Save money with solar panels
Even a small system can save a business more than $10,000 income taxes.
With a 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.
A 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 Price||Federal Tax Credit||State Grant||USDA Grant||Total Cost|
|$50,000||- $15,000||- $1,500||-$12,500||$21,000|
Savings for 10 years
|Energy Credits||Electric Savings||tax savings||Total Savings|
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
Morning: meter spinning slowly
System starts producing energy. Meter is slowing down
Noon: meter spinning backward
Sun generates more power than needed. Energy is sent back to the power company
Night: meter spinning forward
No power produced. Energy comes from power company