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Solar for Businesses in Columbus and Central Ohio

Solar Power Means Business

With a solar power system, your Columbus or Central Ohio business can realize significant cost savings on the electricity it uses every day while at the same time demonstrating the kind of social and environmental responsibility clients and investors can be proud to support. Ecohouse Solar helps businesses by cutting utility expenses using clean, renewable energy at a rate below the utility market price. Our solar power service for businesses includes financing and managing all aspects of design and installation of your  solar energy system.  This allows you to reduce the risk and volatility of your energy portfolio so you can focus on what you do best in your business.

The economics of solar work best for commercial installations, especially if your business is in a rural area of Central Ohio. You may be eligible for a grant that pays 25% of the cost. The other incentives for commercial solar are a 30% Federal Tax Credit, accelerated depreciation schedule and sales of Solar Renewable Energy Credits.

Solar is good for business because it can reduce businesses annual energy cost, while still valuating their environmental stewardship by reducing their overall carbon footprint

Solar for Business – Incentives:

30% Federal Tax Credit
A business may claim a credit of 30% of qualified expenditures for a solar electric system that is owned and used by the tax-paying business. Expenditures with respect to the equipment are treated as made when the installation is completed. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the business. A number of changes to this credit are scheduled to take effect for systems placed in service after December 31, 2016.

Rural Energy for America Program (REAP)
The USDA REAP grant promotes energy efficiency and renewable energy for agricultural producers and rural small businesses through the use of (1) grants and loan guarantees for energy efficiency improvements and renewable energy systems, and (2) grants for energy audits and renewable energy development assistance. The grant cannot exceed 25% of the total eligible project costs. The loan funds must be used to purchase a renewable energy system or make an energy efficiency improvement to an existing facility.

Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in solar electric installations through depreciation deductions. MACRS establishes a set of class lives for various types of property, ranging from three to 50 years, over which the property may be depreciated. Solar electric is classified as five-year property eligible for accelerated depreciation. Under this federal tax incentive, the business owner is entitled to deduct a significant portion of the adjusted basis of the property during the tax year the property is first placed in service.

Solar Renewable Energy Credits (SRECs) are another type of incentive that can be sold on the market as a commodity. Income is then generated over time, based on the production of the solar system. While RECs are not actually a measure of power, each REC represents one megawatt hour (MWh) of renewable-generated energy that offsets conventional energy use.