With a host of federal, state, and utility incentives available, investing in solar is a savvy financial business decision. Your business shouldn’t be at the mercy of the next electric bill. We can help you cut operating costs, lock in energy rates, and take a giant step toward energy independence. It’s time to take back control.
However, timing is everything. Take advantage of these lucrative benefits while they last.
Federal Investment Tax Credit
The key federal-level incentive for solar projects is the federal investment tax credit (ITC), whereby the system owner receives an investment tax credit in the amount of 30% of the total cost of the solar system. Assuming that the system owner can fully monetize the tax credit, this effectively reduces system costs by 30%.
Modified Accelerated Cost-Recovery System (MACRS)
Solar systems qualify for a modified accelerated depreciation schedule whereby the system is depreciated over 5½ years. This allows system owners to recover project costs over a very short term, and makes solar power investments very attractive.
Utility Incentive - NYSERDA Rebate
The NYSERDA rebate program provides a "tiered" rebate. EmPower would access this rebate on your behalf, and reduce the PV system cost by the rebated amount.