Top 5 Reasons to Get Solar for Your Business in 2024
- Long Term Insurance Against Rising Utility Costs
- Go solar now and lock-in your utility rate before it goes higher! - Easy Financing Options
- Baker Electric is uniquely positioned to give your business the best possible financing options
- Potential for little to no capital expenditure and buyout options - Be An Energy Steward For The Community
- Choosing a clean energy solution you can reduce harmful greenhouse gases - Temporary Tax Incentives
- The Investment Tax Credit (ITC) is a dollar-for-dollar federal tax credit worth 30% of the cost of your system
- The ITC is set to step down in 2032 - Improve Your Bottomline
- Create a sustainable future by reinvesting tens of thousands saved on energy costs into your business.
SOLAR INCENTIVES FOR YOUR BUSINESS
Businesses can deduct 30% of the cost of their solar energy system from their federal taxes the year the system is operational or up to 20 years into the future. This credit is part of the Inflation Reduction Act and is available through 2032. After that, it is scheduled to decline to 26% in 2033 and then drop to 22.5% for businesses beginning in 2034.
The Inflation Reduction Act (IRA) offers 10% in additional credits to the base Investment Tax Credit (ITC) for specific project qualifications:
- Domestic Content: Projects that use domestically produced components
- Energy Communities: If a project is located in an "energy community".
- Low-Income Communities: Projects in low-income communities
These adders can significantly increase the financial incentives for renewable energy projects, enhancing their viability.
Businesses can depreciate the value of their solar installation over time, reducing their taxable income. At the state level, the depreciation is spread over 6 years, while at the federal level, 100% can be depreciated in the first year. Typically, 85% of the full solar system cost can be depreciated over five years.
Bonus Depreciation:
- 60% depreciated in the first year for projects that go online in 2024
- 40% in 2025
- 20% in 2026
- 0% in 2027
The Modified Accelerated Cost Recovery System:
MACRS) allows solar energy system owners to depreciate their investment over a short period for tax purposes, generally over five years. This accelerated depreciation can significantly reduce the tax burden on businesses by allowing them to recover costs quickly, enhancing the financial attractiveness of investing in solar technology.
Solar Renewable Energy Credits (SRECs) are tradable credits that represent the environmental value of generating one megawatt-hour (MWh) of electricity using solar power. These credits can be sold or traded, helping meet mandatory renewable energy targets, thus incentivizing solar power investment and development.
By combining these incentives, businesses can significantly reduce their initial costs and see a return on investment typically within 4 years.
THE BOTTOM LINE
IT'S NOT "NOW OR NEVER", IT'S "NOW IS BETTER"
Since electric bills have gone up, we’ve seen a lot of disingenuous scare tactics being used to manipulate businesses into going solar.But you deserve to hear the truth from us at Baker Electric: trustworthy and reliable stewards of renewable energy solutions for commercial properties. We can provide you with accurate information, without threats, to help you make the wise choice for your business or organization.
The bottom line is: incentives for solar are indeed changing, so if you have ever considered solar for your business it’s not a matter of now or never. It’s “now is better.”By going solar sooner than later, you’ll maximize your potential utility bill savings and reap the benefits of limited-time tax credits.
It’s official: Southern California businesses & organizations are paying more for electricity than anywhere else in the country.
How can you make a meaningful difference to lower your electric bill? The most obvious answer is utilizing solar power. If getting solar has ever been in the conversation for your business or organization, there are two very important changes coming that you must know about before it’s too late.
Baker Has Achieved Great Heights in Renewable Energy
Standing tall for over eight decades, Baker Electric continues to design, build and install innovative commerical solar and utility-scale solar projects throughout Southern California and beyond.With a commitment to our clients and to our core values, we have achieved great heights in Renewable Energy.
Top Solar Contractor Rankings 2023:
#1 National Electrical Subcontractor
#1 California Electrical Subcontractor
#6 California Solar Contractor
#16 National Solar Contractor
"We are championing environmental stewardship and we love what we do."
- Ted Baker, President & CEO
"We help businesses and non-profits increase their bottom line while reducing their carbon footprint."
- Scott Williams Executive Vice President
WITH BAKER ELECTRIC, YOU CAN EXPECT:
CHANGES IN THE SOLAR INDUSTRY
More About Baker
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WHAT OUR CLIENTS HAVE TO SAY
Baker Electric was the right fit to install a 350-kilowatt 14-hundred panel solar system. By going solar we will save $120,000 each year reduce our electric bill by nearly 90 percent. This will allow us to provide an additional six hundred thousand meals to the community. I can't say enough good things about Baker Electric.
Jim Floros
President & CEO The Jacobs & Cushman San Diego Food Bank
We had the privilege to have Baker Electric install commercial solar systems at our San Diego and Solana Beach Locations. I say privilege because in both cases it was a fantastic experience. All in all, Baker is a solid company with a solid crew. Everything was extremely well coordinated and I highly recommend them.
David Bubnash
General Manager, Morena Storage, Solana Beach Storage
After a nationwide search, we found Baker had the experience and did the best job of explaining the options. They worked closely with our structural engineering and steel contractor and added roof reinforcements designed to meet seismic requirements when the concern came up. Baker stayed on schedule, did a great job of communicating and even arranged the solar commissioning after-hours and on a weekend to help us avoid interruptions to our business operations.
Todd Roberts
President Marine Group Boatworks
As a charter school leader, I depend on reliable, responsive, and high-quality support from trusted advisors. I have found Baker Electric to fully meet and exceed those expectations. Their attention to detail and a wide range of knowledge on construction management and coordination was impressive. We found them to be approachable and invested, as they pursued our project with our best interest in mind and first. We were quite satisfied with the outcome.
Monique Davis
Executive Director El Sol Science & Arts Academy
The whole experience with Baker has been excellent. The installation team was very professional and did a great job and left the site cleaner than when they arrived.
Dan
SolarReviews.com
Excellent communication throughout the project! Everyone was very professional and friendly! They made it very easy for us. Highly recommend Baker!
Monique P
BBB
Cost of Doing Nothing Calculator
Enter your average annual utility costs to see how much savings you could miss out on if you do not go solar.
Calculate NowWHAT WE DO
Commercial Solar Energy Storage
Solar Panels For Your Business
RENEWABLE ENERGY SOLUTIONS
STREAMLINED OPERATIONS
Nothing Upfront. Start Saving from Day 1
30% Federal Solar Tax Credit - Secure Safe Harbor
Potential for $0 Down / 0 Payments Until 2025
Best-in-class Custom Financing Options
100% Federal Bonus Depreciation in Year 1
Free Business Solar Evaluation ($495 Value)
ADVANCED THERMOGRAPHY PANEL SCANS
ABOUT US
Leading California with Exceptional Commercial Solar, Renewable and Energy Storage Solutions
Experience and a track record of success is everything. And with an impressive 2 GW of installed solar and a Top Solar Contractor ranking from Solar Power International, Baker is recognized as a world-class provider of renewable energy. Delivering technically advanced Commercial and Utility Scale Solar and Energy Storage solutions to business, non-profits, military, education, utilities, and others, Baker also provides its clients with the benefits of streamlined operations and technically advanced maintenance.
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KNOWLEDGEABLE
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EXPERTISE
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MANPOWER
We Deliver Energy Through People
We provide you with solutions, support and advice so you can complete your project on time.
We stand alone on the cutting edge of renewable energy solutions and we are ready to assist your organization in completing or beginning your essential projects.
We adhere to all the CDC guidelines, and rigorous cleanliness procedures.
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