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Tag: Commercial Solar

Renewable Energy in Texas Soars!

Posted on by D.Smith

This summer, Texas needs every available megawatt to power our grid and renewable energy generation continues to reach new heights in ERCOT, providing us with reliable, affordable power.

On June 17th, ERCOT hit a new wind generation record with 27,849 MW generated across the state. The following day, wind generated 27,202 MW of energy for the Texas grid, coming in at #3 for all-time wind generation.

On June 18th, ERCOT hit a new renewable generation record with 37,946 MW generated across the state.

On June 22nd, ERCOT hit a new solar generation record with 19,287 MW generated across the state.

Battery energy storage also continues to break records when the grid needs it most, such as last month during the May 8th Weather Watch issued by ERCOT when a record 3,195 MW of energy from batteries was utilized to fill the gaps brought on by traditional power plant outages that were higher than expected.

Solar is the future

Posted on by D.Smith
NextEra is one of the largest owners of gas fired power plants in the US.
When asked this week if gas or renewables will meet the country’s growing electricity demand – their CEO answered thusly:
——–
The CEO said he expects an almost 40% rise in US power demand over the next two decades, compared with just 9% over the previous 20 years. Renewable energy will meet most of the consumption boost because new gas-fired plants are much more expensive, take too long to connect to the grid and have to be supplied by hard-to-build gas pipelines, he said.
He said that adding battery storage to wind and solar farms can make those carbon-free sources almost as reliable in providing around-the-clock power as fossil fuels are.
“If I want to pay double, I can go with a gas-fired plant,” Ketchum said.
 

Tech Firms Ask NextEra for Enough Electricity to Power Entire Cities

NextEra Energy Inc

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Technology companies are so desperate to build massive data centers in the US that they’re asking clean-energy giant NextEra Energy Inc. to find them locations with enough electricity to power entire cities.

“We’ve had some come to us and say, ‘Can you show us sites that can accommodate 5 gigawatts of demand?’” John Ketchum, Florida-based NextEra’s chief executive officer, said in an interview at Bloomberg News in New York on Wednesday. “Think about that. That’s the size of powering the city of Miami.” Ketchum declined to name the companies.

That much power — roughly the equivalent of five nuclear reactors, or enough to power almost 3 million homes — would require a mix of new wind and solar farms, battery storage and a connection to the grid, Ketchum said. He added that finding a site that could accommodate 5 gigawatts would take some work, but there are places in the US that can fit one gigawatt.

Power consumption in the US is soaring, driven in part by new data centers needed for artificial intelligence, high-speed streaming and remote work. A boost in domestic manufacturing and the electrification of vehicles and other sectors is also fueling the jump. While the demand surge is fueling a boom in clean-energy generation, it’s also spurring plans for new fossil-fuel plants, complicating climate goals.

The demand spike has even led NextEra to consider restarting the Duane Arnold nuclear plant in Iowa, which shut down in 2020 after its biggest customer opted to exit its power-purchase agreement. More than a dozen US reactors have shut since 2013 as operators struggled to compete against cheaper power from natural gas and renewables, but with consumption soaring there’s now talk that some of them could reopen.

Ketchum said he’s had inquiries from potential data center customers that could be interested in taking advantage of the 600-megawatt Duane Arnold reactor. “I would consider it, if it could be done safely and on budget,” he said.

The CEO said he expects an almost 40% rise in US power demand over the next two decades, compared with just 9% over the previous 20 years. Renewable energy will meet most of the consumption boost because new gas-fired plants are much more expensive, take too long to connect to the grid and have to be supplied by hard-to-build gas pipelines, he said.

He said that adding battery storage to wind and solar farms can make those carbon-free sources almost as reliable in providing around-the-clock power as fossil fuels are.

“If I want to pay double, I can go with a gas-fired plant,” Ketchum said.

NextEra is the world’s largest non-government-backed developer of wind and solar energy, behind only major Chinese state-owned companies. The company has a pipeline of about 300 gigawatts of renewable and storage projects.

Deforestation and climate change

Posted on by D.Smith

 

The Rainforest Alliance explains how deforestation affects climate change and the innovative approach we take to maintain forests.

