Buried in the ‘Fiscal Cliff’ legislation that was recently passed is the extension of 50% first year Bonus Depreciation for commercial solar installations. Projects have to be placed into service no later than December 31, 2013 and is eligible for commercial taxable entities (no residential, not-for-profit or government agencies).
We’re witnessing the return of the New Jersey solar business (slow but steady). The anticipation of the utility SREC financing programs (at whatever price level) is bringing back confidence. Equipment prices are now more affordable. The industry has gone back to being mainly serious solar players. ALL GOOD THINGS FOR ALL OF US.
Think about it – you get to depreciate half of the project in the first year then enjoy fully writing it off over the next 5 years. Add the 30% federal investment tax credit and the ability to sell SRECs. Now is the time to start re-thinking solar at your business. We can help.