A-R-Solar - Solar Incentives & Financing Services for Commercial Projects
There are several federal and local programs that help businesses, rental properties, and other commercial organizations purchase and install solar energy systems including: low-interest loans, accelerated depreciation frameworks, grants for nonprofits and small businesses, and special incentives to encourage companies to go solar. Learn more about national and local programs, grants and commercial financing below.
Call us at (206) 707-9937 or (503) 420-8680 and we’ll be happy to explain the programs available to you over the phone. Find out how painless going solar this year can be!
A&R Solar partners with several local financial institutions that offer low-interest loans for residential solar installations. These are generally zero-down loans with no fees, and the only collateral on the loan is the solar equipment.
Congress has extended and restored the federal solar tax credit to its full, original rate. This means that homeowners and businesses who install solar and/or battery backup systems between 2022-2032 will receive a 30% tax credit. A tax credit is a dollar-for-dollar credit on the income tax you owe. Businesses can receive an additional 10% tax credit if they use American-made products and materials, and battery storage systems no longer need to be paired with solar to qualify for the credit.
MACRS is an accelerated tax depreciation schedule in the United States. Under this system, the capitalized cost (basis) of tangible property is recovered over a specified lifetime by annual deductions for depreciation.
Qualifying solar energy equipment is eligible for a cost recovery period of five years. This incentive is typically only available for businesses and rental properties.
The 100% Clean Energy Act passed in 2019 by the Washington State Legislature provides sales tax relief for commercial-scale solar energy systems, reducing your upfront costs. Call us at (206) 707-9937 for more details.
The Energy Trust of Oregon offers incentives for commercial solar projects installed by solar trade ally contractors like A&R Solar, depending on size. If you are a Pacific Power or PGE customer, call us at (503) 420-8680 to see if your project will qualify.
Government and foundation grants may be available to help your organization pay for up to 100 percent of the cost of a new solar energy system. A&R Solar has installed systems for nonprofits, local schools, colleges, and public buildings in Washington and Oregon. Many of these organizations have used grant dollars to help pay for their system, and they are now receiving the benefits of a reduced energy bill.
Our solar team stays up to date with local and federal grant programs that provide solar for community organizations like schools, churches, libraries, and some small businesses. We can help:
- Locate grants that will help pay for the cost of going solar
- Assist with grant writing and technical information for applications
- Track grant application process and an updated timeline to installation
Securing financing for commercial projects generally requires technical information about the solar project submitted with a loan application. As such, it’s best to work through a loan application with a solar contractor.
Solar energy is a stable asset that more and more banks recognize as safe collateral. Your project might be best suited for a long-term lease, a power purchase agreement, or a traditional term loan. Our commercial projects team can help you determine the best option for financing your solar project.
In addition to accessing financing from private banks, credit unions or alternate lenders, several federal and state programs exist to help companies finance solar energy projects with low-interest loans where the only collateral required for the loan is the solar equipment.
Our commercial projects team maintains a list of recommended financing options for solar in your state, which might include a loan application process that we are happy to help you with.
Call us at (206) 707-9937 or (503) 420-8680 and we’ll be happy to explain these programs to you over the phone.