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Financing favors Ownership
Sunrise Solar • September 8, 2016
Financing favors Ownership
Sunrise Solar
Thu, 09/08/2016 - 10:49am
Part 2
Innovative financing options make the current solar landscape appealing - in particular, the inclusion of third-party power purchase agreements (PPAs) and leasing that have brought solar to the masses. These options are further enhanced by the significant reduction in price of solar systems and, in certain states, the offering of on-bill financing and property-assessed clean energy programs, giving homeowners a better value for their money.
"If the cost of rooftop panels is cheaper than what the retail rate of electricity is, there's a savings on [the homeowner's] bill every month, and it's those savings that allow him to fully recover the investment," says Robert Borlick, an independent energy consultant. He notes that while solar leasing companies do provide value to customers, the long-term savings are not as significant as those found with ownership.
Additionally, the cost of photovoltaic solar panels has plummeted by more than 97% since the Carter administration, fueling the drive to become an innovative and entrepreneurial industry within the economy. With such a drastic decline in pricing for solar PV, the picture becomes even clearer for the case toward ownership.
Homeowners who choose a solar lease or a PPA lose many of the benefits that purchasing the system provides, including the federal 30% investment tax credit, renewable energy credits and any local incentives. These incentives are forfeited in exchange for a low upfront or zero-down option. Even more, there are several examples calculating the total cost of a 20-year lease versus purchasing the system.
Comparing the cost of electricity with a leased system to one that is owned, it is clear that such an arrangement costs twice as much where electricity is concerned. Further compounding the cost is the annual escalator built into solar leases.
For example, the average utility rate in California is $0.20/kWh and will only increase in the future. Add an annual escalator - which acts like a compounding interest rate - of 2.99%. What does this look like in the long run? A solar lease that starts at $0.18/kWh with a 2.99% escalator will eventually reach $0.31/kWh at the end of the 20-year term.
However, with solar ownership, the $0.07/kWh to $0.08/kWh is fixed. The proof in the numbers concludes that owning solar provides homeowners with the cheapest electricity that is locked in, with all tax credits and rebates remaining with the homeowner whether the system is purchased or financed.
Cost savings aside, there are many more considerations that make the decision to convert to solar electricity simple. This includes the ease of buying and reselling the systems and an overall return on investment (ROI) that could prove to be better than traditional investment vehicles such as stocks, bonds and certificates of deposit (CDs).
Article: http://www.solarindustrymag.com/
Tax season is upon us, and for businesses in Maryland with a solar system or those considering solar energy, it's the perfect time to explore the lucrative government incentives and tax credits available. Sunrise Solar is here to guide you through the process and help you maximize your savings. Investing in solar panels for your business not only reduces your environmental impact but also offers significant financial advantages. With a combination of federal tax credits and state incentives, you significantly reduce the cost of your solar installation and enjoy long-term energy savings. Solar Tax Credit for Businesses: Claim Your Federal Incentives The Federal Investment Tax Credit (ITC) is a valuable incentive for businesses that install solar energy systems. For systems installed in 2024, you can claim a 30% tax credit on the total cost of your solar project. This credit directly reduces your federal tax liability, making solar an even more attractive investment. Government Incentives for Commercial Solar in Maryland In addition to the federal ITC, Maryland offers several state-level incentives to further support businesses in adopting solar energy: Renewable Portfolio Standard (RPS): Maryland's RPS requires electricity suppliers to obtain a certain percentage of their electricity from renewable sources, including solar. This creates a market for Solar Renewable Energy Credits (SRECs), which your business can generate and sell for additional revenue. Commercial Solar Grant Program: The Maryland Energy Administration (MEA) offers grants to businesses for the installation of solar energy systems. These grants significantly offset the upfront costs of going solar. Property Tax Exemption: Maryland offers a property tax exemption for solar energy systems, meaning your property taxes won't increase due to the added value of your solar installation. Sunrise Solar: Your Partner in Navigating Solar Incentives We understand that navigating the complexities of government rebates and incentives can be challenging. Sunrise Solar is here to help you through the process. Our team of experts will guide you through the available programs, ensure you meet all eligibility requirements, and maximize your financial benefits. Don't Miss Out on Solar Savings This Tax Season As you prepare for the 2025 tax season, take advantage of the generous government rebates for solar panels in Maryland. Contact Sunrise Solar today to explore your options and discover how we help you harness the power of the sun while maximizing your financial savings.
