Incentives For Commercial Solar
Commercial solar incentives can help you buffer the cost of a commercial solar installation. Lifetime Solar can help you determine how much money your Las Vegas business will save by using solar panels.
Some available incentives include the following.
- Business Energy Investment Tax Credit (ITC)
- The Production Tax Credit (PTC)
- The Nevada Renewable Energy Tax Abatement
Nevada seems like the perfect state for businesses to convert to solar or install panels right at the start with year-round sun exposure. Your business can save money, boost its reputation, and become more sustainable with commercial solar systems.
How Does My Business Benefit From Solar Panels?
Commercial solar installation is becoming more affordable for all businesses. With a professionally designed and installed solar power system, panels quickly pay for themselves in the Vegas Valley.
Some of the other benefits of commercial solar include the below.
- Reduce Power Bills & Overall Operating Costs
- Guaranteed Return On Investment (ROI)
- Improve Efficiency
- Increase Marketability
- Low Maintenance
- Provides Electricity During Blackouts
Federal Solar Incentives For Your Business
Businesses, nonprofits, and other institutions may take advantage of the federal tax credits available for solar installation. One tax credit is the investment tax credit (ITC), which reduces the federal income tax liability for a percentage of the cost of a solar system installed in the past fiscal year.
The other available option is the production tax credit, which is a per-kilowatt-hour (kWh) tax credit for electricity generated by solar energy for the first 10 years of your system’s life. This receives an annual adjustment for inflation.
Can I Claim Both Federal Incentives?
You typically cannot claim both the ITC and the PTC. The ITC could apply to other forms of renewable energy or storage. You also cannot receive the ITC or the PTC if you own a tax-exempt entity, such as a school.
Nevada Solar Incentives
In addition to federal tax credits, local solar panel incentives help businesses in Las Vegas to put money back in the bank. Some of these solar rebates and credits vary by the size of your solar power system and the amount of power it generates. Some of these options include the following.
- The Renewable Energy Tax Abatement Program
- NV Energy – Energy Storage Incentives
- NV Energy Net Metering Credits
The Renewable Energy Tax Abatement program gives partial sales and use tax, as well as partial property tax abatements to renewable energy facilities.
Las Vegas Commercial Solar Installation
Lifetime Solar can provide you with professional solar panel system design and installation services. We can even help you determine how much you can receive in tax credits. Call us today for a quote for your new commercial solar panels in Las Vegas.