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Small Businesses Adding Solar Power Development As an Income Stream

September 3, 2014 By Gail Gardner 30 Comments

Utility costs are not going to go down. Solar power is a way to lower and control future costs, lower current taxes, and lock in a future income source likely to be inflation resistant.

Solar power is one of the few improvements a small business can make to both reduce costs and increase income. Both State and Federal programs exist to incentivize solar installations. Small businesses sitting on cash reserves could invest in solar power to control costs and add a new income stream.

Solar Panels

Solar Investment Tax Credit (ITC)

The Solar Investment Tax Credit is a 30% multi-year tax credit for residential or commercial solar installations that meet specifications. Unless extended, this credit is available through December 31, 2016.

These long term tax credits are credited with a 41% increase in solar installations in 2013 over 2012 and the generation of 143,000 American jobs [according to the Solar Energy Industries Association (SEIA)].

Tax credits are also given credit for lowering the price of producing solar energy, making it more affordable:

Average PV System Price
The cost of solar energy declined from $10 PV to $4 PV from 2001 through 2013

Department of Energy (DOE) Loan Guarantee Program

Larger solar projects have been supported by the United States Federal Department of Energy loan guarantee program. The White House Rural Council was created to increase rural opportunities and backed with loan guarantees. Projects supported so far include:

  • California: $1.2 billion to construct California Valley Solar Ranch (CVSR) in rural San Luis Obispo County
  • Hugoton, Kansas: first cellulosic biofuel facilities built in the United States
  • One Nevada Transmission Line bringing wind and solar generated in Wyoming, Nevada and Idaho to California cities

State Solar Tax Credits and Incentives

A new DSIRE database of state incentives for renewables and efficiency is scheduled to be available in December 2014. There is an existing database containing both state and regional solar tax credits and incentives.

The number of credit and financing programs is far more than you would expect. Information in this database is extensive and includes:

  • Green Building Incentives
  • Leasing programs
  • Local rebate programs
  • PACE financing
  • Performance-based incentives
  • Property tax incentives
  • Sales tax incentives
  • State grant programs
  • State loan programs
  • State rebate programs
  • Utility grant programs
  • Utility loan prgorams
  • Utility rebate programs

The DSIRE database also includes rules, regulations and policies including:

  • Appliance / equipment efficiency standards
  • Building energy codes
  • Energy efficiency resources standards
  • Solar / wind access policy
  • Solar / wind contractor licensing
  • Solar / wind permitting standards

This is not all of the data available in the DSIRE database. Communities in Massachusetts have community renewable energy products where local residents and businesses contribute to community solar arrays and benefit from the energy generated. Some have reduced their electric bills to zero by participating.

Small Business Case Studies

This excellent video explains how an established local heating and air conditioning business signed a 15 year lease agreement with their local power company with a 5 year payoff and 10 years guaranteed income. They eliminated their power costs and created a substantial income.

Video Highlights:
  • Creates local jobs
  • 30% federal tax credit
  • 15 year lease buys their power
  • Incentives have improved

Many of the largest solar development companies like Martifer Solar can be called on to provide feasibility studies to maximize feasibility and minimize risk. Their existing connections and expertise can provide the strategic partnerships required to ensure maximum ROI.

Finding a solar development company is a shortcut to identifying existing programs. They should already know all of the incentives available in your area or have the resources and connections to find out.

Small businesses of all sizes could also use the DSIRE database to research the types of programs available to them. Between grants, tax credits, loan guarantees and other incentives you could be losing money by not going solar.

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Gail Gardner

Small Business Marketing Strategist at GrowMap
Gail Gardner is the founder of GrowMap.com. She is a Small Business Marketing Strategist she mentors small businesses, bloggers, and freelancers. After 23 years in the field with IBM and 5.5 years managing AdWords accounts, her focus shifted to small business marketing strategy. GrowMap.com is listed by Cision as a Top 100 Site for Marketers and has received three Small Business Influencer Awards from Small Business Trends. Named by D&B a Top 50 SMB Influencer on Twitter, you can follow Gail @GrowMap and on LinkedIn.
My Twitter profileMy Facebook profileMy Google+ profileMy LinkedIn profileMy Pinterest profileMy Tumblr blogMy YouTube channel

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Filed Under: Small Business Advice Tagged With: small business solar, solar development

Comments

  1. Lex Reyes says

    May 27, 2018 at 7:59 pm

    Panels gives us that assurance of safety and assurance of not having power failure. am i right?
    Lex Reyes would love you to read ..The Different Appliances that Contribute to Your BaseloadMy Profile

    Reply
  2. Muhammad Ali says

    October 20, 2015 at 12:24 pm

    Great information for those who are planing for small business . It’s really a great and helpful piece of information. I’m happy that you simply shared this useful info with us.

    Reply
  3. Rajat Kulshrestha says

    December 31, 2014 at 7:32 am

    Very well written and excellent idea for those who are planning to start their own business on Solar power. Solar power development can be a good income source. I appreciate your writing. Keep it up.
    Rajat Kulshrestha would love you to read ..Happy Valentines Day Messages Ideas For Him SMS 2015 Greetings Wishes Ideas For Him 2015My Profile

    Reply
  4. joe says

    December 24, 2014 at 2:58 pm

    Excellent idea make small business on solar power.
    thanks for sharing such a great information 🙂
    keep the good work

    Reply
  5. michael says

    December 17, 2014 at 4:38 am

    This system of solar plant which is cost effective and also a better use of natural resources. Thank you very much for this informative post.
    michael would love you to read ..{*Best”] Happy New Year 2015 Eve Quotes WishesMy Profile

    Reply
  6. Leena says

    December 14, 2014 at 2:11 pm

    Very nice article ….. Good guide for those who are planing for small business, I think everyone should have to pay attention on you lines.

