Commercial Solar Installations
What to Know About Commercial Solar
As a business you can file for a Business Energy Investment Tax Credit (ITC) under the IRS form 3468. This credit allows your business to use 30% of the installed cost of the solar system as a tax credit. Instructions for the IRS form 3468 can be found by clicking here: https://www.irs.gov/pub/irs-pdf/i3468.pdf
USDA Rural Energy for America Program (REAP) Grants provide guaranteed loan financing and grant funding for agricultural producers and rural small businesses for renewable energy systems. https://www.rd.usda.gov/programs-services/rural-energy-america-program-renewable-energy-systems-energy-efficiency
- • Loan guarantees on loans up to 75% of total installed cost
- • Grants for up to 25% of total installed cost
- • Combined grant and loan guaranteed funding up to 75% of total installed cost
Michigan Saves provides and range of loans for businesses looking to improve their energy efficiency. Consumer Energy and DTE Energy customers are eligible for number of different financing options through the Michigan Saves Program. For more information about Mihigan Saves Loan Financing for businesses click here: http://michigansaves.org/business-energy-financing/
Consumers Energy customers can receive loans with 0% APR for 36 months up to $75,000.
DTE Energy customers can receive loans with 0% APR for 24 months up to $50,000 or 2.99% APR financing for 60 months up to $150,000.
Commercial solar energy is a long-term investment in the value of your business. Solar system costs for commercial businesses have a wide range of pricing depending on the size and energy demand of the business. Our typical commercial invoice ranges from $15,000 to $500,000. This is money that a commercial business would be paying for grid electricity over a period of time. Many factors influence the price of installing a solar system, such as the size of the system, size of your roof or ground-mounted system, inclusion of a battery storage system, and distance between your electrical panel and the solar array. However, tax credits, grants, and net metering will help offset the cost of installing solar to your business.
- ● System Size: Larger installations benefit from bulk purchasing.
- ● Sun Exposure: Let us calculate shading and exposure for specific zones. Consistent and direct sunlight equate to faster returns on investment.
- ● Roof Type: We can attach to many different slopes and materials. Larger roof angles may add cost due to increased labor.
- ● Ground Mounts: Require extra material and labor.
- ● Battery Bank Inclusion: We can easily determine if your project would benefit from storage. May increase cost but also add to faster returns.