Commercial Incentive Overview
San Francisco Bay Area Commercial Solar Panels
Solar today has become more affordable, reliable, hassle-free, and compelling than ever. As a business, taking advantage of solar can be extremely beneficial. Cobalt Power Systems Inc. is an established San Francisco Bay Area solar company that has installed more than 2,600 solar photovoltaic (PV) systems throughout the Bay Area.
The main government incentive programs available are:
- Investment Tax Credit (ITC): Businesses that install solar PV systems are eligible to receive a tax credit in the amount of 22% of the total PV system cost.
- Federal MACRS + Bonus Depreciation: Under the federal Modified Accelerated Cost Recovery System, businesses may recover investments in certain property through depreciation deductions. MACRS establishes a lifespan for various types of property over which the property may be depreciated. For solar PV systems, the taxable basis of the equipment must be reduced by 50% of any Federal tax credits associated with the system. The 100% Bonus Depreciation provision, which is currently in place, means that in the first year of service, the system owner may depreciate the full 100% of the cost basis for the system.
- State of California Modified Accelerated Cost-Recovery System (MACRS): Under the Modified Cost Recovery System, businesses may recover investments in certain property through depreciation deductions. The MACRS establishes a set of class lives for various types of property over which the property may be depreciated.
Here at Cobalt Power Systems Inc., we have a wealth of experience with all types of systems, including grid-tied, energy storage, roof mount, ground mount, and pole mount.
For expert solar panel installation in San Francisco Bay Area, call our team at (650) 817-7791 today.