Commercial Solar Incentives
With our experience in solar energy and energy conservation, we can guide you to the best combination of commercial solar incentives, financing, and grants. We can also help you analyze your energy management systems for improved returns. As a certified solar and energy-efficiency contractor in Connecticut, Massachusetts, and Oregon, Earthlight Technologies can help you find the right financing for your project.
Popular Incentives and Financing for Businesses
Throughout the United States, local and national programs give financial support to businesses investing in solar energy. Before you turn away from what looks like an outrageous expense, take a look at the financial aid and benefits outlined below. If you have further questions concerning grants, tax credits, or other financial incentives for business solar power, reach out to our team. We’ll discuss your opportunities to reasonably invest in a brighter future.
Federal Solar Tax Credit
Like the tax credit available for homeowners, the federal government offers a 30% tax credit on commercial solar installations. This credit can be used by property owners throughout the United States, including CT, MA, and OR.
Through net metering, you receive credit for the electricity you deliver back to the grid, resulting in greatly reduced electric utility bills. Net metering rules vary state by state, and is currently allowed in Connecticut, Massachusetts, and Oregon.
Accelerated Depreciation Schedule
Started in 1986, the Modified Accelerated Cost Recovery System (MACRS) allows businesses to recover their capital investments through annual deductions. Commercial solar installations qualify for this depreciation over the accelerated period of 5 years.
USDA Grant (REAP)
The US Department of Agriculture’s Rural Energy for America Program (REAP) provides grants and loans for small business and agriculture business owners in rural areas. This great program can make solar affordable for businesses in the rural parts of CT, MA, and OR.
- C-PACE Financing
- Zero-down financing to provide capital for your energy-efficient and solar projects. Learn more »
- Connecticut offers zero-emission renewable energy credits (ZREC) for CT’s utility companies to purchase from commercial property owners like you.
- Shared Clean Energy Facility Program – SCEF
- This program is like it’s ZREC counterpart, but designed to work for Front of the Meter applications
- MA SMART Program
- Utility companies in Massachusetts that participate in the SMART Program will pay businesses an incentive for installing solar. The rate of the incentive is calculated based on multiple factors including the utility territory, system size, historical electric rates timing of the project, and other specific aspects of the system.
- MA SMART – Energy Storage
- Performance Based ESS Incentive, based on the ratio of Total ESS Max Power Discharge to Total PV DC Power Rating, the ESS Full Discharge Duration, and the production of the system.
- Energy Trust of Oregon Incentive
- The Energy Trust of Oregon offers a cash incentive for Pacific Power and Portland General Electric business customers. This incentive is paid directly to the installer and is immediately taken off the total project cost.
- Renewable Energy Development Grant
- This is a competitive grant funded by the Oregon Department of Energy. If awarded, the grant can cover up to 35% of the solar project’s cost.
Financing for Energy-Efficiency Upgrades
If you are a commercial property owner in Connecticut, there are two important financing programs you should know about. The Small Business Energy Advantage (SBEA) program provides grants and low-interest financing on energy-efficient updates for small companies’ solar projects. C-PACE offers the necessary capital you need for energy conservation updates and solar system installation, often with a no-money-down loan.
As a certified energy efficiency contractor in CT, Earthlight Technologies can help you find commercial solar incentives and financing for your project. To learn which program is best for you, call our office at 866-499-3084.