“IF IT wasn’t for the cost, I would love to install a solar energy system on my property or at my business.”
Many grants, incentives, tax credits and rebates make green power more affordable than you might think.
Having financial stability with respect to your utility cost is a must for most businesses and households. Not only can you own your personal power-producing energy plant for your business or home, but you can also hedge your energy costs. In the short term, you will know exactly what you will be paying until the system is paid off. Once you pay off that initial cost, the dollars you would have paid to the utility company can be added back to your bottom line – where your money matters most.
Let’s take a look at some incentives available to businesses that want to install solar energy:
Having financial stability with respect to your utility cost is a must for most businesses and households. Not only can you own your personal power-producing energy plant for your business or home, but you can also hedge your energy costs. In the short term, you will know exactly what you will be paying until the system is paid off. Once you pay off that initial cost, the dollars you would have paid to the utility company can be added back to your bottom line – where your money matters most.
Let’s take a look at some incentives available to businesses that want to install solar energy:
There is a federal tax credit available for residential energy property. Initially established by the Energy Policy Act of 2005, the tax credits were extended to other sources of energy property by the Energy Improvement and Extension Act of 2008. Other key revisions included an eight-year extension of the credit to Dec. 31, 2016. A taxpayer may claim a credit of 30 percent of qualified expenditures for a system that serves a dwelling unit located in the United States/Guam that is owned and used as a residence by the taxpayer.
The programs mentioned can assist in making solar energy a more attractive investment for you or your business. These are just some of the benefits of reducing monthly expenses through short-term hedging your costs for energy and providing you with energy security for years to come.
In most businesses, the payback period is usually 3.7 to 4.2 years. It is very impressive resulting in you having your own power plant that produces clean, efficient, reliable and affordable renewable energy for the next 30 years.
In residential dwellings, the paybacks are usually 4.5 to 5.5 years. Still very impressive with the realization that most families in Guam stay in their houses or keep the houses in the family for future generations. Solar energy makes sense now more than ever, and with the economies of scale and superior advancement of this technology in the last five years, owning your own system is a reality for everyone.
The programs mentioned can assist in making solar energy a more attractive investment for you or your business. These are just some of the benefits of reducing monthly expenses through short-term hedging your costs for energy and providing you with energy security for years to come.
In most businesses, the payback period is usually 3.7 to 4.2 years. It is very impressive resulting in you having your own power plant that produces clean, efficient, reliable and affordable renewable energy for the next 30 years.
In residential dwellings, the paybacks are usually 4.5 to 5.5 years. Still very impressive with the realization that most families in Guam stay in their houses or keep the houses in the family for future generations. Solar energy makes sense now more than ever, and with the economies of scale and superior advancement of this technology in the last five years, owning your own system is a reality for everyone.
Tracy Voacolo is the president of Micronesia Renewable Energy. She has more than 20 years of experience in the renewable energy industry. Tracy can be contacted at info[at]micronesiarenewableenergy.com
For more information about Micronesia Renewable Energy, visit http://micronesiarenewableenergy.com/.