To help you decide whether renewable energy is right for your Las Vegas business, Lifetime Solar has put together information on commercial solar incentives. With year-round sun exposure, Nevada seems like the perfect state for businesses to convert to solar, or install panels right at the start. But what are the benefits to your company’s bottom line?
Benefits Of Commercial Solar
Commercial solar installation is becoming more and more affordable. With a professionally designed and installed solar power system, your panels will quickly pay for themselves in the Vegas Valley. Caring about the environment is also an attractive selling point to customers and potential residents.
Knowing you’re freeing your company from ever-increasing electricity and gas bills is reason enough for many business owners and property managers to consider going solar. With no moving parts, you can save on the repair, maintenance, and replacement costs associated with traditional electric and gas-powered systems.
- Reduce Your Power Bills & Overall Operating Costs
- Guaranteed ROI – Pays For Itself Over Time
- Improve Energy – Efficiency
- Increase Marketability
- Little-To-No Maintenance
Federal Incentives For Businesses
Federal incentives for commercial solar panels change all the time. In 2020, many businesses are eligible for beneficial solar tax credits to offset the costs of your system upfront and overtime. Figuring out if your particular business qualifies for these credits (and the exact benefit amounts) should be determined by a qualified tax preparer or accountant.
Many of these credits will be reducing or ending after 2020.
- Business Energy Investment Tax Credit (ITC) – 26%
- 5-Year Modified Accelerated Cost-Recovery System (MACRS) – 25%
- Tax Cuts and Jobs Act Of 2017 – Bonus Depreciation To 100%
Nevada State Renewable Energy Incentives
In addition to federal tax credits, there are also local solar panel incentives for businesses in Las Vegas. Some of these solar rebates and credits vary by the size of your solar power system and the amount of power it generates. So, it’s important to have your commercial panels installed efficiently and accurately by a reputable commercial solar company, like Lifetime Solar.
Again, it’s essential to have a tax or accounting professional assess your eligibility for these solar rebates and credits. For example, NV Energy frequently changes its Power Shift incentive offerings, or they offer new incentives for a limited time.
- The Renewable Energy Tax Abatement Program
- NV Energy – Energy Storage Incentives
- NV Energy Net Metering Credits
Commercial Solar Installation In LV
Lifetime Solar can provide you with professional solar panel system design and installation services if your new, or existing, commercial property is eligible for federal or state solar energy rebates in Nevada. Call us today for a quote to get your new commercial solar panels in Las Vegas.