If ever there was a perfect application of the age-old saying…Timing is everything…
By installing a solar heating system such as the SunQuest 250 anytime this year, your business will be able to take advantage of the 30% Business Energy Investment Tax Credit (ITC).
Courtesy of NC Clean Energy Technology Center http://programs.dsireusa.org/system/program/detail/658
Qualifying is easy!
This federal tax credit, issued by the IRS, stipulates that solar energy must make up at least half of the water or space heating systems requirements, and the solar heating product must be SRCC certified. Our SunQuest 250 solar collector panel is SRCC and OG-100 certified and, depending on application, the generated heat it creates usually accounts for 50-100% of all heating requirements.
“Sounds GREAT,” you say?
Well, wait. It gets better!
You see, that ITC tax credit is equal to 30% of expenditures, and has no maximum limit. It can also be used to offset alternative minimum tax (AMT) and can be combined with other renewable resource incentives and grants. This applies to the delivery systems, such as new boilers and radiant floor heating, as well as labor.
Here’s a good example!
If you are thinking about new construction and considering pouring hundreds of yards of concrete flooring that will use radiant heating, connect our SunQuest 250 solar collectors at the same time to your delivery system (boiler, radiant floor, absorption chiller). This simple addition will result in you qualifying for that 30% tax credit. And here is where it really gets GOOD! That credit will apply to all the concrete, aggregate, pex tubes & labor for that flooring! All this expense qualifies for the 30% tax credit, just because you attached our solar product. Just think about how much savings that alone could represent. The addition of our SunQuest 250 collectors combined with the ITC tax credit of 30% makes the installation end up being considerably less expensive than traditional HVAC systems.
On new construction, it is our experience that the savings can completely pay for the cost of the solar thermal collectors and leave your business with free heat for the next 30 years!
If you are thinking about constructing a new building, incorporate a solar thermal solution! You will save money initially on the construction as well as a significant reduction in your on-going operating expenses in energy cost for the life of the building.