Are you a business owner looking for ways to cut costs?
Are you tired of throwing money down the drain by sending hundreds or thousands of dollars each month to the utility?
Do you want to create some positive PR buzz about your company by “going green?”
If any of these sound like you, going solar with Simple Solar might be the perfect solution to consider. What’s the deal with going solar and does it make sense for businesses?
For many businesses, one of their biggest regular expenses is the utility bill. If you could cut out a huge chunk of that by going solar, and make your electricity costs more predictable, that could make a big difference.
Besides death and taxes, one thing that you can be sure of is your electric rates going up over time.
Stop and think about how much your business used to pay for electricity a few years ago. Now look at your current utility bill. Notice a difference? The national average for electric rate increases is about 5%, but it’s actually been higher than that on some Southwest Missouri utilities.
With as much electricity as some businesses use, doing a commercial solar project in Missouri can make a lot of sense. Over the life of the system, you could save hundreds of thousands of dollars in utility costs.
Looking for ways to send less of your hard-earned money to Uncle Sam? Investing in solar is one of the best ways to save money on your tax bill. There are actually two major tax incentives for businesses that invest in solar.
The biggest incentive is the solar tax credit. This allows you to claim a credit on your federal taxes equal to 26% of the cost of your solar system. That essentially takes 26% of the cost of your solar system off of the net price and gets you a major tax savings.
Besides the tax credit, you can also take advantage of accelerated depreciation on the cost of your solar system. The IRS allows you to depreciate assets, which gets you a deduction and lowers your taxable income.
With solar you get to lower your taxable income with depreciation as well as eliminate part of your tax burden on a dollar-for-dollar basis with the credit.
If your business happens to be on Empire District Electric, then you can also take advantage of a generous upfront rebate to go solar. With this incentive, Empire will cut you a check to help cover a large chunk of the installation cost to go solar. They issue the check within a few weeks of installing your system. This can help offset thousands of dollars of the initial cost.
When combined with the tax credit and accelerated depreciation, many businesses on Empire have an extremely short payback period on their investment to go solar.
Despite the multiple incentives and the many benefits for a business to go solar, one of the big challenges is affording the initial purchase. Simple Solar has a program that can make it possible for a business to utilize a lease agreement to go solar. By taking this approach, you don’t have to come up with any money on the front end, and instead make a fixed, monthly lease payment instead. For businesses that qualify, it’s an extremely attractive option.
If you’re interested in finding out how much money solar can save your business, get a free quote from Simple Solar today. It only takes a few minutes of your time, and we can get all your questions answered right away. The entire process is done over the phone and internet on your schedule.