Do you want to make your business more profitable, cut costs, promote energy efficiency and use solar to enhance your brand and save money by making your business greener? Commercial solar in Washington, DC benefits both from the best market for Solar Renewable Energy Credits (SRECs) in the United States, as well as from commercial PACE (Property Assessed Clean Energy) financing, which allows businesses to take out a low interest loan and amortize over 20 years, with payments being tacked on to their property taxes.
When combined with the Investment Tax Credit, businesses that build a solar system valued at an installed cost of $200,000 or greater (about 60 kilowatts), can benefit from significant Federal and local incentives upfront, while that loan payment is spread over 20 years. For a system that costs $200,000, the business owner would recoup $60,000 on its first year’s tax returns after interconnection of the system, and over $24,000 per year in solar income from SRECs, and electricity savings of over $7,000. With annual loan payments of $14,448, a business owner could realize a first-year profit of $76,752, and a profit of $142,760 after just 5 years.
SRECs will continue to provide a solar income for the next 15 years, with the DC Council having extended the Renewable Portfolio Standard through 2032 with a local solar carve-out requirement for 5% of DC’s electricity to come from solar installations in the city. That means SREC solar income will likely continue to exceed loan payments for most of the loan term, with energy savings continuing for the life of the system.
Commercial solar has never made more sense than it does today in Washington, D.C. Ipsun Solar and its partners provide a range of financing options in addition to PACE, and can help you gain the highest possible return out of your solar system. To request more information contact us at [email protected]