    Reply
  7. Gianna James says

    October 27, 2014 at 5:20 pm

    Good guide for those who are planing for small business, I think everyone should have to pay attention on you lines.

    Reply
  8. Anika Davis says

    September 25, 2014 at 7:16 am

    True! Whichever industry your business operates in, switching to solar power can deliver real cost savings to your business. Upfront rebates known as Small-scale Technology Certificates (STCs) can reduce the upfront cost of installing solar. In some cases, you may be eligible for other incentives. Solar power is a highly visible means of clearly showing to your customers, your strong commitment to the environment.

    Reply
  9. Chris flynn says

    September 24, 2014 at 1:52 pm

    Really awesome article for small business lovers. i had learn many things from above text

    Reply
  10. Dekh zara says

    September 18, 2014 at 9:21 pm

    thanks for sharing helpful content with us. keep update informatic content like this . nice sharing.
    Dekh zara would love you to read ..Kid is too much braveMy Profile

    Reply
  11. ruby walters says

    September 17, 2014 at 1:34 pm

    This is a great post ! is great idea to booth save money and energy
    ruby walters would love you to read ..Breast Actives Review – Is the Product Really That Good?My Profile

    Reply
  12. Fred Lane says

    September 16, 2014 at 10:47 am

    A great way to save the environment and save money! Great post!

    Reply
  13. amir says

    September 14, 2014 at 6:28 pm

    this is really nice cool article for me thanx

    Reply
  14. Aaron Diaz says

    September 13, 2014 at 10:40 am

    Great article and very helpful for everyone and I like your post thanks for share with us.

    Reply
  15. Geet says

    September 12, 2014 at 4:47 am

    . It’s looking nice one because when you would like to get something then you would need to do something extra ordinary and this is the right time to do that. Beside that there are good options to get loan as well which will be help for you in many matters. Once you will setup this all then it would give income for whole life.

    Reply
  16. ZULFIKAR AHMAD says

    September 11, 2014 at 10:34 am

    It is a best way to improve my business with our leader.thanks

    Reply
  17. akshay says

    September 10, 2014 at 6:28 pm

    yes aggred that to focus and put leg on fire for this things

    Reply
  18. bheem says

    September 9, 2014 at 9:57 am

    it’s a big thing of save energy. because all energy product have a limit. and at a time we want to generate new thing for power. so solar energy is good source for it. and it’s a unlimited source for energy. And most of countary goverment also give loan for it. So it’s good source also saving money.Thanks for sharing this informative article.
    bheem would love you to read ..10 things man always expect from woman in a relationshipMy Profile

    Reply
  19. Umair Aspira says

    September 9, 2014 at 11:05 am

    This technology very expansive in our country but a good concept i will buy when the price will be down. hope you will share more tips.
    thanks
    Umiar Aspira

    Reply
  20. Chris Goldberg says

    September 8, 2014 at 11:19 am

    Solar is expensive at first because of the materials but I think in the long term process you will gain profit especially when some power generators came up with power shortage.
    Chris Goldberg would love you to read ..Why You Should Forget Everything You Learned About Earning Money With No InvestmentMy Profile

    Reply
    • Gail Gardner says

      September 8, 2014 at 5:14 pm

      Hi Chris,

      I included that one graph to show that the cost for solar materials is coming down. The more it is used, the less expensive it will be. As the cost of traditional utilities goes up, the value of solar becomes higher.

      Reply
  21. Tuhin Parvez says

    September 8, 2014 at 2:39 am

    What a post :O
    In this post, we can easily start a small business like these.
    And the solar power business is just awesome I think.
    But it’s not appropriate for every country I think.

    Overall It’s a great idea to start a new business.

    Reply
  22. zeza says

    September 5, 2014 at 2:02 pm

    Solar is where new business will end up. With high cost of living no wonder why everyone will end up with solar.

    Reply
  23. rocky kumar says

    September 5, 2014 at 5:46 am

    I think a lot of business owners would be benefit from your idea. It is very important blog for business purpose.

    Reply
    • Gail Gardner says

      September 7, 2014 at 9:46 pm

      Thank you, Rocky. Business owners need to get serious about growing their customer bases and I have much content showing them free and expensive methods to do so.

      Reply
  24. olga says

    September 4, 2014 at 4:14 pm

    c’est un bon article pour le buisines.
    c’est un bon article .
    merci pour le partage .
    olga would love you to read ..hamamet tacos My Profile

    Reply
  25. Phil Dougland says

    September 4, 2014 at 1:00 pm

    It’s a great idea to add renewable sources of energy, but I’ve read that since you’d need generally sunny days to provide energy you’d be in a constant flux between solar power and using the power grid. Hopefully the technology will be improved in the coming years.

    Reply
    • Gail Gardner says

      September 4, 2014 at 11:23 pm

      Hi Phil,

      Many of the lease contracts allow you to sell energy on sunny days and use it from the grid when necessary. Otherwise, a more complex solar system that includes batteries to store the energy for later use is required.
      Gail Gardner would love you to read ..How to Get Recommended: Recommendations ARE WHAT WORKS to Grow Your Small Business or BlogMy Profile

      Reply
  26. Meghan says

    September 4, 2014 at 7:55 am

    it is a great improvement for small businesses in terms of reducing the cost and increasing the income.

    Reply
  27. vella di says

    September 4, 2014 at 10:04 am

    Thanks for sharing informative article. These things really helpful for online readers. Solar Power Development is the great income source for small business.
    Thanks for sharing valuable post with us. I appreciate your efforts.
    vella di would love you to read ..Top 10 Kesha Songs 2014 List Upcoming New Album 2015My Profile

    Reply

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