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Financial Benefits of
Agricultural Solar Energy
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A number of factors make
the investment in a solar electric system for your farm
a sound business decision. They include federal tax
credits and grants, energy savings, S-RECs, and low
maintenance costs. |
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Federal Tax Credits
and Grants
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In
2008, Congress enacted a significant federal policy for
the solar industry. This monumental legislation gives
you an incredible 30% federal tax credit for installing
a solar electric system for your home, farm, 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!
Even newer legislation
allows you to receive a grant from the U.S. Treasury
Department instead of taking the tax credits. Check out
our page about Types of Financial Assistance for more
information. |
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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:
1. 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.
2. You will be
credited for any surplus electricity you generate. 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.
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
farming/agricultural energy needs. |
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