciation allows companies to reduce their tax liabilities.
Small companies are well known by the substantial benefits of utilizing solar systems. Numbers of firms and government entities have selected American solar panels for our excellent quality products, technologies and services. For smaller commercial installations less than 100kW of peak power, our expert commercial dealers will work with you to evaluate, specify and install the right solar system that will surely meet the desire needs.
Companies now understand the benefits of solar energy. Increasing oil prices also take the attention of people towards cleaner forms of energy. A survey conducted in 2009 showed that out of 190 companies, 71% in the UK showed increasing awareness regarding customer expectations and cost saving. It was due to the climate change anxieties.
Short-term profits are not allied with renewable energy investments, which are generally pricey. Due to this reason and cheap price of coal generated electricity, businesses are not ready to adopt solar energy system.
But some big companies have started to take a step towards solar energy systems and seeing big results. Wal-Mart and Google are example of such companies that have made a step to adopt solar energy. Bank of America has also started to build a futuristic tower in Manhattan, which will be powered by wind energy and useful to recycle water & ice at night to cool the building during the day.
As people are now getting aware by the climate change and thus renewable energy is going popular. It has great profitable future. For example, Guinness Atkinson Renewable Energy Fund and other alternative energy mutual funds have shown amazing returns. In fact, the “New Alternatives Fund” has better performed the S&P by 16% (2007).
Many corporations believe that government can play a larger part in providing information and incentives to those firms and companies interested in solar energy. Due to climate change awareness and global warming, many large corporations now want environmental friendly solution and also interested in turning a profit where possible.
Can you imagine that your power meter spinning backward! It can happen if you install a solar panel system which is connected to the grid. By connecting to the grid, your solar panels are used to convert the sunlight into electricity which is sent through your home via conventional utility grid.
Solar panels are generally installed on the roof. These systems provide several benefits. You can save on your monthly electricity bill and earn money by selling excessive power back to the utility company via an inverter which is installed in your meter. When solar panel is not generating electricity at night then you can also your battery or buy power from the utility company. So you will be able to save, the amount depends on the season.
It is similar as connected to the grid, but for this you will also have a battery that will be able to store extra power in the vent you might need it. By doing this, you can sell power back to the utility company and also you can use the battery power in case of a power outage.
When it comes to the solar panels, Off-the-the-Grid is the ultimate package but is also more costly. This is when your system is independent of the grid and set up with its own solar array. One of the best benefits of such kind of system is that you will be free of your reliance on fossil fuels and also monthly electricity bills.
Such type of circumstances occurs when grid doesn’t reach the location of your home or when living off-the grid is the desired outcome. Thus solar array is set up near the house or it can be installed on the roof if space is available. The entire system needs a series of large deep-cycle batteries to store the power and require a charge controller to assure that flow from the solar cells does not overcharge the batteries.