Forests offer many valuable gifts, including a crucial one: aiding in the effort to slow climate change. Trees play a vital role in capturing greenhouse gases (GHGs), such as carbon dioxide, which are responsible for warming our planet. However, when we clear forests, we not only lose our most effective ally in reducing the enormous amount of GHGs produced by human activities like burning fossil fuels in energy facilities and transportation. We also contribute to emissions by cutting down trees, which releases all the stored carbon into the atmosphere. Whether the felled trees are left to decompose or burned, it results in additional emissions. Overall, deforestation is responsible for around 10 percent of global emissions.

Deforestation robs us of a vital weapon in fighting climate change – and creates additional greenhouse gases – so why on Earth would anyone clear a forest? The main reason is agriculture. With an exploding population, big business is razing forests to plant mega crops like soy and oil palm; while on a much smaller scale, subsistence farmers often clear trees to plant crops to feed their families and make a small profit.

In spite of this, clearing rainforests for agriculture has a tragic irony: the soils beneath them are terrible. Once the forests are burned and their ashes are exhausted, farmers are left with completely useless soil because all the nutrients are locked up in them. Agricultural activity accounts for 80 percent of tropical deforestation, so they raze, plant, deplete, and repeat.

It’s no surprise that agriculture contributes to emissions; in fact, farm emissions are second only to those from the energy sector. In 2011, they made up about 13 percent of global emissions. These mainly come from methane (produced by cattle) and nitrous oxide (from fertilizers). When we look at deforestation, it becomes clear that it has a threefold impact on global warming: first, we lose a crucial carbon sink; second, felled trees release stored carbon as they decompose or are burned; and third, the replacement of forests with livestock and crops produces even more greenhouse gases. In total, these emissions account for a quarter of all global emissions.

Our analysis of the negative effects of deforestation solely focuses on emissions and does not even address the devastation that is inflicted upon forest communities or the loss of numerous plant and animal species, which disturbs the delicate balance of ecosystems. The consequences of deforestation and global warming also indirectly lead to an increase in mosquito-borne diseases and the rapid spread of Roya, a harmful plant ailment that poses a threat to our coffee supply. It is indisputable that preserving forests is crucial in combating climate change. However, with a rapidly growing global population expected to reach 9 billion by 2050, there is an urgent need to meet the demand for food. This is why at the Rainforest Alliance, we collaborate with farmers to implement various strategies like crop intensification, as well as support traditional forest-dwellers in establishing sustainable livelihoods that do not harm forests or ecosystems. With forests remaining intact, we have a better chance of succeeding in this battle.

Net metering vs. Net billing explained

Posted on by D.Smith

Ideally, your home’s solar system would perfectly match your electricity needs – no more and no less. However, there are times when the panels will generate more power than you consume (such as during sunny summer days), and other times when they may not generate enough (like on shorter or cloudier days and nights). This is where Net Metering and Net Billing come into play. These systems allow you to use the grid as storage, trading in any excess energy your panels produce for credits on your bill. Then, when your solar system can’t keep up with your electricity needs and you must rely on the grid, these credits can be used to offset the cost.

Net metering and net billing compensation structures, types of net metering and net billing, and where these programs are available nationwide are discussed in this article.

Net metering vs. Net billing

It is important to remember that net metering and net billing aren’t synonymous, despite their similarities. Depending on how participants are compensated, both programs compensate solar owners for transferring electricity to the grid when their panels overproduce. Generally, net metering credits equal the retail electricity rate (what you pay for electricity as a utility customer). On the other hand, net billing credits are equal to wholesale rates (what your utility company pays for electricity)

Net metering

Net metering allows you to receive bill credits, but the exchange is not typically in the form of money. Instead, these credits are stored and can be used when needed on overcast days. They can be carried over each month and have a one-to-one ratio with grid-produced electricity, meaning your solar panels’ output is equivalent to that of the grid. This simplifies your energy bill as you are only charged for your net usage, or consumption minus production. Net metering programs are a valuable method for solar owners to “store” their excess energy, making home solar systems even more beneficial. However, utility companies argue that since retail prices include business costs in addition to electricity value, net metering credits exceed the value of electricity and delivery.

