Solar Is A Perfect Match For Farms, Vineyards, & Orchards
Agricultural solar energy is an investment that can deliver a significant return to Oregon and Washington farmers. Especially for agricultural producers and other small, rural businesses located in these states. Wondering if you can afford a solar panel installation for your farm? With today's solar incentives for farms, you can get up to 85% of your cost recovered through cash incentives, tax breaks, and energy savings.
A selection of solar incentives in both Oregon and Washington State makes this possible:
US Dept. Of Agricultural Solar Grant
Officially called the Rural Energy for America Program (REAP) Grant, this grant cover 25% of the total cost of a solar installation is available through the USDA. At Sunbridge, we in-house 100% of the grant writing at no extra cost to you so you can keep focused on your business.
Energy Trust of Oregon Cash-Incentive
If you are a Portland General Electric or Pacific Power customer, your business is eligible to receive a cash rebate from the Energy Trust of Oregon. This cash rebate goes to your business and drops your cost of switching to solar.
How much you will receive can vary a bit depending on which company services your home. Current incentive levels are below.
Energy Trust cash rebates can decrease without warning. This is because each incentive level is only allocated a certain amount of funding. When “step-funding” becomes used up, the incentive rates drop to a new level. As a result, be cautious about waiting too long before reaching out to us for an official quote.
Qualifications to Receive ETO Cash-Incentive
The solar installer must be a certified Solar Trade Ally by the Energy Trust of Oregon.All solar equipment must be new and UL listed.Verification from Energy Trust tax technicians.
Receive A 30% Federal Solar Tax Credit
The federal government offers a tax credit of 30% of a total solar installations’ cost, including labor and equipment. This incentive is only available for solar energy investments made before 2019.
There is no cap for this credit and it can be applied directly to your business’ federal taxes. If you can’t use the entire credit in one year you can spread it out for up to twenty years. Financing is available for solar at under 5%.
MACRS, 5-Year Accelerated Depreciation
MACRS Depreciation is an economic tool for businesses to recover certain capital costs over the solar energy equipment’s lifetime. Businesses can depreciate 85% of the total system cost on the 5 years accelerated scale. This can add a tremendous amount of financial value to your business operations.
As a business owner, you are eligible to deduct this “loss in value” from your taxable income when used for your business. If you are running a profitable business, and you can show that the solar power you are generating is for business use (as opposed to personal use), then it may have a strong impact on reducing your bottom line.
Are You Interested in How These Incentives Work Together?
When you sign up for a free solar evaluation we will design a custom solar electric system to the specifications you want and need.
Our evaluation will provide you with an estimate, total cost, environmental benefits, and more. You may also skip the sign up form and speak with a solar consultant today bu calling us at (360) 313-7190.