Solar for businesses is really a great deal!
The Solarize Dummerston program is still underway, and the goal of this program is to help you purchase solar for your business at a lower than normal cost. For most businesses the payback on a solar investment is under 5 years. After that your electricity is free for the next 25 years, or if you take out a loan, then payments should be similar to the electric bill, until paid off.
Each of the solar options has a tiered price so the more solar installed, the lower the end users cost will be. We are counting on local businesses to step up to help us reach our goals.
It is a great time to go solar because incentives are set to expire at the end of 2016. In a Vermont Community Solar project, (or your own on-site installation), you get to take advantage of ALL available tax credits.
For businesses there are several extra incentives;
1. Your business qualifies for a 30% federal tax credit based on the cost of the panels or installation. It is like having a check made out to the IRS that you can use to pay your taxes. If it cannot be entirely used in the first year, the tax credit can be carried forward until used up.
2. As a business you can receive the State incentives of 7.2% Energy investment credit. This is good for 5 years.
3. Your business also can make use of the http://en.m.wikipedia.org/wiki/MACRS modified accelerated cost recovery system. This is a 5 year depreciation schedule that allow businesses to depreciate the investment of up to 80% of the cost of your project or panels.
4. REAP grant from the USDA to cover 25% of the cost of your purchase.
There are also several exciting new loan programs for Windham County that may help you be cash positive from day one.
You can contact our solar advisor team at; email@example.com