If you have a business and would like to install solar to either reduce or eliminate your electric bill, there are several resources you can take advantage of. Take a look at the following and see if your business can take advantage of these helpful resources.
Depreciation and Tax Credits. All businesses that choose to install a solar system on their facility will be able to depreciate the total cost of their system as a normal business expense over five years. This is in addition to the 30% federal tax credit they will automatically qualify for.
REAP Grants. The US Department of Agriculture also offers loan guarantees and up to 25% of the total cost to go solar for agricultural producers and small, rural businesses through their Rural Energy for America Program (REAP). Most businesses located outside of metro areas are candidates. Check the USDA website to see if you qualify.
PACE. The state of Missouri offers the Property Assessed Clean Energy program (PACE) that allows businesses in participating areas to finance the cost of their system for up to 20 years with repayment added to each year’s property tax. However, participants must be in a city or county that has agreed to participate in PACE. Be sure to check their website to see if your area qualifies.