Commercial solar is unique to each business and requires more in depth assessment and engineering reviews. The two main types are rooftop solar and solar carports.
Solar carports are the perfect thing if you're looking to give customers and employees a protected, shaded car. All portions of the carport, including frame, supports, and foundation, qualify for the tax credit, and they are a great place to install EV chargers.
Solar energy is taking over the commercial landscape with streamlined, non-roof penetrating installation methods and economies of scales. Make use of that empty space on your rooftop with a solar panel system that last 25+ years.
The largest incentives available for solar energy (and storage) is the 26% Investment Tax Credit (ITC) and the Modified Accelerated Cost Recovery System (MACRS). The MACRS generally amounts to an equivalent 18% off the system cost by providing accelerated, 5 year depreciation on top of the federal tax credit.
Another large incentive is the REAP Grant (Rural Energy for America Program) for rural businesses (anywhere with pop. less than 50,000) or businesses with >50% income from agriculture. It provides a 25% grant or 75% loan for all costs related to solar, storage, or other renewable tech. Buildings may also qualify for Opportunity Zone investments, New Market Tax Credits, Low Income Housing Tax Credits, among others.
With the right situations, building owners can see return on investments in under 5 years, and doubling their initial investment in under 20; well before the useful life of the system is over.
Zero down, 25+ year financing is available for commercial solar, business EV charging, storage, or other energy conservation measures in Oklahoma, giving businesses a plethora of energy saving technologies under one roof at no upfront cost. The beauty with these types of loans is that energy savings from these technologies can outweighs loan payments, bringing a new form of cash flow and increased property value to building owners.