Bright Eye Solar is the experienced Maryland solar panel installer! We understand the financial incentives available to your business and will work with you to create the best strategy to save you money and create renewable energy.
Significant Savings Await in Maryland
Commercial solar panels in MD deliver cost savings, and they’re seeing a major increase in adoption. Maryland has made significant investments in solar and wants its businesses to do the same.
Grants for Commercial Solar in Maryland
A Maryland-Eligible Renewable Energy Credit is available to businesses because the state has set a goal of increasing the renewable energy it provides and the renewable energy that businesses use in the state. By working with the state government, companies installing commercial solar panels in MD gain access to state discounts and help with applying for federal savings.
One federal program available to businesses using commercial solar in Maryland is the Modified Accelerated Cost-Recovery System (MACRS), which allows businesses to recover investments in solar technologies through depreciation deductions as five-year property.
On the state level, the Commercial Clean Energy Grant Program offers a variety of savings to businesses based on solar capacity. If your business installs units that provide up to 99.99 kW, you can receive an award of $60 per kW to go toward the installation of your solar photovoltaics. If your system ranges between 100 kW and 200 kW, the award drops down to $30 per kW for every kW over the first 100.
The great news in Maryland is that commercial solar provided for water-heating systems are eligible for grants of up to $20 per square foot, with a total award capped at $5,000.
We’ll Help You Meet Maryland’s Requirements
Maryland has set specific requirements for your business to be eligible for these grants. Bright Eye Solar has been working in the Maryland market for years, and we have plenty of experience helping businesses meet requirements to reduce the costs for solar installations. We’ve provided some of the grant requirements below:
- Installations must be located in Maryland.
- A project may not receive more than one grant.
- Applications have to be submitted to MEA within 12 months of installation.
- MEA cannot offer grants to a property held in a trust.
- Multiple projects on contiguous parcels of property will be considered one project.
The requirements are straightforward in some cases and much more complex in others, so it can be difficult to choose which grant to target for your installation. We know solar panels for businesses and can help you find the right path to a more environmentally friendly business that your customers will love.
Ready to learn more? Contact us today for help deciding how your business can save with solar.