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Financial Benefits of
Commercial Solar Energy
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A
number of factors make the investment in a solar
electric system a sound business decision with extremely
favorable rates of return. They include federal tax
credits and grants, energy savings, S-RECs, and very low
maintenance costs. |
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Federal Tax
Credits and Grants:
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In
2008, Congress enacted the most significant federal
policy ever for the solar industry. This monumental
legislation gives you an incredible 30% federal tax
credit for installing a solar electric system for your
home or business! The credit is equal to 30% of
expenditures, with no maximum credit. Better yet, you
have until the year 2016 to take advantage.
The American Recovery and Reinvestment Act of 2009
allows you to receive a grant from the U.S. Treasury
Department instead of taking the tax credits. The
Department of Treasury has issued documents detailing
guidelines for the grants, terms and conditions, and a
sample application. The grant is equal to 30% of the
basis of the property for solar energy, and is not
included in the gross income of the taxpayer.
Consult your tax advisor for more information about the
generous grants and federal tax investment credits
available or visit the Database of State Incentives for
Renewables and Efficiency (DSIRE) at
www.dsire.org. |
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Substantial Energy
Savings:
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Electricity expenses are a sizable part of any company’s
overhead. By installing a solar system from Hannah
Solar, you will eliminate a substantial part of that
expense in two ways:
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Once you system is installed, solar energy will cost
you nothing. Thus, you will not be paying for the
electrical needs that are met by your system.
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You will be credited for any surplus electricity you
generated. This is called net metering. With net
metering, your electric meters will actually spin
backwards as the electricity in excess of your needs
is automatically fed into the grid.
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The impact of net metering will depend on your pattern
of electrical usage. This is affected by your energy
requirements during peak hours, how much surplus you
generate during daylight hours, and how much electricity
you use at night. At the end of the year, your usage
will be averaged out and your utility company will give
you credit for all the surplus electricity in excess of
what you used. |
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Make Money with Your SRECs
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Solar
Renewable Energy Certificates (SRECs)
are an important component in your
financial analysis of solar power. As a
provider and user of responsible,
renewable energy, you will be paid for
your environmental contribution. And
you’ll be paid in SRECs.
Let’s say
you own a solar electric system. Every
time your solar system generates
1,000kWh of electricity, your local
utility authority will issue you one
SREC. These certificates are tradable
for cash. You may keep them or sell
them. Either way, the SREC program can
quickly increase your return on
investment in solar electricity.
SRECs
can sell for anywhere from $200 – $600
depending on the state you sell them in.
Remember: An SREC represents 1,000 kWh
of electricity… so that’s $0.20 – $0.60
per kWh. This is two to four times
higher than the price of non-renewable
electricity. That means selling your
solar electricity will actually earn you
more money than what you save on your
electric bill!
As a
Hannah Solar customer, you can have us
handle the sale of your certificates,
paying you the net proceeds… or use the
marketplace to trade the SRECs yourself.
Either way… when you buy your system
from Hannah Solar, we will handle all
the paperwork for you. The only thing
you have to do is cash your checks! |
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Very Little
Maintenance
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Your
solar system will create no harmful
by-products, use no raw materials, have
no moving parts, and pose no safety
hazard. The individual photovoltaic (PV)
cells will be encased in a protective
shell behind a sheet of glass to form
one solar panel. Each panel will be
enclosed with a self-contained metal
frame. The construction is proven,
well-made, and durable. Your maintenance
costs will be very minimal.
Once
installed, your solar system will
reliably produce no-cost electricity for
many, many years. The inverter has an
expected life in excess of 15 years,
with a warranty for seven. Each solar
panel is backed by a 25-year
manufacturer's warranty and is expected
to have a useful lifespan in excess of
40 – 50 years. |
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Given
the advantages of federal tax credits
and grants, energy savings, S-RECs, and
limited maintenance costs, an investment
into a Hannah Solar system is a smart,
profitable business decision with a very
high return on investment. Contact a
representative from Hannah Solar today
so we can conduct a feasibility study
for your commercial/industrial energy
needs. |
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