The Federal Business Energy Investment Tax Credit and Solar Rebates

Solar power pays off. Literally.

Solar Incentives

As trusted solar leaders in North Carolina and South Carolina, we’re current on all of the applicable tax credits and rebates across the Carolinas. We’re proud to help our commercial customers identify all of the available solar energy tax credits, rebates, and other financial incentives associated with commercial solar energy systems.

Tax Credits

For starters, you can also claim a federal business energy tax credit of 30% of qualified expenditures for a commercial solar system. The 30% credit lasts through 12/31/2019, when it steps down to 26% through 12/31/2020, 22% through 12/31/2021, and then 10% thereafter.

Depreciation

Commercial solar energy systems are also eligible for depreciation through the Modified Accelerated Cost Recovery System (MACRS). MACRS depreciation for solar projects is recovered over a 5-year schedule. Eligible solar projects placed in service prior to 1/1/2018 qualify for 50% bonus depreciation. Projects placed in service in 2018 qualify for 40% bonus depreciation, and in 2019 qualify for 30%.

Rebates

Finally: your business could get a rebate just for being a Duke Energy utility customer. North Carolina House Bill 589 sets aside annual limits of 5MW for commercial solar projects and 2.5MW for non-profit projects; qualifying commercial projects are eligible for rebates on up to 100kW of their solar investments. Nonresidential customers could receive as much as $50,000; nonprofit customers could receive up to $75,000.

Does your business qualify? We can help you figure it out if you aren’t sure! Give us a call.