Net billing

In net billing programs, you can sell excess energy generated by your solar panels to the utility, typically at wholesale prices, instead of “banking” the credits. Net billing is a monetary exchange in which the energy generated by your home solar system is treated like that of a large-scale solar project. However, with net billing, you will typically receive a lower compensation rate than with net metering.
Types of solar compensation programs

Types of solar compensation programs vary from state to state and utility to utility. As the renewables industry has grown and matured, different types of net metering and billing programs have emerged.

Retail net metering

One commonly used approach is retail net metering, where individuals are credited at the retail electricity rate for the energy generated by their solar panels. This can boost the worth of residential solar systems but may lower utility companies’ profits. Retail rates often encompass more than just energy expenses, with a portion being allocated to cover utility staff, maintenance, and other costs. Due to this, several utility companies are advocating for revisions to net metering policies that would offer significantly lower compensation rates for solar system owners.

Virtual net metering

Virtual net metering, also known as shared net metering, has advantages for those involved in collective renewable energy initiatives such as community solar. This system provides the same monetary reimbursement as traditional net metering, but with the added convenience of not needing the solar panels to be situated on the participants’ own properties. Instead, community solar members are typically assigned a share of a larger solar installation. If their designated portion generates surplus electricity that goes back into the grid, they will receive equal compensation through virtual net metering as if those panels were installed on their own roof.

Avoided-cost

Bill credits for avoided-cost bills differ from most retail net metering programs in that they do not correspond to a one-to-one compensation arrangement. In place of providing electricity to their homes, participants receive credits equal to the utility cost saved. As avoided-cost rates do not involve a one-to-one exchange, they can be categorized as net billing rather than net metering since they are monetary and not a one-to-one exchange.

Where can one find net metering and net billing programs?

Utilities have a tendency to resist net metering programs, and policies at the state and local level are subject to change. As previously stated, these compensation structures differ from one state or utility to another. For instance, Idaho and Texas do not require net metering, but some utilities may still provide it. To determine the specific programs offered in your area by your utility, it is advisable to seek advice from a reliable installer in your vicinity.

Some important points to remember are about net metering and net billing programs. These programs allow excess energy produced by home solar systems to be transferred to the grid, resulting in credits for the homeowner. The value of these credits is often based on the retail rate of electricity, but can also be lower depending on the program. As utilities often object to net metering, other compensation options are gaining popularity.

KEY TAKEAWAYS

  • Net metering and net billing programs use overproduced electricity from home solar systems by transferring the excess energy to the grid. You receive credits for this energy you send to the grid in exchange.
  • Net metering transactions are usually one-to-one, so the credits are often equal to the retail rate of electricity (aka what you pay).
  • Net billing credits are often equal to the wholesale rate of electricity (aka what your utility pays), which is less than the retail rate.
  • Utilities tend to oppose net metering programs, so alternative compensation programs are becoming increasingly popular.
  • Incentive and compensation programs like net metering and net billing increase the value of solar panel systems .

Rural Energy for America Program

Posted on by D.Smith

Maximizing Your Solar Investment with USDA Reap Grants

Introduction:
  In an era where sustainability and cost-efficiency are at the forefront of business decisions, investing in renewable energy sources like solar power has become increasingly popular. The USDA’s Rural Energy for America Program (REAP) offers funding and guaranteed loan financing to rural small businesses and agricultural producers looking to implement solar energy systems or make energy efficiency improvements. In this article, we will delve deeper into the benefits of REAP grants and how they can maximize your solar investment.

Understanding REAP Grants:
  The REAP program provides financial assistance to eligible entities in rural areas, covering up to 50% of eligible project costs. With recent legislative changes, the maximum grant size has increased from $500,000 to $1 million, allowing for more substantial projects to be funded. This expansion reflects a commitment towards supporting rural America in becoming more energy independent while reducing their carbon footprint.

Eligibility Criteria:
  To qualify for a REAP grant, applicants must either be qualified agricultural producers or for-profit rural small businesses that meet SBA size standards. While there are certain location requirements for small businesses, agricultural operations can be situated in non-eligible areas. The application process is straightforward but requires meticulous attention to detail in submitting all necessary documents.

