Is it Time for Your Business to Go Solar?
As Massachusetts towns on Cape Cod and throughout the greater Boston area settle into the new year, many business owners are setting intentions to enjoy new efficiencies and achieve their business goals. Have you found yourself wondering if solar power could help your business? Or decided that investing in a solar panel installation is one of your new year's resolutions? You’re in the right place.
Perhaps you’ve previously considered going solar, researching solar providers near you, how much solar panels save, or even the benefits of the MA SMART solar incentive program. If so, you likely know the many advantages of going solar for your business. 2022 is already primed to be an excellent year to go solar—take advantage of the benefits for your business!
Read on to learn more about how My Generation Energy, a commercial solar company, can help your Massachusetts business with a solar upgrade.
Why Is 2022 the Year to Embrace Solar for Your Business?
2022 is the year to go solar for your business, and we don’t just say that as a commercial solar panel installer. My Generation Energy firmly believes in the many benefits of solar. Here are three of the top benefits of solar for your business:
Lock in Energy Costs Now - Reduce Operating Expenses For the Future
According to ABC News, utility bills could inflate as much as 30% over the course of this winter, with no end in sight to the elevated rates. Solar energy is not only renewable and reliable, it’s also completely free when you generate your own power!
By upgrading your business with a solar system, you can lock in your energy bills for the next 20 to 30 years. In doing so, you’ll save thousands over the life of your system and avoid rising energy costs like we’re already seeing this winter.
Curious how much solar panels save on operating electricity bills? The My Generation Energy team can answer all your questions about solar energy. Feel free to get started with our going solar FAQs page.
Capitalize on Time-sensitive Federal Incentives
There are a number of incentives for businesses who are considering solar power, but one of the most exciting is the federal solar Investment Tax Credit. This tax incentive gives businesses who invest in commercial solar installations the opportunity to reduce their federal tax liability by 26% of the cost of their solar installation.
Why is this especially significant for 2022? Since the federal solar tax credit is scheduled to decrease after this year, it is the highest amount that business owners can ever expect to receive in credits from their commercial solar PV system, unless the ITC is extended with the Build Back Better legislation. Under the current schedule, in 2023, the incentive will be reduced to 22%. In 2024, the program will be cut by over half to a mere 10% for commercial solar systems, so you can understand why we encourage business owners to make 2022 their year to go solar as well as contact your legislators to support the Build Back Better plan for commercial solar incentives going forward!
In addition to the solar ITC, there is another substantial benefit to commercial solar with the Modified Accelerated Cost-Recovery System (MACRS). Under MACRS, business owners could benefit from a 100% first-year bonus depreciation. This accelerated depreciation can help offset the tax liability for your company. (With all tax related policies, please consult with your tax advisor).
Benefit Your Community and Attract Top Talent
Are you aware that 40% of respondents to a recent Fast Company survey indicated that company sustainability efforts were deciding factors in their choice of employer? Or that 70% of respondents in the same survey said they were more likely to choose a job at a company with a strong environmental agenda than one without.
Not only can you do good by lessening your environmental impact in making the switch to solar and working towards achieving a carbon neutral goal, but you’ll also likely enjoy the added bonus of attracting top talent and promoting your business as ‘Green’ business, no matter what field you’re in.
My Generation Energy Knows Solar in MA!
With over a decade of experience in solar on Cape Cod, the My Generation Energy team knows how best to support local businesses that are navigating the transition to commercial solar.
Our expert technicians know these systems from the inside out, so whether you’re a beginner who’s curious to learn more about solar incentives (including the Massachusetts SMART program), a solar system owner looking for maintenance support, or anyone curious about exciting battery storage options, the My Generation Energy team is here for you.
Look no further for a commercial solar company near you. Get started with My Generation Energy today by calling 508-694-6884, or contact us online!