Commercial Install Rebates & Incentives
At both the state and federal levels, there are many renewable energy rebates, incentives, and energy credits available for businesses that install a solar array. These programs can reduce the cost of installing a solar array by tens of thousands of dollars, making an investment in solar more affordable and attractive to business owners and managers.
SunRay Solar will help you design a system that fits your needs. Then, we will review all the potential rebate, incentive, and credit programs with you and conduct a financial model of your system, so that you can see the benefit.
SOLAR INVESTMENT TAX CREDIT
A Solar Investment Tax Credit, which allows businesses to recover up to 30% of the purchase price of a commercial solar array as a tax credit against their existing federal income tax liability.
RENEWABLE ENERGY CERTIFICATE
Renewable Energy Certificate (REC) payments under New Hampshire’s renewable portfolio standards, which are quarterly payments made to the owners of solar energy systems based on the amount of renewable energy generated.
MODIFIED ACCELERATED COST RECOVERY
The Modified Accelerated Cost Recovery System (MARCS), which allows businesses to claim deductions through a 5-year accelerated depreciation schedule for their solar array.
NH STATE REBATE
A New Hampshire state rebate of $0.65 per watt of newly installed solar energy facilities, for all commercial solar arrays less than or equal to 100 kW in size.
For agricultural production companies or businesses in rural areas, there are Rural Energy for America Program (REAP) grants and loan financing administered by the USDA. These grants can cover up to 25% of total eligible project costs, with a $2,500 minimum and a maximum of $500,000. The goal of these competitive grants is to help rural small businesses and agriculture companies install renewable energy systems.