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What to Know About Commercial Solar Rates & Incentives in Calgary

As you consider the possibility of selecting solar panels for your business in Calgary, thereu2019s more to think about than panel types or where youu2019ll place them. You should also consider what financial incentives may help make your investment more affordable. Likewise, you shouldnu2019t overlook the potential to make your system contribute to paying for itself through power sales.<br>

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What to Know About Commercial Solar Rates & Incentives in Calgary

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  1. What to Know About Commercial Solar Rates & Incentives in Calgary

  2. As you consider the possibility of selecting solar panels for your business in Calgary, there’s more to think about than panel types or where you’ll place them. You should also consider what financial incentives may help make your investment more affordable. Likewise, you shouldn’t overlook the potential to make your system contribute to paying for itself through power sales. Working with a trusted solar company in Calgary can help you explore and unlock these potential benefits. At Tenet Power, we believe in supporting commercial efforts to reduce carbon footprints and improve sustainability through solar power. Here’s our quick look at some of the central things to know. Why Solar Rates Matter

  3. Solar power can be a positive investment for your business in several ways. First, it offers a clear path toward reducing what you pay for electricity. In the long term, that value only increases. Second, clean energy investments reflect your commitment to sustainability and good stewardship of our environment. Finally, it can be a source of actual monetary value for your business. There are opportunities to take the excess power you generate and sell it back. All of this is possible with a smart investment, which current government incentive programs make more affordable and valuable for commercial operations. About the Seasonal Solar Rate and its Benefits for Businesses

  4. The Seasonal Solar Rate is a program available to “micro-generators,” or operators of small solar installations. A business with a solar power installation can benefit from the Seasonal Solar Rate by partnering with one of the Energy Marketersthat offer the rate option. Why should a business choose the Seasonal Solar Rate option? Simple: excellent rates for selling your excess solar power. The Seasonal Solar Rate offers both a High Rate (up to a whopping 30 cents per kilowatt hour of power generated) and a Low Rate that operators can swap between at any time. High rates are ideal for the spring and summer when you generate more power than you use. The low rate is best for winter when you need more energy than your system may generate.

  5. These rate options allow you to balance your own energy costs with the opportunity to make additional cash from solar power. Over time, this advantageous arrangement lowers the total cost of your solar system’s ownership and shortens the time till you see a positive ROI. Exploring the Federal Investment Tax Credit for Solar Installations Incentives and tax credits are important to commercial operations looking to add solar power. Both resources can provide substantial offsets for your initial costs, making the investment more viable. One incentive available right now is the Clean Technology Investment Tax Credit. The ITC is available as a refundable credit for solar systems installed until December 31, 2034.

  6. From now until December 31, 2033, the credit allows you to refund up to 30% of the cost of your solar investment in taxes. During 2034, the credit will drop to 15%, and won’t be available from 2035 onwards. As 30% can represent significant savings, businesses should strongly consider exploring their eligibility for this credit. Understanding Accelerated Capital Cost Allowance Options The Canadian government also has another tax incentive for clean energy investments, called the ACCA or Accelerated Capital Cost Allowance. The CCA offers businesses the chance to accelerate the depreciation of their solar panel investment, allowing opportunities to claim the costs of the solar investment as a tax deduction faster.

  7. The incentive is available for solar systems (and other clean energy investments) acquired after November 20, 2018. Your solar system must be up and running prior to 2028 to be eligible. Some restrictions apply. However, you could see substantial tax savings that help offset the cost of your new solar system. Find a Solar Investment That Works for Your Business Adding solar panels for your business in Calgary can deliver many positive outcomes. From a more “green” and sustainable means of operating with a lower carbon footprint to finding a financial upside, the right panel installation for your business can be a source of value. With years remaining on certain tax credits and incentives, now is the time for your business to take advantage of these opportunities.

  8. Partnering with a trusted and proven solar company in Calgary, such as Tenet Power, is the simplest path toward an effective investment. Connect with our friendly team today for more information. Set up a consultation and discuss with us how your business can benefit from solar today and in the future.

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