Application Process and Funding Rounds:
  Under the new program structure, quarterly funding rounds provide increased opportunities for applicants to secure grants. The first round commenced on April 1st this year and closes on June 30th, followed by subsequent rounds ending on September 30th. If an application is not awarded within the fiscal year due to scoring issues or competition volume, it will automatically roll over until October when reapplication may be necessary.

Benefits of REAP Grants:
  One of the most common queries revolves around how much funding a REAP grant can cover – up to half of total project costs including solar installations. Combining federal tax incentives such as the Federal Solar Tax Investment Credit (ITC) and depreciation benefits could see up to 80% coverage on project expenses through a strategic approach.

Project Implementation Timeline:
  Upon receiving approval for a grant application from your local USDA Rural Development Office, work can commence on your solar project immediately post-acceptance or after official award notification depending on preference. However, delaying installation may impact potential savings accrued through reduced energy costs and eligibility criteria concerning tax credits tied specifically with year-end installations.

This year, China dominated clean energy growth, not the US, UK, or Germany.

Posted on by D.Smith

In 2023, the world added renewable energy at a breakneck pace, a trend that, if amplified, could help the planet move away from fossil fuels and prevent severe global warming.

Many nations adopted policies that supported renewables, some citing energy security concerns. Clean energy is often the least expensive, explaining some of the growth. In addition to high interest rates, there were persistent challenges obtaining materials and components in many places due to these factors.

In 2023, more renewable energy will be installed than all the installed power capacity of Germany and Spain combined, according to the IEA.

Mohammed bin Rashid Al Maktoum Solar Park hosts the COP28 United Nations Climate Summit in Dubai, United Arab Emirates on Monday, Dec. 11, 2023. Solar power is now the cheapest form of electricity in most countries. AP Photo/Joshua A. Bickel.

According to the International Renewable Energy Agency, China, Europe, and the US set solar installation records in a single year.

With 180 to 230 gigawatts of additions, China dwarfed all other countries, while Europe added 58 gigawatts.

Between December 2022 and November 2023, solar panel prices in Europe fell a staggering 40% to 53%, reaching record lows. According to Michael Taylor, senior analyst at IRENA, the deployment in Europe has been at breakneck speed.

Globally, solar energy is expected to surpass hydropower in 2023, but hydropower will still make more clean power for some time because it can produce electricity around the clock.

California continues to have the most solar energy in the U.S., followed by Texas, Florida, North Carolina, and Arizona. “US solar growth was largely influenced by state and federal incentives” , according to Daniel Bresette, president of the Environmental and Energy Study Institute.

Solar manufacturing also grew in the United States. As a result of the Inflation Reduction Act, more than 60 solar manufacturing facilities were announced in the last year, according to Abigail Ross Hopper, the president and CEO of the Solar Energy Industries Association.Wind energy will power nearly 80 million homes by 2023, making it a record year for wind energy.

According to Wood Mackenzie research, most of the growth, or more than 58 gigawatts, occurred in China. According to the Global Energy Monitor, if planned projects are all built, China will surpass its ambitious 2030 goal of 1,200 gigawatts of utility-scale solar and wind power capacity five years ahead of schedule.

Among the few wind markets that grew this year were China, the Global Wind Energy Council reported. Wood Mackenzie reported that installations in Europe were down 6% year-over-year due to faster permitting and other improvements in key markets like Germany and India.

Many ocean wind developers had to renegotiate or even cancel project contracts as a result of high inflation, rising interest rates, and rising building materials costs, while some land-based wind developers had to delay projects until 2024 or 2025 due to short-term challenges.

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The Climate Pledge announces 100 new signatories

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The Climate Pledge, a commitment to meet the Paris Agreement 10 years ahead of schedule, has gained significant traction with over 300 businesses from 51 industries and 29 countries now on board. This marks a remarkable growth of almost 600% in signatories since its announcement by Amazon and Global Optimism. The latest additions include major players such as Maersk, SAP, Weyerhaeuser, Sunrun, and HARMAN, among others.

Climate Pledge signatories must agree to:

  • Measure and report greenhouse gas emissions on a regular basis.
  • Implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies.
  • Neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets to achieve net-zero annual carbon emissions by 2040.

