Commercial Solar Panel Experts
At Sea Bright Solar, it has been our mission to provide comprehensive solar system consultations, designs, engineering, and installations for residential and commercial projects throughout the cities and states we serve. With nearly 20 years of experience using the very best in technology, we’ve become known as the most trusted solar provider in New Jersey, New York, and California. We take your business very seriously and believe in creating long lasting customer relationships. You can count on Sea Bright Solar to help you achieve your energy independence, sustainability, and financial goals by switching to solar.
Tax credits and incentives make it possible for more businesses to take advantage of the benefits of solar:
MACRS Accelerated Depreciation
Year 1 Bonus Depreciation
30% Federal Tax Credit
Even More Solar Incentives
As if lower utility bills were not enough when you switch to solar, customers are able to take advantage of tax benefits that significantly reduce the cost of the system. There is a 30% federal tax credit that is still available and commercial solar customers are able to depreciate their solar systems on their federal and state taxes. These tax incentives are equivalent to 60-70% of the cost of the system, and between the solar savings and tax incentives, customers can get their cost of solar back in anywhere from 4 to 6 years. With its 30-year or more useful life, once your solar system has paid for itself, it will keep saving money for decades to come.
This aspect is perhaps the most well-known. The Federal Solar Investment Tax Credit (ITC) and 5-Year Modified Accelerated Cost Recovery System (MACRS) have been important drivers in reducing costs for companies going solar. Many other rebates and incentives exist for state, municipal and utility levels. You can find out more about incentives in specific locations by searching the Database of State Incentives for Renewables & Energy.
Strategic Net Metering
Net Energy Metering in some form or another was approved by the State of California in 2016, the State of New York in 2011, and the State of New Jersey in 2012, allowing businesses to install a single centralized solar power system to offset multiple meters or facilities. Benefitting meters can be on different rates or even located on different properties, but they must be on contiguous parcels. Net metering (the ability to sell energy to the utility) can also be central to creating positive financial returns. Changes to the NEM program in 2023 in California will significantly affect the payments, while the other benefits of solar remain.
Rate Structure Incentives
While most companies have heard of net metering, perhaps one of the least talked about, but extremely important topics, is the role of rate structures. When possible, having the ability to rate-switch to the best utility rate structure is extremely helpful to create a winning financial scenario.
Maximizing Financial Value
This is a time of great opportunity for going solar. The right partner, like Sea Bright Solar, can help you assemble the most financially advantageous combination of incentives, rate structures, financing and investors (when applicable) to help your business achieve the maximum benefits and value from your solar project.