Washington Commercial Solar Incentives Only

With today’s Washington commercial solar incentives, a business can cover up to 80% of the upfront costs associated with a brand new solar panel system. By combining free, renewable power with the new Washington state solar production incentive and healthy tax credits business are choosing solar energy to realize short and long-term benefits for all sizes of businesses.

 

 

MACRS Accelerated Depreciation for Solar

Commercial Only

Depreciation is the loss of value that occurs over time with the item your business purchased for a specific use. As a business owner, you are eligible to deduct this “loss in value” from your taxable income when used for your business. 85% of total solar installation costs are eligible for depreciation. This can add a tremendous amount of financial value to your system. Our example tables below use a project cost of $100,000.

 
MACRS Accelerated Depreciation 5 Year Table

MACRS Accelerated Depreciation 5 Year Table

 

50% Bonus Depreciation is available

In the first year claiming the 50% Bonus Depreciation, the basis is reduced by half or 50% from $85,000 to $42,500 before applying the normal MACRS depreciation rate. In Year One, you will gain an addition $8,500 in depreciation ($42,500 x 20% = $8,500). After year one, you will continue to apply MACRS rates to the remaining half of the basis ($42,500 x 32% =$136,000 and so on…)

 
MACRS 50% Bonus Depreciation 5 Year Table

MACRS 50% Bonus Depreciation 5 Year Table

 
 

Rural Energy for America Program (REAP)

Rural Agricultural Only

The United States Department of Agriculture (USDA) provides grant funding to agriculture producers and rural small businesses for solar electric systems. The popular Rural Energy for America Program solar grant, or better known as USDA REAP Grant cover 25% of the total cost of going solar with grants from the United States Department of Agriculture.

Agricultural producers and rural small businesses are eligible to receive up to $20,000 in grant money through their Rural Energy for America Power Program (REAP).

Who is Eligible for the usda reap grant?

  • Agricultural producers with at least 50% of gross income coming from agricultural operations

  • Businesses in eligible rural areas

  • Agriculture producers may be in rural or non-rural areas

Keep in mind, that “small” is defined by the SBA depending on your NAICS code, and can appear quite “large.” We can help you determine if you fit this category or not.

We offer free grant writing

At Sunbridge, we in-house writing the grant to ensure you have the best possible opportunity to be awarded. This cost nothing to you. We work diligently to secure business grant funding for many projects in a competitive system.

You may also decide to write the grant yourself. Some larger organizations have their own teams of grant writers and prefer that. We will still assist when called upon to provide consultation.