THINKING ABOUT SOLAR FOR YOUR FACILITY? WAITING TO DECIDE WILL GET EXPENSIVE!
A significant component of solar energy savings includes a federal tax incentive. The “Investment Tax Credit” for companies has been designed to make solar investment more attractive to building and facility owners.
But good things don’t last forever. The ITC has begun its Stepdown phase, reducing the incentive value over the next few years. The original 30% ITC was awesome in providing a quick financial return. By the end of 2024, it is set to end.
Other Solar Incentives
- Accelerated depreciation and bonus depreciation
- In Maryland and several other States, Solar renewable energy credits
- Your facility will become a power generator of clean, renewable energy.
- Net metering
- Special Grants and Rebate programs for specific projects