As a business or property owner in Minnesota, you’re always looking for ways to reduce operating costs, increase property value, and demonstrate a commitment to sustainability. Commercial solar energy offers a unique opportunity to achieve all these goals and more. Here’s why investing in commercial solar is a smart decision for businesses and property owners in Minnesota.
One of the most significant advantages of commercial solar is the reduction in energy costs. Solar panels generate free electricity from the sun, significantly lowering your utility bills. With Minnesota’s rising energy costs, this can lead to substantial savings over the life of your solar system.
Minnesota offers a range of incentives and rebates for commercial solar installations, including the federal Solar Investment Tax Credit (ITC), accelerated depreciation through MACRS, and state-specific programs like the Minnesota Solar Incentive Program (SIP) and Xcel Energy’s Solar*Rewards for Business. These incentives can dramatically reduce the upfront costs and improve the return on investment.
Installing solar panels can increase the value of your commercial property. Properties with solar energy systems are seen as more attractive to buyers and tenants due to the long-term energy cost savings and sustainability benefits.
Federal Solar Investment Tax Credit (ITC)
Business owners in Minnesota can take advantage of the federal Solar Investment Tax Credit (ITC), which allows for a 30% tax credit on the cost of installing a solar energy system. This substantial tax benefit can significantly reduce the upfront investment in solar energy.
Accelerated Depreciation (Modified Accelerated Cost Recovery System – MACRS)
The MACRS allows businesses to recover investments in solar energy systems through accelerated depreciation deductions. This incentive allows businesses to depreciate the value of their solar energy equipment over a five-year period, providing significant tax savings.
Minnesota Solar Incentive Program (SIP)
The Minnesota Solar Incentive Program (SIP) provides performance-based incentives for commercial solar installations. Business owners receive payments based on the amount of electricity their solar PV system generates, spread over the first ten years of operation.
Xcel Energy Solar*Rewards for Business
Xcel Energy’s Solar*Rewards for Business program offers financial incentives for commercial customers who install solar PV systems. This includes performance-based incentives paid annually over ten years based on the system’s energy production.
Property Tax Exemption
In Minnesota, commercial solar energy systems are exempt from property tax assessments. This means that the added value from the installation of a solar energy system will not increase the property taxes for businesses, providing a financial advantage.
Sales Tax Exemption
Solar energy systems purchased in Minnesota are exempt from state sales tax, which reduces the overall cost of commercial solar installations. This exemption helps make solar investments more affordable for businesses and property owners.
Net Metering
Minnesota’s net metering policy allows commercial solar system owners to receive credits on their utility bills for excess electricity generated and fed back into the grid. This ensures that businesses get full retail value for the surplus energy their solar systems produce, optimizing financial returns.
Commercial Property Assessed Clean Energy (C-PACE)
The C-PACE program in Minnesota provides financing for energy efficiency and renewable energy projects, including solar installations, through a special assessment on the property. This financing structure allows business owners to fund solar projects with little or no upfront cost and repay the investment over time through property tax assessments.
Since 2010, we’ve been a proud part of the Minnesota community, with a deep understanding of the unique requirements and preferences of local homeowners. Our longstanding presence in the area means we are well-acquainted with Minnesota’s climate and energy needs, allowing us to deliver solutions that are perfectly tailored to our customers.
We pride ourselves on offering more than just solar panel installations. We provide a complete, customized energy solution designed specifically for your home. Our vertically integrated services cover everything from sales and design to engineering, installation, and service, ensuring a seamless and personalized experience from start to finish.
Our customer-centric philosophy sets us apart from high-pressure sales pitches. We are your trusted advisor, guiding you through each step of your solar journey. This consultative approach gives you the best possible advice and solutions tailored to your specific needs, with no pressure.
One of our hallmarks is our commitment to supporting our customers for the lifetime of their solar system. Our dedicated team installs, services, and stands behind all our systems, providing relentless support and peace of mind. Our drive to solve customer issues is relentless, ensuring you always have the support you need.
Choosing TruNorth Solar is a a smart investment in your home and the environment. Our solar energy solutions reduce monthly electric bills, lower carbon emissions, and give you greater energy independence.
Our team at TruNorth Solar is passionate about renewable energy and committed to providing exceptional customer service. We treat our customers the way we wish to be treated, ensuring a positive and personalized experience throughout your solar journey. Serving, engaging, connecting, and WOW’ing our Minnesota customers since 2010 is a testament to our dedication.
A new Home Energy System including solar panels and a smart home battery is a smart investment. Many people finance it with a low cost loan and many pay cash. TruNorth has multiple options we can customize to make your solar journey easy and rewarding.
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