Commercial Financing and rebates

We are a solar energy provider that designs and installs solar panel systems for your home or business. Rated the #1 residential solar company in Minnesota, our goal is to make going solar easy and affordable so you can start saving money on electric costs as soon as possible. From roof and ground mount to canopy and carport solar installations, the solar panel installers at Sun Solar are here to ensure that you end up with a solar energy system that does what you need it to do.

Commercial Financing and rebates – Solar Tax Incentives & RebateCommercial-Financing-and-rebatess

Tax incentives and utility rebates make solar more affordable than ever, allowing you to invest in a solar system with no risk. Be sure to contact your tax professional to check your eligibility for certain tax incentives.

Commercial Financing and Rebates Federal Tax Credit

Homes and businesses going solar may qualify to receive 30% of the full cost of their solar energy system back as a credit against their total tax liability for the year the system was installed. This credit may be used all at once or spread over five years.

The Federal Tax Credit will decrease to 26% in 2020 and 22% in 2021. In 2022, homes going solar will no longer qualify for a Federal Tax Credit and businesses will go to a permanent 10%.

Commercial Financing and Rebates

Receive a cash rebate on your solar system from Set Solar, Xcel Energy These rebates are only offered for a limited time, so reach out to your utility company as soon as possible to reserve your rebate money for going solar.

Equipment Depreciation

Businesses going solar may also depreciate 100% of the their solar energy system and recoup up to 21% of original system price. This money may be recovered in the first year of purchasing the system or spread out over several years.

REAP Grants

Businesses located in rural areas may be eligible for a REAP grant, providing up to 25% of your total cost to go solar along with a loan guarantee.

PACE Loans

With a PACE loan, you can finance the cost of your system for up to 20 years and add your repayment to your yearly property tax. Through this program your business may also be able to pay for energy efficiency and LED lighting with a long-term, fixed-rate loan.

Solar Operating and Maintenance Contracts operations and maintenance plan provides many benefits for both residential and commercial enterprises.

Commercial Lighting Solar LED Lighting

Solar powered LED street lighting systems will provide the needed light without additional trenching or added utility costs. These self contained systems provide the perfect solution to any roadway lighting application.

A solar PV system must be installed before December 31, 2019, to claim a 30% credit. It will decrease to 26% for systems installed in 2020 and to 22% for systems installed in 2021. And the tax credit expires starting in 2022 unless Congress renews it. There is no maximum amount that can be claimed.

Tax Credit Eligibility

To qualify for the solar federal tax credit, you must meet all of the following requirements: — You must own your home (renters are excluded, unfortunately). — Your Federal Tax liability must be sufficient to qualify for the 30% tax credit. — You must own your solar panels.

To claim the ITC you will need to file under IRS Form 5695. You‘ll receive your tax credit the following year when you file your taxes for the year in which you installed your panels. If you don’t qualify for the entire tax credit in the first year you can roll over the amount for up to 5 years.

Commercial Financing and Rebates

Benefits Commercial Financing and Rebates solar

The Solar Investment Tax Credit is a federal income tax credit for residential and commercial solar energy systems in Minnesota and throughout the U.S. You essentially receive a 26% tax rebate on your taxes in the form of a check. If your solar array costs 200,000, you will receive a $52,000 tax credit.

  • You can claim the solar credit for the new equipment being purchased and installed
  • There is no maximum income limit to be eligible for the ITC, but you must make enough income to owe taxes during the year.
  • When you install a solar system, 26% of your total project costs (including equipment, permitting and installation) can be claimed as a credit on your federal tax return.