This aspect is perhaps the most well-known. The Federal Solar Investment Tax Credit (ITC) and 5-Year Modified Accelerated Cost Recovery System (MACRS) have been essential drivers in reducing costs for companies going solar. Many other rebates and incentives exist for state, municipal, and utility levels. You can learn more about specific locations by searching the Database of State Incentives for Renewables & Energy.
Net metering is the most common solution to handle surplus electricity from solar panels. In Texas, many electricity providers will buy back or credit you for excess solar power. However, Texas does not mandate net metering by law, but many Retail Electricity Providers (REPs) and municipal power companies offer the benefit. Your energy advisor will walk you through your options during your free consultation.
While most companies have heard of net metering, perhaps one of the least talked about but critical topics are rate structure’s role. When possible, having the ability to rate switch to the best utility rate structure is extremely helpful in creating a winning financial scenario.
Right now is a time of great opportunity for going solar. The right partner, like Connected Energy, can help you assemble the most financially advantageous combination of incentives, rate structures, financing, and investors (when applicable) to help your business achieve the maximum benefits and value from your solar project.