Solar Investment Tax Credit
The Solar Investment Tax Credit helps businesses make commercial grade solar and other renewable technologies more affordable.
The current 26% rate is scheduled to decline slowly over the next 2 years and settling at almost one-third the existing rate in 2024.
Solar Investment Tax Credit (ITC) Highlights:
- 2021 ITC rate is 26%
- This is a “dollar for dollar” savings
- 2023 steps down to 22%
- 2024 steps down to 10%
In order to qualify in time for the 26% ITC your business must complete at minimum one of the following by December 31, 2022:
- Significant physical work (contact Revel for more information)
- Incurring costs of at least 5% of the cost of project (deposits may qualify, contact Revel for more information)
Commercial grade solar is an integral technology for California businesses to cut electricity costs. Without incentives like the Solar Investment Tax Credit (ITC), business owners find it hard to justify the high upfront cost for future savings. It should be noted that other incentives like accelerated depreciation have a shelf life and interested parties should contact a Revel Energy professional to learn more.
The benefits of the Solar Investment Tax Credit.
Revel Energy and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisers before engaging in any transaction.
COMMERCIAL SOLAR CASE STUDY
Hokto Kinoko, a grower and producer of mushroom superfoods in California, utilizes a Revel Energy commercial solar installation to reduce energy costs by approximately 60%.
The San Marcos facility will save not only on the avoided electricity costs, but save on future rising electricity costs using energy storage and net energy metering to offset daily use.
One of many California businesses lowering energy costs and raising net income through commercial solar solutions.
Commercial grade rooftop solar is ideal for: manufacturing, warehousing, logistics, industrial, retail, hospitality buildings and more with over 10,000 sq. ft. rooftops.
Free standing carport solar generates added solar power for properties with limited rooftop space. Added benefits include shading and protection for employees vehicles.
Crucial for reducing peak demand charges. Automated to supply electricity when your panels won’t. Energy storage is ideal for businesses that incur significant peak hour charges
LED LIGHTING RETROFIT
Generating independent solar power is one piece of the puzzle. Energy saving equipment like highly efficient LED Lighting completes the system. Significantly reduce energy usage.
About Revel Energy
Revel is on a mission. Dedicated to renewable energy solutions since 2009, Revel Energy was formed to provide Commercial, Industrial and Agricultural businesses with alternative energy beyond solar. Revel stands out from the competition by paying attention to what makes good business sense to each individual client, implementing a wider range of technologies to free up capital and make businesses sustainable and more profitable.
Client Testimonial: Kelemen Company
Corporate Business Park in Irvine, CA has created significant electricity cost savings through commercial solar installed across the 5-building business park.
Client Testimonial: Tice Gardner & Fujimoto LLP
See how this CPA firm saved on electricity and gained valuable tax credits through commercial solar that they used to keep cash in the businesses.