As winter is upon us with its potential for snow and ice, it's essential to prepare your solar carport for the challenges of the season. Sunrise Solar, your trusted partner in renewable energy, offers valuable tips and insights on winterizing your HelioWing solar carport to ensure optimal performance and longevity. HelioWing Solar Carports: Built for Durability The HelioWing, a cutting-edge solar carport solution from World4Solar, is engineered for durability and resilience. Its robust design and high-quality materials withstand various weather conditions, including snow and ice. However, taking proactive steps to protect your investment during the winter months is always a wise decision. Snow Removal for Solar Carports While HelioWing carports are designed to shed snow naturally, heavy accumulation can sometimes occur. Here's how to safely remove snow from your solar carport: Use a Soft-Bristled Brush or Broom: Gently remove snow from the panels using a soft-bristled brush or broom. Avoid using sharp tools or abrasive materials that could scratch or damage the panel surface. Start from the Top: Begin snow removal from the top of the carport and work your way down. This helps prevent snow from accumulating in lower areas and causing excessive weight. Avoid Excessive Force: Use gentle sweeping motions to remove snow. Avoid applying excessive force or pressure that could damage the panels or the carport structure. Consider Professional Assistance: If you're uncomfortable with snow removal or have a large carport, consider hiring a professional service to safely clear the snow. Preventing Snow Damage on Your Solar Carport Here are some additional tips to prevent snow damage and ensure the longevity of your HelioWing carport: Regular Inspections: Inspect your carport regularly for any signs of damage or wear and tear. Address any issues promptly to prevent further problems. Clear Drainage Paths: Ensure that drainage paths around the carport are clear to prevent water accumulation and ice formation, which could damage the structure. Reinforcements (If Necessary): If you live in an area with heavy snowfall, consider adding reinforcements to your carport structure to enhance its stability and load-bearing capacity. Solar Carports Winter Maintenance: A Proactive Approach By taking proactive steps to keep your HelioWing solar carport winterized, you ensure its optimal performance and longevity throughout the season. Sunrise Solar is here to provide guidance and support, helping you maximize your solar investment and enjoy the benefits of clean energy year-round. Contact Sunrise Solar today for expert advice on winterizing your HelioWing solar carport and protecting your investment from the elements.
