Commercial Solar Incentives
Core Development Group has expertise in state and local incentives to help your organization transition to cleaner energy. From commercial solar systems to commercial EV charging stations, let us show you how to maximize the potential of your commercial property with state and federal government incentives to optimize your return on clean energy investments.
RENEWABLE ENERGY INCENTIVES
Federal, state, and local governments, as well as local electric utilities, encourage investing in clean energy solutions and using renewable energy. Incentives provide financial assistance to promote increased energy efficiency and the use of clean, renewable sources of energy. Such incentives provide benefits including economic stimulus, lower pollution, lower technology costs, and reduced demand for electricity.
GOVERNMENT FINANCIAL INCENTIVES
Several federal government tax credits, grants, and loan programs are available for qualifying renewable energy technologies and projects. The federal tax incentives, or credits, for qualifying renewable energy projects or equipment include the Renewable Electricity Production Tax Credit (PTC), the Investment Tax Credit (ITC), and the Modified Accelerated Cost-Recovery System (MACRS). Grant and loan programs may be available from several government agencies, including the U.S. Department of Agriculture, the U.S. Department of Energy (DOE), and the U.S. Department of the Interior. Most states have some financial incentives available to support or subsidize the installation of renewable energy equipment.
RENEWABLE PORTFOLIO STANDARDS AND STATE MANDATES OR GOALS
A renewable portfolio standard (RPS) typically requires that a percentage of electric power sales in a state comes from renewable energy sources. Some states have specific mandates for power generation from renewable energy, and some states have voluntary goals. Compliance with RPS policies will sometimes require or allow trading of Renewable Energy Certificates (RECs).
RENEWABLE ENERGY CERTIFICATES OR CREDITS (RECS)
Environmental Benefits are monetized through a program called Renewable Energy Certificates (RECs) in the U.S., which are generated every time a solar system generates a MWh of electricity. RECs can be used by electric utilities and private companies to comply with state renewable energy portfolio standards.
BUSINESS OR COMMERCIAL & INDUSTRIAL RENEWABLE ENERGY INCENTIVES
Transitioning to cleaner energy makes financial sense for almost all commercial properties. No matter what kind of business you have, renewable energy (including solar energy) can offset your energy costs and reduce your bills during times of peak demand. Whether your business is looking to cut utility costs, find new sources of revenue, or demonstrate your commitment to the environment, our renewable energy solutions can help your commitment to sustainability. Manufacturers, commercial operations, landowners, and Fortune 100 corporations can benefit with incentives to transition to cleaner energy solutions.
Core Development Group has expertise in state and local incentives. Let us show you how to maximize the potential of your commercial property with state and federal government incentives to optimize your return on clean energy investments.