Solar offers great tax savings for businesses.
There is a federal tax credit of 30% for systems under 1 MW. These projects can also qualify for up to three 10% adders.
The tax credit is available for systems over 1 MW, but there are several stipulations to follow.
Businesses can also take advantage of accelerated depreciation. This allows you to take 60% of the cost basis in federal depreciation in year one. The remaining 40% follows the five-year MACRS schedule.
100% of the state depreciation follows the five-year MACRS schedule.