Solar Benefits For
For business owners who are looking to reduce their overhead, or stabilize their unpredictable power costs, solar may be the solution. Purchasing a solar system has certain benefits, including a 30% federal tax credit on the cost of the system, the ability to write off the depreciation of the system, and a lower monthly cost if the system is financed.
No one likes high electricity bills. With solar, you have the opportunity to make a smart decision for your business by lowering your overhead and increasing your bottom line. If you own your own building, commercial solar is a no brainer because of the added benefits such as, depreciation.
The Federal Tax Credit for solar is 30% at the moment, which can be put back into your loan or used for other business expenses. However, this credit cannot be claimed by non-profits or any institutions that do not pay taxes. This credit is a huge help when it comes to going solar but, it is on track to go away so, there has never been a better time to pull the trigger and go solar.
The Modified Accelerated Cost Recovery System (MACRS) was established in 1986 and is the most common method of depreciation in solar. This depreciation method allows certain tangible property business investments to be recovered for tax purposes over a specific amount of time through annual deductions. Most of the qualifying solar energy equipment is eligible for a cost recovery period of 5 years.
Our quotes are always free. So, if you decide solar isn’t right for your business, it really is no pressure. But, if you want to change with the nation and grow, solar is the right step for you. There are more and more businesses around the world going green. Take the first step in the right direction. You will save money and save on your taxes with FreeVolt.
We all need to do our part to create a cleaner world, your business can be at the helm of that change. Many business giants, such as Target, Walmart, Apple, and Google, have made great efforts in utilizing renewable energy. This has resulted not only in environmental benefits but, aided in reinforcing a positive image for their business.
FreeVolt does not provide tax or legal advice. You should consult your tax advisor for more information.
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