Solar energy installations in the United States for homes and businesses have averaged an annual growth rate of 33% in the last 10 years due to all the benefits, tax incentives and grants to help with costs, per the Solar Energy Industries Association (SEIA).
It’s expected that solar usage will continue to grow at this pace for years to come as solar power has established itself as the most cost-effective option for true energy independence for your business.
Peninsula Solar is your premier commercial solar installer in Northern Michigan and the Upper Peninsula. Our commercial solar installations are custom-designed to produce energy that will power your business and save you money.
At Peninsula Solar, we only use the most efficient and dependable solar equipment. In our line of solar installations, we integrate best-in-class components to create top-tier energy production systems that lower electric bills for businesses across the region
Talk to the team today to see how we can help your business gain energy independence and save you money on the growing cost of energy. Either call us at (906)-235-0340 or fill out an online quote request form.
Is Commercial Solar Worth it in Michigan?
Businesses in Upper Michigan pay some of the highest energy rates in the country and these prices will continue to increase. You can offset up to 100% of your energy costs by installing a suitable solar energy system.
Some of the best benefits to installing a solar system for your business are:
- You can save thousands of dollars per year by offsetting your energy costs.
- You can earn a substantial tax credit.
- They require very little maintenance for your business.
- It can improve your business value and public image.
- Solar panels are very durable and can last 25 years or more providing a great return on investment.
If you're ready to save money on your energy bills and remove your dependence on the grid, talk to Peninsula Solar today for a free quote. By installing a solar energy system you can significantly reduce your energy costs and save your business substantial money year after year for decades to come.
Cost to Install a Commercial Solar System
The cost to install a commercial solar system is dependent on how much energy your business needs. Businesses that require more energy to operate will typically require a larger solar energy system.
The customers that have the largest energy consumption are often the ones that benefit the most from solar energy. The team at Peninsula Solar will design an energy efficient system to fit your needs, and with a battery-tied system, you can even keep your business running during a utility power outage.
Besides the size of the system, some other factors that influence system cost are:
- Ease of access to the job site.
- Difficult to access rooftops due to pitch or working height.
- Overly rocky, wet, muddy, or uneven ground surface.
- Distance from the solar array to the point of electrical interconnection.
Taxes & Incentives for a Commercial Solar System
Just like with a residential solar system, There are generous tax incentives and grants to help reduce the overall cost of your commercial solar installation.
Federal Solar Incentives for Commercial Installation
As a business you can file for the Business Energy Investment Tax Credit (ITC). This tax credit allows your business to use 30% of the installed cost of the solar system as a tax credit.
This substantial tax incentive makes a solar installation a financial no-brainer. More and more business owners are realizing that they can’t afford not to have energy independence through solar.
Grants for Commercial Solar Systems
USDA Rural Energy for America Program (REAP) Grants provide guaranteed loan financing and grant funding for agricultural producers and rural small businesses for renewable energy systems.
-
Loan guarantees on loans up to 75% of total installed cost
-
Guaranteed funding up to 75% of total installed cost
-
Combined grant and loan guaranteed funding up to 75% of total installed cost
Financing a Commercial Solar System
If you’re not paying cash for your installation then you’ll be opting for financing.
The two main ways to secure financing for your solar installation is through the Michigan Saves loan program or the USDA Rural Energy for America Program.
Consumers Energy Customers
As a Consumers Energy customer you can receive loans with a 0% APR for 36 months up to $75,000 through Michigan Saves.
DTE Energy Customers
As a DTE Energy customer you can receive loans with 0% APR for 24 months up to $50,000 or 2.99% APR financing for 60 months up to $150,000 through Michigan Saves.
To help in your decision on how to finance you should speak with Peninsula Solar today to have your new solar energy system designed specific to your business’ needs. You can call us at 906-235-0340 or request a quote online to learn more about our products and services.
Get Quoted for a Commercial Solar System
Peninsula Solar has over a decade of experience in designing the best solar systems for commercial and residential installs. All installations are custom-designed for your personal and professional needs.
The experts on our team will step you through everything you need to know about installing solar and will handle everything from calculating your power needs to even handling all the permits for the installation.
We have helped several businesses in Northern Michigan and the Upper Peninsula achieve energy independence and save tons of money on costly energy bills with state-of-the-art solar systems.
Call the Peninsula Solar team at (906)-235-0340 or fill out a quote request form to speak with our team at any time to see how solar energy can help your business and save you money on energy.