Winter brings its own challenges for electric vehicle (EV) owners, especially when it comes to charging. Cold temperatures can affect your EV's battery performance and charging efficiency. But don't worry! With a few proactive measures and smart charging habits, you can optimize your winter EV charging experience and keep your battery happy and healthy. Understanding Winter EV Charging Challenges Cold temperatures impact your EV battery in a few ways: Reduced Range: Lithium-ion batteries, commonly used in EVs, are sensitive to temperature changes. In colder weather, the chemical reactions within the battery slow down, reducing its capacity and overall range. Slower Charging: Similarly, cold temperatures affect the charging speed of your EV. The battery's internal resistance increases in the cold, making it harder to accept a charge quickly. Increased Battery Strain: Frequent charging in cold temperatures puts additional strain on the battery, potentially accelerating its degradation over time. Winter EV Charging Tips Here are some practical tips to optimize your EV charging during the winter months: Pre-condition Your Battery: Many EVs offer a pre-conditioning feature that warms up the battery before you start driving or charging. This significantly improves battery performance and charging efficiency in cold weather. Charge More Frequently: Instead of waiting for your battery to deplete significantly, consider charging more frequently, especially during extremely cold spells. This can help maintain a higher battery temperature and reduce strain. Utilize Smart Charging Features: Take advantage of smart charging features that allow you to schedule charging during off-peak hours or when electricity rates are lower. Some chargers also offer pre-conditioning options. Park in a Warmer Location: If possible, park your EV in a garage or covered area to protect it from the elements and maintain a more stable battery temperature. Keep Your Battery Charged: Avoid letting your EV battery completely discharge in cold weather, as this puts additional stress on it. Aim to keep your battery charged above 20% whenever possible. Sunrise Solar: Your Partner in EV Charging Solutions Sunrise Solar and Smartech Electrical offer a range of EV charging solutions designed to optimize your charging experience in all seasons. Our expert teams help you choose the right charger for your needs and provide guidance on maximizing your EV's performance during the winter months. Embrace Winter EV Charging with Confidence With a little knowledge and proactive planning, you can navigate the challenges of winter EV charging and keep your battery healthy and performing optimally. Contact Sunrise Solar today to learn more about our EV charging solutions and how we help you embrace the electric future, no matter the season.
As the days grow shorter and temperatures drop, you might wonder how your solar panels will fare in the winter months. The good news is that solar panels still generate electricity in cold weather and even in snowy conditions. However, taking measures to winterize your solar panels helps ensure optimal performance and maximize energy production throughout the season. Solar Panel Efficiency in Cold Weather Contrary to popular belief, solar panels actually perform better in colder temperatures. While sunlight is essential for generating electricity, excessive heat reduces a solar panel's efficiency. Colder temperatures help keep panels operating at their optimal temperature range, leading to increased energy production. Snow and Solar Panels: What You Need to Know Snow cover can temporarily obstruct sunlight from reaching your solar panels, reducing energy output. However, most solar panels are designed with a smooth, angled surface that allows snow to slide off naturally. Additionally, the dark color of the panels absorbs sunlight and generates heat, which helps melt snow accumulation. Winterizing Your Solar Panels While solar panels generally perform well in winter, taking a few proactive steps can help maintain optimal efficiency: Regular Monitoring: Keep an eye on your solar panel system's performance during the winter months. Monitor your energy production to identify any significant drops that might indicate snow accumulation or other issues. Snow Removal (If Necessary): If heavy snow accumulation persists and significantly impacts energy production, you may need to carefully remove snow from your panels. Use a soft-bristled brush or broom to gently remove snow without scratching the panel surface. Avoid using hot water or harsh chemicals, as these can damage the panels. Professional Inspection: Consider scheduling a professional inspection of your solar panel system before winter arrives. This helps identify any potential issues and ensures your system is ready for the colder months. Sunrise Solar: Your Partner in Winter Solar Performance Sunrise Solar is your trusted source for solar energy solutions in all seasons. Our team of experts provides guidance on winterizing your solar panels and addresses any concerns you may have about their performance in cold weather. Embrace Solar Energy Year-Round With proper care and maintenance, your solar panels continue to generate clean energy throughout the winter, contributing to a more sustainable future and reducing your reliance on the grid. Contact Sunrise Solar today to learn more about maximizing your solar investment in all seasons.
