Installing solar for your business is a great way to turn your rooftop into a revenue stream…
SunWatt can help you decide if a commercial solar array is a smart investment for your company. Whether you do business in Rhode Island or Massachusetts we can help you navigate the solar incentive process and design an array that yields the best return.
Business Owners can Benefit from a Solar Energy System in three ways:
1) Federal Renewable Energy Income Tax Credit: Valued at 30% of the total project cost..
- ITC can be used in the first year or carried over.
- Valued at 30% thru 2019 and then tapers…
2) Accelerated MACRS Bonus Depreciation:
- Depreciation Basis is 85% of the original commercial solar project cost before the ITC deduction.
- Accelerated schedule for six years: Y1: 60%, Y2: 16%, Y3: 9.6%, Y4: 5.76%, Y5: 5.76% and Y6: 2.88%…
3) Guaranteed Performance Based Incentive revenue streams: Including the Renewable Energy Growth Tariff Program in Rhode Island and the SREC program in Massachusetts.
- Contracted payments for solar electric generation thru the utility.
- Can be worth up to twice the current retail rate of electricity guarenteed for up to 20 years.
Nearly 50% of a Commercial Solar Investment
can be recouped in Year 1 and 60% by year 6
from the ITC and Depreciation alone
independent of Cash Flows!
Rhode Island Commercial Solar Energy Incentive Programs
RI Renewable Energy Fund Grant(REF)
- Grant Money Awarded in Blocks.
- Offsets the upfront cost of solar.
- Tied to Directly to Net Metering.
- Reduces cost by between 25%-30%.
- Funding at $1.00/watt; max $150k.
- Limited Funds Available.
Electric Usage Must Match Production
Renewable Energy Growth Program (REG)
- Launched in April 2015 as a Performance Based Incentive (PBI).
- Solar Tariff payment based on production.
- Contracted directly with National Grid.
- Not tied to Net Metering.
- Funds available toward RPS standards
Production is Independent of Usage