Business
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For commercial and business entities, there hasn’t been a better time to invest in a renewable, on-site energy source. AllSun Tracker installations make your business eligible to participate in federal and state renewable energy tax credits and incentive programs, as well level your electricity costs over the long term.*
Advantages to buying
The benefits of purchasing an AllSun Tracker for your business include:
- 30% federal investment tax credit – offset taxes owed by your business
- 30% State of Vermont tax credit – only available on trackers installed in Vermont by Vermont businesses
- Five-year Modified Accelerated Cost-Recovery System (MACRS) depreciation – usually allows the business to expense 50% of the value of the tracker in the first year
Businesses are eligible for a federal tax credit of 30% of the cost of a tracker. There is no cap on the credit amount and the tax credit can be used to offset the Alternative Minimum Tax (AMT) if applicable. This credit can be carried back one year and carried forward 20 years.
Vermont corporations are eligible to receive a state tax credit equal to the federal tax credit on solar installations within the state. This means corporations with a tax liability in Vermont will see an additional 30% tax credit from the state on top of the federal tax credit. Note that, as an alternative, your company can opt to receive the Small Scale Renewable Energy Incentive, but not both. AllEarth Renewables recommends that you complete your own analysis to determine the most appropriate alternative. (Visit www.rerc-vt.org)
For Vermont businesses with the ability to use the state business solar tax credit, purchasing AllSun Trackers can lower your cost of power to approximately $0.05/kWh and provide you with clean, renewable energy at the same time. (See www.dsireusa.org)
Your company is also eligible to depreciate your solar assets on a five-year schedule with up to 50% of the value of the asset allowed in the first year (subject to when the tracker is placed in service) under MACRS. (Learn more at www.irs.gov)
*This tax information should only be used as a guide as AllEarth Renewables cannot provide tax advice. Please consult a tax professional to learn how any tax incentives would affect you.