Over the past few years, the trend in new solar panel installations has favored residential and utility-scale operations. Corporate investments in new solar energy systems have seen slower rates of growth. However, 2015 is primed to see a boom in corporate solar investments, as business owners and stakeholders seek to take advantage of the federal tax credit that’s set to expire at the end of 2016.
According to a recent survey, the number of corporate solar power investors is set to increase by more than 40 percent from 2014 to 2015. More than 60 percent of the potential investors surveyed reported planning to invest in a new solar energy installation within the next 5 years, with an additional 20 percent who have already made an investment in 2015. One-third of those surveyed planned to invest in a solar power installation for the first time in 2015.
Part of the motivation for this increase in 2015 is the federal investment tax credit for new solar energy systems, which currently gives corporate investors a 30 percent tax break. By the end of 2016, this rate will drop to 10 percent, prompting business owners to pursue new solar installations sooner rather than later.
Better returns on investment are also a major motivating factor. Increases in the efficiency of photovoltaic (PV) panels, as well as breakthrough engineering in the realm of solar racking and mounting, have led to a corresponding increase in the total return on investment for solar installations.
At Solar FlexRack, we’re excited to see the jump in corporate solar investments. Our solar racking and solar mounting equipment is engineered with ease of installation and cost efficiency in mind, so we’re doing our part to help encourage businesses to invest in new forms of energy. If you’re interested in more information about Solar FlexRack’s role in reducing solar installation costs, don’t hesitate to contact us.