Installing smart solar on your rooftop is an important decision for both you and your property. As the industry advances and we see more incentives/resources for customers to install solar, it becomes crucial to know everything that is available to you.
While many prospective solar users begin to worry about the investment required, the installation of solar actually incorporates a quick payback system that allows you to earn surplus cash flow in addition to having financial incentives available to reduce risk of your investment.
In this article, we will highlight some of the important reasons to install smart solar on your rooftop:
- Maximized energy savings (ADMS is the brains of the operations automating with energy utilizing systems to eliminate demand spikes)
- 30% federal tax credit (also mention some states offer a state tax credit)
- 5 year MACRS accelerated depreciation
- Environmental benefits of demand reduction (reduce your reliance on utility’s dirtiest peak energy generators)
- Local Utility rebates and grants
- Hedge against rising electric rates
- Durable life 25+ years
- Higher building appraisal
- No added property or sales taxes
Who doesn’t want to maximize on their energy savings? Exactly. The best way to actually do so is by installing solar due to ADMS (Advanced Demand Management Systems). Through ADMS, we connect your energy assets together with our automation controller using custom algorithms to modify how you are billed for energy.
The ever-so-lucrative 30% federal tax credit saw a recent extension give solar users an extra 5 years to take advantage of this incredible offer. Some states are also offering a state tax credit depending on where you live. The ITC, or Investment Tax Credit, equals up to 30% of the total cost of the system. It is a dollar-for-dollar reduction in the income taxes that your business would be paying the federal government.
When planning your solar installation, be sure to take advantage of MACRS (Modified Accelerated Cost Recovery System). The MACRS is used to recover the basis of most business and investment place in service after the year 1986. It consists of two different systems, the General Depreciation System (GDS) and the Alternative Depreciation System (ADS). To determine which one is right for your situation, take a look at our previous article on MACRS.
If we don’t react to the ongoing issues in our environment, then the future for generations to come is scary. By switching to solar, you reduce your reliance on the dirtiest peak energy generators for the environment. They are called into service when electricity demand is high, and tend to be less efficient than combined cycle power plants, along with being more expensive.
Columbia Water & Light and Empire Electric are just two of the local companies who have offered local incentives and rebates for switching to solar. With local communities taking stands like this, it shows a commitment to creating a better, more efficient future.
The price of energy has continuously increased over the years and caused energy users to be ones having to pay the price. Our population is growing at a rapid pace, while we find the United States producing less electricity than ever before. Prices of kW have been increasing at around 4% each year and continues to do so with everything that is happening.
Solar panels have a lifespan of 25+ years and produce at the very least, a minimum of 80% of their original power at this mark. We are seeing systems that were originally installed in the 1970s that are still running at 80% power capacity. This provides a quality testimonial to solar panels as the newer systems are more durable and built to last.
Studies show that buyers were willing to pay on average, $15,000 more for a home should it have solar energy. If the system was leased on terms, homebuyers even mentioned that they would pay a premium in this case.
Last, but definitely not least, when purchasing a solar panel system for your property, you won’t have any property or sales tax to worry about!