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Top 5 Reasons to Get Solar for Your Business in 2024

 

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SOLAR INCENTIVES FOR YOUR BUSINESS

Businesses can deduct 30% of the cost of their solar energy system from their federal taxes the year the system is operational or up to 20 years into the future. This credit is part of the Inflation Reduction Act and is available through 2032. After that, it is scheduled to decline to 26% in 2033 and then drop to 22.5% for businesses beginning in 2034.

The Inflation Reduction Act (IRA) offers 10% in additional credits to the base Investment Tax Credit (ITC) for specific project qualifications:

These adders can significantly increase the financial incentives for renewable energy projects, enhancing their viability.

Businesses can depreciate the value of their solar installation over time, reducing their taxable income. At the state level, the depreciation is spread over 6 years, while at the federal level, 60% can be depreciated in the first year. Typically, 85% of the full solar system cost can be depreciated over five years.

Bonus Depreciation:

The Modified Accelerated Cost Recovery System:
MACRS) allows solar energy system owners to depreciate their investment over a short period for tax purposes, generally over five years. This accelerated depreciation can significantly reduce the tax burden on businesses by allowing them to recover costs quickly, enhancing the financial attractiveness of investing in solar technology.

Solar Renewable Energy Credits (SRECs) are tradable credits that represent the environmental value of generating one megawatt-hour (MWh) of electricity using solar power. These credits can be sold or traded, helping meet mandatory renewable energy targets, thus incentivizing solar power investment and development.

By combining these incentives, businesses can significantly reduce their initial costs and see a return on investment typically within 4 years.

THE BOTTOM LINE

IT'S NOT "NOW OR NEVER", IT'S "NOW IS BETTER"

Since electric bills have gone up, we’ve seen a lot of disingenuous scare tactics being used to manipulate businesses into going solar.But you deserve to hear the truth from us at Baker Electric: trustworthy and reliable stewards of renewable energy solutions for commercial properties. We can provide you with accurate information, without threats, to help you make the wise choice for your business or organization.

 

The bottom line is: incentives for solar are indeed changing, so if you have ever considered solar for your business it’s not a matter of now or never. It’s “now is better.”By going solar sooner than later, you’ll maximize your potential utility bill savings and reap the benefits of limited-time tax credits.

It’s official: Southern California businesses & organizations are paying more for electricity than anywhere else in the country.

According to the US Bureau of Labor Statistics, San Diego county ratepayers have been paying more cents per kilowatt-hour than every other major city and region in the US since December of last year. Have you felt it yet? The bad news, electricity prices are only going to get worse. Historically, local utility companies rates have steadily risen over the years, meaning that you will be paying more and more as time goes on.

How can you make a meaningful difference to lower your electric bill? The most obvious answer is utilizing solar power. If getting solar has ever been in the conversation for your business or organization, there are two very important changes coming that you must know about before it’s too late.

Baker Has Achieved Great Heights in Renewable Energy

Standing tall for over eight decades, Baker Electric continues to design, build and install innovative commerical solar and utility-scale solar projects throughout Southern California and beyond.With a commitment to our clients and to our core values, we have achieved great heights in Renewable Energy.

Top Solar Contractor Rankings 2023:

#1 National Electrical Subcontractor

#1 California Electrical Subcontractor

#6 California Solar Contractor

#16 National Solar Contractor

"We are championing environmental stewardship and we love what we do."
- Ted Baker, President & CEO

"We help businesses and non-profits increase their bottom line while reducing their carbon footprint."
- Scott Williams Executive Vice President

WITH BAKER ELECTRIC, YOU CAN EXPECT:

Best-in-class Custom Financing Options

Nothing Upfront. Start Saving from Day 1

Potential for $0 Down / 0 Payments Until 2025

60% Federal Year 1 Depreciation through 2024

Free Solar Evaluation ($495 Value)

Unparalleled System Installation, Service & Production

CHANGES IN THE SOLAR INDUSTRY

More About Baker

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BAKER HAS BEEN POWERING CALIFORNIA SINCE

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Cost of Doing Nothing Calculator

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WHAT WE DO

Commercial Solar Energy Storage

Solar Panels For Your Business

RENEWABLE ENERGY SOLUTIONS

STREAMLINED OPERATIONS

Nothing Upfront. Start Saving from Day 1

30% Federal Solar Tax Credit - Secure Safe Harbor

Potential for $0 Down / 0 Payments Until 2025

Best-in-class Custom Financing Options

60% Federal Bonus Depreciation in Year 1

Free Business Solar Evaluation ($495 Value)

ADVANCED THERMOGRAPHY PANEL SCANS

ABOUT US

Leading California with Exceptional Commercial Solar, Renewable and Energy Storage Solutions

Experience and a track record of success is everything. And with an impressive 2 GW of installed solar and a Top Solar Contractor ranking from Solar Power International, Baker is recognized as a world-class provider of renewable energy. Delivering technically advanced Commercial and Utility Scale Solar and Energy Storage solutions to business, non-profits, military, education, utilities, and others, Baker also provides its clients with the benefits of streamlined operations and technically advanced maintenance.

  • KNOWLEDGEABLE

  • EXPERTISE

  • MANPOWER

We Deliver Energy Through People

We provide you with solutions, support and advice so you can complete your project on time.

We stand alone on the cutting edge of renewable energy solutions and we are ready to assist your organization in completing or beginning your essential projects.

We adhere to all the CDC guidelines, and rigorous cleanliness procedures.

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