Are you a Pennsylvania or Virginia resident eager to embrace solar energy but don't own your home or lack a suitable roof for solar panels? Community solar offers a fantastic solution, and Sunrise Solar is here to help make it a reality. As your trusted solar installer in the region, we're committed to expanding access to clean energy for everyone, including renters and homeowners who can't install solar panels on their property. What is Community Solar? Community solar allows you to benefit from solar power without the need for rooftop panels. By subscribing to a portion of a local solar farm, you receive credits on your electricity bill based on the energy your share generates. It's a convenient and affordable way to support renewable energy and reduce your carbon footprint. Community Solar Benefits for Renters Access to Solar: Community solar opens the doors to solar energy for renters who may not have the option to install panels on their property. Reduced Electricity Costs: Enjoy potential savings on your electricity bills without the upfront investment of a rooftop solar system. Environmental Responsibility: Support clean energy and contribute to a more sustainable future for Pennsylvania and Virginia. Flexibility: Community solar subscriptions often offer flexibility to adjust your share or cancel your subscription if you move. Sunrise Solar: Your Community Solar Installation Experts While we don't manage community solar subscriptions or enrollments, Sunrise Solar plays a crucial role in bringing these projects to life. We work with developers and communities to install and maintain the solar farms that power community solar programs. Our Approach: Site Evaluation: We carefully assess potential sites for community solar farms, ensuring optimal energy production and minimal environmental impact. Expert Installation: Our experienced team handles the installation of solar panels and related equipment, adhering to the highest industry standards. Ongoing Maintenance: We provide maintenance services to ensure the long-term performance and efficiency of community solar farms. Community Solar: A Shared Commitment to Clean Energy Sunrise Solar believes that everyone should have the opportunity to benefit from solar energy. By installing community solar farms, we're helping to expand access to clean power and create a more sustainable future for Pennsylvania and Virginia. Contact Sunrise Solar today to learn more about community solar options in your area and discover how we help you harness the power of the sun, even if you're a renter.
Are you searching for the best commercial solar companies to partner with on your next project? Look no further than Sunrise Solar, your trusted experts in delivering high-quality commercial solar solutions. With a proven track record of success and a commitment to customer satisfaction, we're the go-to choice for businesses of all sizes in the Delmarva region and beyond. Why Choose Sunrise Solar for Your Commercial Solar Projects? We understand that choosing the right commercial solar contractor is crucial for the success of your project. Here's why Sunrise Solar stands out from the competition: Expertise and Experience: Our team of skilled engineers and installers possesses extensive experience in designing and implementing commercial solar projects of all scales. We have a deep understanding of the unique energy needs of businesses and tailor our solutions to maximize your return on investment. Commitment to Quality: We utilize only the highest quality solar panels and components, ensuring the longevity and efficiency of your solar system. Customer-Centric Approach: We prioritize customer satisfaction and provide personalized attention throughout the entire process, from initial consultation to ongoing maintenance. Proven Track Record: Our portfolio of successful commercial solar projects speaks for itself. We've partnered with businesses like BMW of Annapolis, Maryland, and Stoltzfus Brothers Construction in Chestertown, Maryland, to deliver exceptional results. Commercial Solar Contractors: Delivering Customized Solutions As experienced commercial solar contractors, we understand that each business has unique energy requirements. We take a collaborative approach, working closely with you to design a customized solar solution that aligns with your specific needs and budget. Our Commercial Solar Project Process: Consultation and Site Assessment: We'll assess your energy consumption, roof space or available land, and overall energy goals to determine the optimal solar solution for your business. System Design and Engineering: Our engineers will design a customized solar system that maximizes energy production and seamlessly integrates with your existing infrastructure. Installation and Commissioning: Our skilled installers will handle the installation process with precision and care, ensuring a smooth and efficient transition to solar power. Ongoing Monitoring and Maintenance: We provide you with comprehensive monitoring and maintenance services to ensure your solar system operates at peak performance for years to come. Partner with the Best Commercial Solar Company When you choose Sunrise Solar for your commercial solar project, you're choosing a partner dedicated to your success. We're committed to delivering exceptional results, maximizing your energy savings, and contributing to a more sustainable future for your business. Contact Sunrise Solar today to explore your commercial solar options and discover how we can help you transition your business to capitalize on the power of the sun.