“The effects of climate change are becoming more and more apparent in our surroundings and daily lives, and we firmly believe that the private sector must continue to innovate and collaborate across regions and industries in order to decarbonize the global economy at scale,” said Andy Jassy, Amazon CEO. “It’s an encouraging sign that more than 300 businesses have now signed The Climate Pledge, which commits them to confronting climate change head-on by incorporating real business changes that will make a lasting impact on our planet. We can only do it together.”

Carbon emissions have already been reduced by many of the new Pledge signatories:

Maersk

Maersk is providing industry-leading green customer offerings across the supply chain, including Maersk ECO Delivery, which targets emission reductions in ocean shipping. As of 2020, Amazon participates in this service. As a result of Amazon’s participation in 2021, emissions will be reduced by approximately 20 KTonnes of CO2e (the equivalent of 50 million average passenger vehicle miles).

According to Soren Skou, CEO of A.P. Moller-Maersk, addressing the climate emergency and reducing carbon emissions from our customers’ supply chains is a crucial goal for our company. That’s why we accelerated our efforts in January 2021, committing to achieving net-zero emissions by 2040 – ten years earlier than initially planned and in alignment with the Paris Agreement. To achieve this ambitious target, urgent action is needed from all of us. That’s why we are excited about joining The Climate Pledge alongside some of our key customers. We see this as an opportunity to collaborate, exchange knowledge and solutions, and drive significant progress towards a more sustainable future together.

SAP

Earlier this year, SAP accelerated its goal of reaching net-zero carbon emissions by 20 years.

SAP CEO Christian Klein said, “Climate change is one of the greatest challenges of our time, and now is the time to act.” With the help of technology, we can create a lasting, positive impact on future generations, and SAP is proud to join The Climate Pledge.

Weyerhaeuser

In addition to managing forests sustainably and manufacturing wood products, Weyerhaeuser protects wildlife habitat and serves as a natural climate solution through carbon sequestration and storage, as well as providing a sustainable supply of wood for homes and countless other products. After harvesting, Weyerhaeuser plants 130 million to 150 million trees each year to reforest 100% of its timberlands.

According to Devin W. Stockfish, president and CEO of Weyerhaeuser:“Sustainability has been a guiding principle at Weyerhaeuser for well over a century, and we have long believed that our company has an obligation to make a positive impact in our communities and for society more broadly,” said Devin W. Stockfish, Weyerhaeuser president and CEO. “Our working forests and the sustainable wood products we produce play a critical role in helping to mitigate the impacts of climate change. And as part of our ongoing sustainability efforts, we have published our inaugural, peer-leading Carbon Record and established a leadership position among our North American industry peers by setting an ambitious, science-based greenhouse gas reduction target. Signing on to The Climate Pledge reflects our commitment to achieve these goals and to help lead on the path to net-zero emissions globally.”

The business community must have a clear path forward: Step up and accelerate emission reductions so that we might be able to avoid the worst of the damages yet to come.

Former Climate Chief of the United Nations, Christiana Figueres founded Global Optimism.

Sunrun

Sunrun’s systems have prevented 8.1 million metric tons of carbon emissions, which is equivalent to negating 20 billion miles driven by an average car.

“At Sunrun, people and the planet are our north star,” said Mary Powell, Sunrun CEO. “Since our founding, we’ve helped more than 660,000 customers across the U.S. switch to clean energy and reduce their carbon emissions through our home solar and battery storage systems, and we’re just getting started. We’re laser focused on finding more ways to electrify homes and enable all Americans to take action on climate change, reduce energy costs, and gain energy independence. We are proud to demonstrate this commitment by signing the Climate Pledge alongside other sustainability leaders.”

HARMAN

HARMAN’s strong emphasis on purpose extends to its commitment to sustainability, which is a crucial business pillar. In line with this, HARMAN has set a goal to achieve net-zero carbon emissions across all three scopes by 2040. To actively work towards this goal, the company has established ambitious and measurable short-term targets to decrease emissions, energy consumption, and waste throughout its value chain. Additionally, HARMAN has introduced product lines made from sustainably sourced and recycled materials and plans to switch to 100% renewable energy for all its factories by 2025.

