Top 6 Reasons for Small Business to Go Solar in 2023

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Installing Commercial Solar on your business comes with many tax advantages that can help businesses save money and increase their net operating income. Here are some key benefits and reason to do so in 2023.

1. Investment Tax Credit (ITC): The ITC allows businesses to deduct 30% or more of the cost of their solar installation from their federal taxes. This can result in significant savings for businesses and helps to offset the initial investment.
2. USDA REAP Grant: The REAP Grant was expanded and increased to 50% of total project cost for small businesses in rural communities. Contact Nashville Solar Works to see if your location qualifies.
3. Depreciation: Businesses can also depreciate 80% of their solar installation cost in 2023, reducing their taxable income and resulting in additional savings.
4. Energy Savings: By generating their own electricity, businesses can significantly reduce their energy bills and save money on operating costs. This can result in increased net operating income and a boost to the bottom line.
5. Renewable Energy Credits (RECs): Many states offer RECs to businesses that generate solar energy. These credits can be sold on the open market or used to offset the cost of electricity bills.
6. Positive Public Image: Investing in solar energy also provides a positive public image for businesses, showing that they are committed to sustainability and reducing their environmental impact.

Overall, investing in commercial solar installations provides a wide range of benefits, from tax savings to energy cost reductions to positive public relations. If you’re interested in learning more about how solar energy can benefit your business, contact Nashville Solar Works today.

Hello@nashvillesolarworks.com or 615–241–3022