Every building owner is eager for the day they can switch to renewable energy. And why not. It’s good for the environment, it increases the value of your building and oh yes, it could cut energy costs down to a figure lower than your petty cash. There’s a lot going on in renewable energy so I’m taking this time to bring you up to date on the good news about renewable energy. We look to helping you gain all the benefits of technology and bottom line results because of these types of enhancements.
Those of us in this industry are seeing the stars start to align for renewable energy, especially solar. Both governmental and religious leaders have come out in favor of renewable energy sources for obvious reasons. It helps preserve the environment in lieu of creating damage.
Equipment is being offered to take advantage of the latest technologies. There are solid improvements in soft items like integration. We’ve also seen introductions of smart installation strategies. All this comes to light with the possibilities of reasonable legislation which will encourage all to reduce their energy usage. No matter where you are in investigating, planning or anticipating solar energy in your facilities this is an exciting time for renewable energy.
One program that has a lot of promise is from the U.S. Department of Energy (DOE). Their SunShot Initiative accelerates the adoption of solar energy technologies in the marketplace. In support of SunShot Initiative goals, the Solar Office partners with manufacturers, communities, universities, utilities, and other stakeholders to help reduce non-hardware costs, and lower the barriers for manufacturers to enter the market. This initiative helps ensure solar energy systems continue to become more affordable and accessible for commercial builders and building owners. They are also a force in adapting the technology and programs which make it easier for us to put together systems that are easier to install in new and existing buildings. This will provide a reasonable payback for our clients. Read about US Department of Energy’s Building Technologies Office (BTO) funding program to increase the energy efficiency of medium sized commercial buildings.
Texas and California are All Around Energy States
For those in Texas and California, we’re also getting information from industry and government sources that we’re in a good location to benefit from solar and wind energy. For some this may be all you need to let the sun or wind provide the power your building needs.
Just look at the great business climate set for renewable energy ready for us to harvest in 2016.
The good news is Congress revived the production tax credit for wind projects, retroactively adding five years to the incentive that lapsed at the end of 2014, and also extended by five years the investment tax credit for solar projects that was due to expire at the end of 2016. Using this corporate tax credit can mean an up to 30% rebate for solar, fuel cells and small wind investments. If you’re trending to geothermal or microturbine systems to provide power to your building, a 10% tax credit might be just the push you need to move ahead. Overall the experts see rooftop solar industry players making sustainable growth in the short term.
Solar Is Looking Up Because Equipment And Costs Are Down
Want even more reason to consider solar? When Congress moved on the ITC they cast a shadow on manufacturers plans. What looked like shortages in all segments due to the expected end of ITC had us set for price increases and product shortages. Extending the tax credit took pressure off current inventory and pushed prices back to last season lows. We can expect continued module, inverter and balance of system (BOS) price reductions. On the other side, these reductions can help offset the soft costs. Planning, installation codes, training, interconnection and system implementation can lead to more custom systems but also make a system more complicated. Which is another reason to rely on trusted suppliers.
Back again to the good news, the success of current installations, the growth and stability of the equipment industry as well as an extension of government incentives have attracted new lenders and increased the number of loans made for solar conversions.
Consider the What, How and When of Solar and you’ll know the Why
Yes, the business climate, the equipment and financing are all indicating this is a great time to consider going solar. We’re ready to help you decide the whats, the hows, and the whens. When you look at your energy costs you’ll quickly remember the why.
Come back again to see the next chapter on renewable energy trends.
And in the meantime if you want a long range look at some of the technologies and materials just coming on line, investigate the energy innovation portal on the Department of Energy site. Here’s a link.