The federal solar tax credit allows for non-profit businesses to receive a tax credit of 30% of their total solarinstallation costs when they install solar panels and/or battery storage. The new direct pay option allows non-profit organizations to benefit from this incentive even though they do not pay taxes. Non-profits can now receive a direct payment for 30% of their total solar energy system installation costs from the federal government, making solar installation easier and more affordable.
Any organization that has tax-exempt status with the federal government is eligible for the nonprofit solar tax credit direct pay option. This includes:
· Public schools and universities
· Government buildings and organizations
· Charities and other non-profits
· Religious organizations
Benefits of Solar for Nonprofits
Nonprofits have a lot to gain by going solar:
Electric bill savings - Electricity is a major operating expense for most organizations. Solar panels let you produce your electricity for free, reducing operating costs so you can put more money back into your organization.
Enhanced public image - Installing solar panels can garner positive publicity thanks to the environmental benefits they provide, bringing attention (and potentially donations to your organization.
Solar incentives - When you own your solar system directly, you qualify for incentives. Most states offer many incentives for commercial solar installation, including net metering, and other benefits. All of these can help your nonprofit save even more money with solar.
Blackout protection - Solar battery storage gives you a reliable backup power source and allows you to keep your solar panels on during a power outage.
Reduced carbon footprint - Powering your organization with clean, renewable solar energy will reduce your reliance on fossil fuels for energy and shrink your carbon footprint.
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