In an era of rising energy costs and growing environmental concerns, farmers are increasingly turning to solar power as a sustainable and cost-effective solution. Sunrise Solar is proud to be a leader in providing innovative solar solutions for farms that help agribusinesses reduce their reliance on the grid, lower operating costs, and contribute to a more eco-friendly future. Sustainable Farming: Harnessing the Power of the Sun Sustainable agriculture practices are essential for preserving our planet and ensuring the long-term viability of farms. Solar energy aligns perfectly with these principles, offering a clean and renewable source of power that can significantly reduce a farm's carbon footprint. Solar Panel Farm: A Case Study in Success Rick and Beth Weaver, owners of a farm in Sudlersville, Maryland, partnered with Sunrise Solar to install a 356.65KW ground-mounted solar system. This impressive installation is expected to offset 100% of their electricity usage, resulting in an estimated $46,350 in savings in the first year alone and a staggering $1,400,000 over 25 years. Benefits of Solar for Farms: Reduced Energy Costs: Solar power can significantly lower or even eliminate your farm's electricity bills, freeing up capital for other investments. Predictable Energy Expenses: With solar, you gain control over your energy costs and protect your farm from fluctuating electricity prices. Environmental Stewardship: Reduce your farm's reliance on fossil fuels and contribute to a cleaner environment. Improved Efficiency: Power essential farm operations, such as irrigation systems, livestock facilities, and crop processing, with clean and reliable solar energy. Increased Property Value: Solar installations can enhance the value of your farmland. Sunrise Solar: Your Partner in Sustainable Agriculture We understand the unique needs of agribusinesses and offer customized solar solutions that integrate seamlessly with your farm operations. Our team of experts will guide you through every step of the process, from site assessment and system design to installation and ongoing maintenance. Solar Panel Farm: A Wise Investment for the Future By choosing solar for farms, you're not only investing in your farm's financial health but also contributing to a more sustainable future for generations to come. Contact Sunrise Solar today to explore how we can help you harness the power of the sun and cultivate a brighter tomorrow for your farm.
As 2024 draws to a close, it's clear that this year has been a pivotal one for the solar energy industry. From technological advancements to increased EV growth predictions, the future of solar is brighter than ever. Sunrise Solar, your trusted partner in renewable energy solutions, is excited to bring these innovations to the DELMARVA region and beyond. This year, we've witnessed remarkable progress in solar technology, with advancements in panel efficiency, energy storage solutions, and smart energy management systems. These innovations have made solar power more accessible, affordable, and reliable than ever before. EV Growth Predictions and Technological Advancements The electric vehicle (EV) market has experienced exponential growth in 2024, with sales exceeding expectations and infrastructure development accelerating. This surge in EV adoption has fueled demand for innovative charging solutions, and Sunrise Solar is at the forefront of this trend. Our EV charging stations, including cutting-edge solar carports, provide convenient and sustainable charging options for homes and businesses. Innovative Solar Carport Technology Solar carports have emerged as a game-changer, offering a dual-purpose solution that combines shaded parking with clean energy generation. These sleek and modern structures not only enhance property aesthetics but also provide valuable energy independence and cost savings. Business Energy Solutions: Tailored Solar Solutions for Every Need Businesses of all sizes are increasingly recognizing the benefits of solar energy, both for their bottom line and the environment. Sunrise Solar offers a range of solutions tailored to meet the unique needs of various businesses, whether you're a large corporation or a small local shop. Community Solar: Sharing the Benefits of Clean Energy Community solar provides an alternative for businesses, renters, or homeowners that may not have suitable space for solar panels or prefer a lower upfront investment. By subscribing to a share of a local solar farm, you can still enjoy the benefits of solar energy without the need for on-site installation. Looking Ahead to 2025 As we enter a new year, Sunrise Solar is committed to bringing the latest solar innovations to the DELMARVA region. We're excited to partner with homeowners, businesses, and communities to help them harness the power of the sun and embrace a brighter, more sustainable future. Contact Sunrise Solar today to explore the latest in solar technology and discover how we can help you achieve your energy goals in 2025 and beyond.
