Are you interested in switching to commercial and agricultural solar power?
There has never been a better time to consider solar at your facility. Electricity rates from NY utilities have increased dramatically in recent years due to world events. While there is no way to know for sure, history tells us that the likelihood is that these costs are going to continue to rise significantly.
Costs for commercial and agricultural solar power, on the other hand have reached a historical low, making it more affordable than ever before. At the same time, solar panels can now produce more power than ever before, and government incentives for commercial solar installations have increased significantly.
Current Commercial Solar Incentives
NY State and the federal government provide lucrative incentives for commercial solar being installed at your business. Most of these incentives are all set to decrease however, so it is important to make a decision about your solar project sooner rather than later.- The NYSERDA grant provides significant up front savings to reduce the cost of solar projects.
- Federal tax credits have been increased to 30%.
- Not for profit organizations can now receive these federal benefits as Direct Payments.
- Solar investments are eligible to receive 80% Accelerated Depreciation. This benefit will decrease next year, so it’s worth making sure your project is completed in 2023.
- Depending on your location, additional federal and state “Adders” may be available, including disadvantaged areas, low-income housing, and others.
- USDA grants can provide as much as 40% of the costs for solar installations in many areas for both farms and small businesses. New York State Solar Farm can help you to determine if you are eligible.
- Net metering is an electric billing tool that uses the electric grid to store excess energy produced by your solar panel system. Under net metering, energy your solar panels produce and you don’t use is credited back to you.
Why Commercial and Agricultural Solar Makes Sense
Commercial solar installations make sense for many reasons. We have listed just a few below:- Ensure financial stability – lock in your electric rate so that your company’s cost for electricity won’t go up the way it does from the local utility.
- Decrease your carbon footprint – this one is important. The next generation needs us to get this done.
- Save during tax time via the tax credits, depreciation, and adders we discussed previously.
- Add value to your business and property. While solar increases the value of your property, the solar investment won’t increase your property tax in the majority of the state.
- Enjoy low-maintenance, long-lasting energy production and cash flows. Solar systems will be productive for 30 years or more, with an average ROI of 15% or more.
- Foster employee pride.
- Demonstrate social responsibility – your clients will appreciate seeing that your business is playing an active role in cleaning up our planet.
Types of Commercial and Agricultural Solar Installations
There are several different installation types available to choose from for your business, and what makes the most sense for you will probably depend on several factors. We are happy to present you with multiple options, and to help you to make that decision of what’s best for your business. The different installation types are listed below:- Rooftop – turn your roof into a money maker. Both flat and pitched roofs can support solar panels.
- Ground mount – have spare, underutilized space? Solar can be installed on this land generating both cost savings and income for your business.
- Carports – parking structures will not only generate electricity, but can also reduce parking lot maintenance such as snow removal, and provide ideal shaded space for your parking lot. These structures serve as a true statement to your customers, and you can also add electric vehicle chargers here.
- Agrivoltaics – specialized solar systems integrate electrical and farm production, increasing overall farm/orchard/vineyard returns, while protecting valuable farmland and soils.