Commercial-Savings

Save money with solar panels

Even a small system can save a business more than $10,000 income taxes.

With solar system you save twice

Most commercial system costs are reduced by almost 50% with government incentives. A typical system saves over $5,000 every year by reducing your electric bill and producing solar renewable energy credits (SRECs). In this way, you save twice — at the moment of buying and during the decades of solar energy production.

Solar system pays for itself in 3-5 years

Green Street Solar takes care of the application process and coordinates on your behalf the applications, permits and related paperwork. It is through the combination of all available programs and incentives that you will benefit from substantial savings. This is how a typical system installed on a business in Maryland works.

System Cost

System Price Federal Tax Credit State Grant USDA Grant Total Cost
$50,000 - $16,000 - $1,500 -$12,500 $20,000

Savings for 5 years

Energy Credits Electric Savings tax savings Total Savings
$1,000 $30,000 $20,000 $15,260
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Federal Tax Credit

A 30% tax credit allows the business owner to claim a credit on Federal income taxes worth 30% of the installed cost of a solar facility. There is no maximum set for the credit. There are provisions for carryback of the credit to previous years and carry forward of the credit to future tax years.

Current federal and state tax incentives, as well as the USDA REAP Grant, help make the upfront costs of a solar panel installation more affordable to your business. Many states and municipalities exempt solar installations from raising your property taxes. And through the Modified Accelerated Cost Recovery System (MACRS), you can quickly recover your investment through a 5-year tax depreciation schedule.

Commercial Clean Energy Grant Program

To help Maryland business owners invest in clean energy, the Maryland Energy Administration (MEA) provides grants for solar photovoltaic systems, solar water heating, geothermal heating & cooling, and wind turbine systems at incentive levels. Learn more about Commercial Clean Energy Grant Program

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Morning: meter spinning slowly

System starts producing energy. Meter is slowing down

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Noon: meter spinning backward

Sun generates more power than needed. Energy is sent back to the power company

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Night: meter spinning forward

No power produced. Energy comes from power company

Start saving with solar panels

Get control over energy costs and save on your monthly bill. Please, fill out the form and our expert will contact you.