30% Federal Income Tax Credit
The federal government offers a tax credit (not a deduction) for 30% of the total installation cost. If you do not have the tax liability in one year to take advantage of this credit, you can roll it over for multiple years to take full advantage of the credit.
MACRS Accelerated Depreciation
Commercial Solar qualifies for a 5 year accelerated depreciation schedule. You are able to depreciate 85% of the total system cost, which means that you are not only depreciating the net cost of the system, but also depreciating half of the tax credit. The total benefit of the depreciation will depend on your businesses tax situation.
WA State production incentive
WA state will pay you for every kWh produced, even if you use the energy on site. The rate depends on which fiscal year the system is placed into service and that set rate will be paid for 8 years. Customers will receive a bonus amount per kWh if they elect to install panels that are manufactured in Washington. Commercial systems can receive up to $25,000 per year.
Net-Metering & Energy Savings
From the day your solar system is turned on, you will be saving energy. Your roof becomes your primary power source and the utility grid becomes the back-up. If the sun is shining, you are saving on your cost to operate. You will only buy the power you need from the grid, and you will use your solar energy on site as it is created. If you are generating excess energy, your meter will actually spin backwards!
Increased property value
There are multiple studies that show a direct correlation between adding solar to your building and an increase in property value (Most notable studies (PVvalue.com and Home Appraisal Journal) Value increase will depend on the number of solar panels installed; more solar means greater increase in value.
Low-interest loan programs
SolTerra has partnered with Puget Sound Cooperative Credit Union to offer some amazing commercial solar specific loan programs. Benefit from a zero down loan with low monthly payments and interest rates as low as 4.75% for commercial.