LOWER YOUR MONTHLY ELECTRICITY COSTS
Financing a solar system makes sense and is a safe bet. The panels produce electricity for 30-40 years and most manufacturer warranties are at least 20 years. With longer term financing your price for electricity can go down on day 1 significantly increasing your monthly cash flow. Instead of paying ever increasing utility rates, solar let’s you lock in a rate for the length of the loan. Lending institutions are comfortable because the collateral is warranteed for the length of the loan. Prices of the components have plummeted. Prices are half of what they were for solar panels from even a few years ago. If you choose to pay cash you are pre-buying electricity for the next 40 years for the price of what you would pay for about 5 years. That is a heck of a pre-pay deal. ROI has gotten much shorter with the price drops. System size and location greatly affects the the overall cost and therefore the ROI.
ADDS VALUE TO THE PROPERTY
Solar arrays cost money and therefore they are worth money. Investing in solar as a property improvement has long term value. After 40 years it becomes a liability in terms of removal. Some or all of the infrastructure could still be usable by simply replacing the old with the new for a lower cost. In the shorter term, the sale of a property or facility will take into account the value of the system and a good level of return will be acknowledged in any appraisal.
ACCELERATED DEPRECATION SCHEDULE
MACRS or Modified Accelerated Cost Recovery System currently allows you to take a 50% depreciation in the first year and the remainder over a total of 5 years. That is another major benefit to business that wants to reduce a tax burden and gain energy independence. These two tax benefits alone are massive incentive to Go Solar Now!
30% TAX BENEFIT FOR A LIMITED TIME
This benefit is a direct tax credit that can be taken on systems installed and functioning before Dec.31,2019 If you are interested in solar but don’t know where to start, contact us today. This 30% benefit sunsets to 26% in 2020 and to 22% in 2021 and drop to 10% thereafter unless the feds do something different. This is like a 30% off sale right now so now is the best time to buy.
FUTURE PROOF AGAINST UTILITY INCREASES
Whether you finance or fund a solar system you are protecting against rate increases. When you do not generate your own power your are subject to a monopoly that will dictate your rate or to a deregulated environment that also has rate increases. If you make your own power, you will know the long term cost going in and keep your costs in check. Solar is the best way to do that. Locking in costs for decades is possible with solar.
With solar connected to battery storage the system recharges each day and can maintain consistent power to important uses. Prices for storage has dropped as well and there are commercial sized components that can accommodate any load. Utility companies are already turning to solar and storage as a less expensive option for new generation capacity. Your organization can be semi-independent from the monopoly of big power.
LONG TERM RELIABILITY
Solar systems have no moving parts. Panels produce electricity for 40 years or longer. As mentioned warranties are 20-25 years on solar panels and are 10-15 on inverters that are the parts of the system that convert DC power that is generated into AC for normal use. Some companies extend warranties on inverters for 20 years as well. Solar arrays are very low maintenance. If your system is in a dusty area they may need sprayed off a few times a year. Overall, expect trouble free power for years and years.
PUBLIC RELATIONS GOLD
Green is good! With more states implementing renewable portfolio standards, you can get the jump on other businesses by being a renewable leader in your community. Organizations that adopt renewable energy as part of operation have the good works that can be well publicized. People do want to do business with environmentally responsible companies. We all know some people that really care and others that, not so much. But no one boycotts an organization because they went with solar. You can take advantage of the message as much or as little as you see fit. Going solar is something to brag about.