“At HARMAN, we know that driving sustainability is an ongoing journey that benefits from constant collaboration,” said Tom Mooney, HARMAN senior director of Government Affairs and Sustainability. “Each of the other Climate Pledge signatories is as committed as we are to building a more sustainable future and understands the value of working together toward our common goal. We’re excited to be joining forces with this community of innovators and thought leaders to create meaningful change.”

Amazon’s dedication to creating an environmentally responsible business for our customers and the planet is evident in our active involvement in The Climate Pledge. Launched in 2019, this pledge commits us to achieving net zero carbon emissions across our operations by 2040, a decade ahead of the Paris Agreement. Our $2 billion Climate Pledge Fund, which invests in companies that support our mission, has also welcomed BETA Technologies and Infinium into its portfolio. These innovative companies are focused on reducing carbon emissions in the global transportation industry, which was responsible for 7.3 billion metric tons of emissions in 2020. It is worth noting that nearly 13% of signatories to The Climate Pledge come from the transportation, aviation, and logistics sectors, indicating a strong demand for products and services that align with our goal of decarbonization in this critical sector.

The new signatory Pachama, an investee of the Climate Pledge Fund, brings quality, transparency, and scale to nature-based carbon markets. With Pachama, organizations and individuals can compensate for their emissions with confidence by supporting reforestation and forest conservation projects by measuring and monitoring carbon stored in forests over time.

In its latest report, the Intergovernmental Panel on Climate Change calls for immediate action to reduce greenhouse gas emissions, to invest in natural climate solutions, and to mitigate damage.

According to Christiana Figueres, co-founder of Global Optimism and former climate chief for the United Nations, businesses must take action in order to prevent the potential devastation outlined by recent scientific findings. The Climate Pledge, which aims to achieve net-zero emissions by 2040 or earlier, has already gained the commitment of 300 companies. However, this alone is not sufficient to bring about the necessary changes. It is imperative that all business leaders thoroughly understand the science and make swift changes in their operations without hesitation.

As part of their commitment to reach the Paris Agreement 10 years early and become net-zero carbon by 2040, Amazon and Global Optimism co-founded The Climate Pledge in 2019. There are now 312 organizations that have signed The Climate Pledge, signaling a rapid rise in the demand for carbon-reducing products and services.

Discover how all 312 signatories of The Climate Pledge are decarbonizing their businesses.

 

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Unlocking Opportunity with the REAP Grant: Empowering Rural Energy Solutions

Posted on by D.Smith

The Rural Energy for America Program (REAP) grant, administered by the United States Department of Agriculture (USDA), offers a transformative opportunity for agricultural producers and rural small businesses to invest in energy efficiency improvements and renewable energy projects. By leveraging the REAP grant, businesses can achieve significant cost savings, reduce environmental impact, and contribute to the sustainability of rural communities.

  

                 Benefits:

      1. Financial Support: The REAP grant provides funding to cover up to 25% to 75% of the total project costs, enabling businesses to implement energy-efficient technologies and renewable energy systems with reduced financial burden.

      1. Cost Savings and Efficiency: By investing in energy-efficient equipment and renewable energy systems, businesses can realize long-term cost savings through reduced energy consumption and operational expenses.

      1. Environmental Impact: Embracing renewable energy solutions supported by the REAP grant contributes to environmental sustainability, reducing carbon footprint and promoting a cleaner, greener future for rural communities.

      1. Business Growth and Competitiveness: Implementing energy-efficient technologies can enhance the competitiveness of businesses, attract environmentally conscious consumers, and position them as leaders in sustainable practices.

    Requirements:

        1. Eligibility Criteria: To qualify for the REAP grant, businesses must meet specific eligibility criteria, including being located in a rural area, demonstrating financial need, and complying with program regulations.

        1. Project Feasibility: Applicants are required to submit a comprehensive project proposal outlining the scope, budget, and expected outcomes of the energy efficiency or renewable energy project.

        1. Compliance and Reporting: Successful applicants must adhere to program guidelines, comply with reporting requirements, and ensure that funded projects align with the objectives of the REAP program.

      The REAP grant presents a compelling opportunity for businesses to embrace sustainable energy solutions, drive operational efficiency, and contribute to the vitality of rural communities. By leveraging the financial support and guidance offered by the REAP program, businesses can embark on a journey towards energy sustainability, cost savings, and environmental stewardship.

