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Enjoy the Benefits
What Are the Benefits of Green Energy?
We’re glad you asked! There are many exciting benefits of green energy technologies. Here are just a few.
Increased energy security.
Boost energy independence and stability.
Safeguard against energy price fluctuations.
Protection against demand charges and “time of use” rates.
Cost savings on electricity bills over the long term.
Potential financial incentives, such as tax credits and rebates.
Positive environmental impact by reducing greenhouse gas emissions.
Learn more about how you can cut utility costs, obtain energy security, and reduce your carbon footprint with these amazing green energy technologies.
Financial Incentives
COST SAVINGS
In 2022, the Inflation Reduction Act (IRA) increased the tax credit for Green Energy Systems back up to 30% and granted a time extension of ten years. Battery storage systems are also eligible for this tax credit.
Check out our video where we explain the tax credit from and note that it’s now even more desirable!
Green Energy Systems: Investment Tax Credit Extension
| 2021 | 2022 | 2023 | 2024 | |
Residential | 26% | 30% | 30% | 30% |
| Commercial | 26% | 30% | 30% | 30% |
GREEN ENERGY GRANTS
The U.S. Department of Agriculture (USDA) offers The Rural Energy for America Program (REAP). The program offers financial assistance to agricultural producers and rural small businesses to purchase and install Green Energy Systems.
Immediate and Long-term Cost Savings Available
Grants cover up to 50% of the overall project’s cost. Combined with loans, a Green Energy Systems investor could fund up to 75% of their total project cost through the program. Add the 30% tax credit, and the financial aspect of your company’s or farm’s installation will immediately become even more tempting!
(Note that the IRA will also have provisions that could impact the details of the REAP grant. We will post more details here when they are clearly defined later in 2023.)
LEARN MORE about the USDA Grant.
MACRS DEPRECIATION OF PV SYSTEMS
The Modified Accelerated Cost Recovery System (MACRS) is the United States’ tax depreciation system. This tax deduction allows for businesses that install Green Energy Systems to shorten the amount of time it takes to pay off their system’s equipment. Most businesses can use this tax deduction for a five-year period.
In addition, the federal government offers a bonus depreciation system that allows for faster depreciation and encourages Green Energy Systems PV investment.
LEARN MORE about the MACRS and the bonus MACRS.
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