Cut Costs this Summer with Commercial Solar

With the sunny Michigan summer soon approaching, the care-free and breezy days of outdoor leisure and dining will be making a delighted return, as well. Michigan has long been a state that provides a range of opportunities to enjoy yourself in the great outdoors. When the seasons change, year-long Michiganders love to get out and golf, hike, boat, fish, bike, hit their favorite local ice-cream shop, and much more.

Warmer weather on the horizon means a busier time for many seasonal businesses. All of the businesses that provide these much-needed services are likely now preparing to make hay this summer: hiring more staff, beefing up their marketing campaigns, and anything else they can do to stay competitive in today's ever changing economy.

Two key questions that business owners should be able to answer when preparing for the busier months are:

1. How will I protect my business against inflation?

2.Is my business taking advantage of every opportunity possible?

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Installing a solar-energy system on the rooftop of a commercial business is a classic 'kill two birds with one stone' scenario here. Business owners can take advantage of up to a 50% tax write-off of the total project costs when they go solar, thanks to IRS' form 3468 and bonus depreciation.

What is Bonus Depreciation?

A business can claim tax credits equal to 30% of the total cost on any qualified advanced energy projects. Installing sustainable, renewable energy producing solar panels certainly qualifies a business to claim these credits. Business owners can utilize the Investment Tax Credit, which significantly reduces federal income tax liability and improves the cash flow of a business on a cost-savings basis. Locking in a payment now protects the business against the rising costs of nearly all commodities over time. The graphic below provides an overview on the amount of savings a business would experience when they lock in a flat solar payment.

Not only would installing solar panels save the business money, but it would provide an excellent opportunity for the company to engage in the rapidly growing practice of green marketing. The installation of solar panels on the roof of a business is that business owner's concrete, visible commitment to a more sustainable future of energy production and consumption.

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Thank you for reading the latest installment of Advanced Solar Projects LLC's educational Blog series. We look forward to helping business owners own their power, and make the choice to be a part of the solution and not the problem. Get in touch with Advanced Solar Projects today to start your business's process on the road to clean solar energy.