The Rural Energy for America Program (REAP), included in the recent Climate Bill (Inflation Reduction Act), offers Agricultural Producers and Rural Small Businesses significant incentives to make the switch to solar power. With solar energy, farms and businesses can protect themselves against unpredictable rate hikes all while saving money and taking an important step toward energy independence and resiliency.
This newly-increased incentive means you can save thousands more on a solar project at your business or institution. This credit is now transferrable to a taxable entity and can be applied to storage projects as well.
Businesses can depreciate their solar project, and through 2024 solar is also eligible for bonus, or accelerated, depreciation.
This is a first-come, first-served block grant that brings huge additional savings to commercial solar projects. See NYSERDA’s dashboard for the most current block available.
The installation in Sodus, NY is expected to cover over 100% of Cherry Lawn’s electric load while saving over $26,000 annually, and $650,000 over the life of the array. The project utilized a short-term loan associated with federal tax credits, as well as a long term loan through their local bank.
Mastercraft Decorators, a leading manufacturer in Rochester, NY, turned to solar power to fuel their expansion into a larger facility in 2024. By partnering with GreenSpark Solar to install a 441 kW rooftop array, they cut energy costs dramatically. Leveraging state and federal incentives, Mastercraft’s solar project had a net cost of zero, empowering their growth while contributing to the community’s clean energy goals. Learn more about their story.
Upstate Door first made the switch to solar in 2015, with a 400kW ground-mount array installed by GreenSpark. In 2021, GreenSpark installed an additional 322kW ground-mount solar array for Upstate Door. Both projects received funding through NYSERDA’s NY-Sun program and are located in Warsaw, NY. Learn more about Upstate Door here.
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