Attention Commercial Property Owners and Managers: Now is the Best Time to Invest in Solar!
**Guest blog by Don Moreland, Solar Crowdsource founder**
What many commercial property owners and managers don’t realize is that NOW is the best time to invest in solar. Why?
Consider these socio-economic drivers that are making solar one of the fastest growing industries in Georgia and the country.
Cost. The cost of solar has come down 70% since 2010, now making solar “competitive with all other forms of energy generation.” Utilities all over the country are investing in solar, including right here in Georgia, because it’s cheap, reliable, the fuel source is free (the sun) and relatively maintenance free. In fact, in the last 5 years, solar has topped the list of all new generation capacity added in the US during that time.
If it makes since for utilities to invest in solar, then shouldn’t it also make sense for property owners to invest in solar? If you own or manage a building or adjacent property suitable for solar, then why wouldn’t you invest in solar? Using your own property to generate your own energy at a cost at or less than what you get from the utility seems like a no brainer, right? Well, it get’s better.
“There are lots of ways in which being more sustainable will help your business. It will help you become more efficient, improve your brand value and reputation, provide a platform for innovation, help attract and retain staff, achieve better growth, cut costs and strengthen stakeholder relations.” Sustainable Business Network
Tax Incentives. Two federal tax incentives are available for commercial property owners can help offset over 50% of the upfront cost in year one. The 30% Investment Tax Credit (ITC) on the total cost of installation is available for systems installed before the end of 2019. The tax credit begins to phase out after that, eventually leveling out to 10% in 2023.
Bonus depreciation is another tax incentive that can help offset the upfront cost of solar. Because you can depreciate 100% of the basis in year one, business owners can offset another 20-25%. Bonus depreciation plus the 30% tax credit can help realize paybacks within 5-6 years and 10-year IRR of about 14%!
Solarize Atlanta. Now through the end of 2018, businesses and non-profit entities can sign up with Solarize Atlanta to get group purchase, volume discounts on materials and labor AND a free, no-obligation solar evaluation. The more commercial property owners that invest in solar, the lower the price for all.
The city of Atlanta, which is a Solarize Atlanta partner, recently pledged to go 100% renewable energy by 2035. This campaign is an important part of the effort and first step to reach that goal.
So commercial property owners and managers of Atlanta: there really has never been a better time to consider solar energy for your building. With costs dropping, tax incentives soon phasing out, and Solarize Atlanta offering additional discounts and industry-wide support, do yourself a favor and sign up for a no-obligation solar evaluation. Get the information you need to make smart business decisions. It’s free, there’s nothing to lose, and at least you can say you didn’t let this opportunity pass you by.
Go to solarizeATL.com and hit the green “Solarize Now” button to get started.