      Department of Agriculture Press release 

      We have specialized REAP loan officers and grant writers to help our customers through this process.

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      The Cost of Commercial Solar

      Posted on by D.Smith

      Costs of commercial solar

      In comparison to residential solar systems, commercial solar projects usually cost more than most residential systems due to their size. There is no one size fits all, and while some small businesses may find great value in a $60,000 commercial system, large industrial facilities or solar farms can cost over $1 million to set up.

      There are still several tax credits, rebates, and incentives available for commercial solar panel systems just as they do for residential solar panel systems.

      COMMERCIAL SOLAR PANEL INCENTIVE

      Federal solar tax credit

      The federal solar investment tax credit (ITC) allows a deduction of 30% of the cost of a commercial solar installation.

      Bonus depreciation through MACRS

      Under MACRS, businesses can take advantage of bonus depreciation to claim tax deductions for the depreciation of eligible solar equipment. This incentive applies to commercial solar installations completed before January 1st 2027, allowing companies to recover their investment within five years. Since 2008, bonus depreciation has been incorporated into MACRS, enabling businesses to allocate the full depreciable value in just one year. Essentially, MACRS provides a means for businesses to expedite their return on investment by utilizing tax deductions.

      Net metering

      Net metering, or NEM, is a benefit available to businesses that produce their own energy through solar panels. Similar to residential customers, these commercial properties can sell excess energy back to the grid and receive credits from their utility company. These credits can then be used to offset energy costs during times when solar production may be lower, such as at night or on cloudy days. However, net metering is becoming less common nationwide, which could affect the amount of savings for those currently utilizing this perk in the future.

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      Unleash the Power of Commercial Solar Panel Systems: A Game-changer for your Business

      Posted on by D.Smith

      Imagine a world where you are at the helm of a successful, sustainable business and save millions by producing your own electricity. Welcome to the world of commercial solar panel systems. With businesses getting smarter about their investments, many are turning to solar energy as a solution. But, why are they making the switch?

      Let’s explore.

      Understanding Commercial Solar Power

      Commercial solar systems are not limited to large-scale utility. It can also include smaller setups like rooftop or ground-mounted installations for businesses, also called “distributed generation.” These setups generate power at or near the point of usage, reducing transmission losses. Any excess energy is fed back into the grid, earning you valuable bill credits under net metering policies.

      Why Businesses are Going Solar

      Affordability and Financial  Incentives

      Deterred by the upfront costs? Don’t be. Numerous financial incentives substantially reduce the initial cost of solar panel systems. Federal Investment Tax Credit (ITC), Production Tax Credit (PTC), Modified Accelerated Cost Recovery System (MACRS) Bonus depreciation, and Net metering are a few favorable policies that can bring down your system’s cost by nearly 70%!

      Return on Investment (ROI)

      With companies spending thousands on electricity each year, businesses can save up to $101,259 over 20 years with a solar panel system that offsets 90% of their energy consumption. Beyond savings, solar provides a hedge against volatile energy prices, making budgeting easier.

      Attract More Customers

      In a world increasingly valuing sustainability, solar panel systems can enhance your brand image. According to PwC’s 2021 survey, 83% of consumers believe companies should endorse Environmental, Social, and Governance (ESG) best practices. Having a solar-powered business aligns you with consumer values, potentially increasing your customer base.

      Employee Satisfaction

      Just as customers are drawn to sustainable companies, so are employees. A PwC 2021 survey found that 86% of employees preferred to work for companies that care about the same issues they do. Showcasing your commitment to solar power could improve employee retention and productivity.

      Support for the Local Economy

      Going solar means supporting your local economy. With an increase in solar projects, job availability in the solar sector also rises. As of 2023, there are over 350,000 solar jobs nationwide, a 9% increase YoY. By installing a solar energy system, you could contribute to job creation and potentially gain new customers from the industry.

      Conclusion

      Commercial solar panel systems are not just about generating clean energy. They offer potential cost savings, customer and employee satisfaction, and provide a substantial contribution to the local economy. Isn’t it time for your business to step into the future and go solar?

      For a free Energy Audit to see if solar is a good fit for your business.

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