What incentives and rebates are available from the state or government?
Business owners can receive a 30% federal tax credit. Additionally, there is no cap on the tax credit, and solar government credits and rebates can be depreciated over 5 years (accelerated depreciation).
Other local incentives are available depending on your specific address. For example, the State of South Carolina offers a 25% state tax credit, so the combination of federal & state tax credits can offset more than 50% of your solar cost!
Additionally, in the upstate area of South Carolina, Duke Energy offers significant rebates on high-efficiency lighting and HVAC equipment under their Smart $aver Business Incentive Program. (As a Duke Energy Smart $aver Program ally, we can even process those rebates for you!)
Our energy specialists will share applicable incentives with you and walk you through the application process.
Are there any financing options for solar energy systems?
Absolutely. We have close relationships with local banks and lending companies that offer very attractive loans for solar energy systems including thermal water heaters, HVAC, lighting, and our other green energy products.
We will discuss all available financing options with you before your purchase, and we will work with you to find your best financial solution. In general, the payment amount is at or below what you would normally pay for the electricity. This allows you to lock in today’s energy rates for the future. As the price of electricity rises, your payments will stay the same. At the end of your loan, all further production will be free.
Do you offer any special financing plans in which I could immediately save energy dollars each month while not having to make an upfront, out-of-pocket investment? In other words, could my energy savings more than offset the monthly cost of a no-down-payment loan?
With our $0 DOWN, INTEREST PAYMENTS ONLY IN THE 1ST YEAR OPTION arranged through Elements Capital Group via Capital Community Bank, you pay nothing down and only make interest payments during the first year; all while our LED lighting and solar energy products drastically cut your utility bills. After the first year, you can use current federal and state tax credits and utility company rebates to offset as much as 75% of the loan principal. Your monthly energy savings will more than cover principal and interest payments for the loan term, so in short, “NO PAIN, BIG GAIN!”
We also offer a 7-YEAR LEASE OPTION, again through Elements Capital Group via Capital Community Bank. With this plan, your lease payments are at or near your existing electrical bill.