If your company is considering rooftop solar in 2024, be sure to check if your project location is in a qualified Energy Community. It could reduce your project cost by 10%!
To help continue solar power’s historic growth in the US, the Energy Community Tax Credit Bonus
builds on the solar Investment Tax Credit (ITC) which was increased to 30% in 2022.
This Bonus will add 10% to the existing ITC, making a total credit of 40% – nearly half the cost of your solar project! For customers who are purchasing the solar system, your company can receive the 40% tax credit as soon as next year’s tax return. If you choose a Power Purchase Agreement (or PPA), you will see the 40% reflected in a lower monthly cost
Here are some comparisons of project savings with and without the Energy Community Bonus:
| Payback Period (Years) | ||||
|---|---|---|---|---|
| Type of Building | City, State | System Size (kW) | 30% ITC | 40% ITC |
| Chain Movie Theater | Oakland, CA | 265 | 3.2 | 2.7 |
| Large Retail Box Store | Los Angeles, CA | 785 | 3.5 | 2.9 |
| Food/Bev Manufacturing | San Jose, CA | 1168 | 3.9 | 3.3 |
Curious to see if your locations qualify? Simply type your address into the interactive map tool (DoE Map of Energy Communities) to see if your location is part of an Energy Community.
We help all of our Commercial and Industrial customers identify optimal project sites located in these valuable energy communities and we would love to do the same for your company.
OnSwitch can create a custom, contract-ready SkyQuote for many locations in 48 hours or less – all we need is an address. If you are considering several properties, let OnSwitch build your company a custom SkyPlanner and help your team compare and prioritize multiple projects on one screen.
To find out more or request a custom SkyQuote, please visit OnSwitch Energy.
