Financial and Environmental Benefits of Residential Solar

Environmental

Solar power is the earth’s most abundant resource of energy. As one of the cheapest forms of electricity across the United States, solar dramatically reduces greenhouse gas emissions and is proven to help slow climate change.

According to SEIA.org, the carbon emissions that have been reduced by solar installations across the nation equates to planting over 1.6 billion trees. By switching to solar, you can reduce your own carbon footprint and help better the environment for generations. It’s literally a breath of fresh air.

Environment

Financial

Utility rates are continuously on the rise year over year. Solar not only significantly reduces your electricity costs, but it offers your business long term price protection throughout the length of your agreement.

Depending on the state your business is headquartered in, you’re also eligible for net metering which allows you to build credits with your utility company for every time your system overproduces — that extra energy will be pushed into the grid and you’ll be credited on your account for future use.

Additional benefits*:

  • 30% federal tax credit against the cost of the solar system
  • Depreciation allowance deducting up to 85% of the solar asset from your taxed
  • Return on investment in under 3 years
  • Promote your corporate social responsibility as a sustainable business or institution

Federal Solar Incentive: Tax Credit for Purchased Systems

Since the 2006 implementation of the federal solar tax credit, also known as the investment tax credit (ITC), it has proven to be a substantial factor behind solar adoption in the United States.

Solar power system owners are eligible for this tax credit which is worth 30% of the total cost of the system through the end of 2019. After 2019 the percentage will decrease each year and then expire completely for residential solar systems purchased after 2021. After 2021, the ITC will only apply for commercial solar systems at 10% of the total cost of the system.

State Incentives & Rebates

Depending on the state your business is headquartered in, there may be incentives and rebates available to you when you switch to solar.

Some incentives, like the ITC, are specific to purchased systems (like state tax credits) and others apply to lease and PPA (power purchase agreement) customers. Depending on where you live, you could be eligible for SRECs (solar renewable energy credits), PBIs (performance-based incentives), net metering, and any rebates or incentives that your utility company may have to offer. The utility rebates tend to be first come first serve, so you should be proactive when claiming your solar benefits.

Find out what additional financial perks you can receive by switching to solar in your state.

We have developed, financed, built and maintained commercial solar systems around the globe.

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¹Statistic on home resale value is based on research conducted by the Lawrence Berkeley National Laboratory

© Suntuity 2019. All rights reserved. Suntuity is a registered trademark of Natural Power Sources LLC D|B|A Suntuity. A solar power system is customized for each home, so pricing and savings vary based on location, system size, roof condition and roof space, azimuth, tree location, government rebates, and local utility rates. Savings on your total electricity cost is not guaranteed. Financing terms and warranties vary based on location and are not available in all areas.*

HIC # – NJ: 13VH09300100; MD: 05-136554; MA: 180758; PA: 131727; FL Electrical License #: EC13008573.