In the heart of the Delmarva region, where agriculture thrives, a new era of sustainability is dawning. Sunrise Solar is empowering farmers to harness the power of the sun with innovative agricultural solar solutions that boost efficiency, reduce costs, and promote environmental stewardship. Solar Energy: A Natural Ally for Agriculture Farmers understand the importance of utilizing natural resources effectively. Solar energy is a perfect complement to agricultural operations, offering a clean and abundant source of power that aligns with the values of sustainability and land stewardship. Benefits of Agricultural Solar Solutions: Reduced Energy Costs: Solar panels can significantly reduce or even eliminate your farm's reliance on the grid, leading to substantial savings on your electricity bills. Increased Predictability: With solar energy, you gain control over your energy costs, shielding your farm from fluctuating electricity prices. Enhanced Sustainability: Reduce your farm's carbon footprint and demonstrate your commitment to environmental responsibility. Improved Efficiency: Solar power can be used to power various farm operations, from irrigation systems and livestock facilities to crop processing and storage. Sunrise Solar: Your Partner in Agricultural Solar We understand the unique energy needs of farms and agricultural businesses. Our team of experts will work closely with you to design a customized solar solution that seamlessly integrates with your operations and maximizes your return on investment. Our Services: Site Assessment: We'll evaluate your property to determine the optimal placement and size of your solar array. System Design: We'll design a system that meets your energy needs and complements your farm's infrastructure. Installation and Maintenance: We'll handle the installation and ongoing maintenance of your solar system, ensuring optimal performance. Financing Options: We'll help you explore financing options to make your solar investment affordable. Cultivate a Sustainable Future with Solar Sunrise Solar is committed to helping farmers embrace the benefits of solar energy. By choosing solar, you're not only investing in your farm's financial health but also contributing to a cleaner, more sustainable future for generations to come. Contact Sunrise Solar today to explore how agricultural solar solutions can transform your farm and help you harvest the power of the sun.
As electric vehicle (EV) adoption accelerates, businesses are recognizing the importance of providing EV charging stations to attract customers and enhance their brand image. But did you know installing EV chargers can also unlock significant financial incentives? Sunrise Solar, partnering with Smartech Electrical on these projects, is here to guide you through the landscape of state and federal incentives available for businesses in Maryland and Delaware. Maryland EV Charger Incentives The Maryland Energy Administration (MEA) offers the following programs to support businesses in installing EV charging infrastructure: EVSE Rebate Program: This program provides rebates for Level 2 and DC Fast Chargers, helping businesses offset the cost of purchasing and installing EVSE. This rebate is up to 50% of the eligible costs up to $5,000 The EVSE Rebate Program also provides incentives for residential EV charging installations up to 50% of eligible costs up to $700. Delaware EV Charger Incentives The Delaware Department of Natural Resources and Environmental Control (DNREC) also offers attractive incentives for businesses: EV Charging Equipment Rebate Program: This program provides rebates for Level 2 charging stations installed at public access, fleet, and workplace locations. Clean Transportation Incentive Program: This program offers financial assistance for various clean transportation projects, including EV charging infrastructure. Workplace Charging Rebate Program: This program specifically supports businesses in installing EV chargers for employee use, promoting workplace charging and reducing emissions. Federal EV Charger Incentives In addition to state incentives, businesses can also leverage federal tax credits: Alternative Fuel Refueling Property Credit: This tax credit can offset a portion of the costs associated with installing EV charging stations. Sunrise Solar: Your Partner in EV Charging Solutions Navigating the landscape of EV charger incentives can be complex. Sunrise Solar is here to simplify the process. We'll help you identify and secure the incentives you're eligible for, ensuring you maximize your return on investment. Our Services: Consultation: We'll assess your charging needs and guide you through the available incentive programs. Installation: We'll handle the installation of your EV chargers, ensuring compliance with all relevant codes and regulations. Ongoing Support: We offer maintenance and support to keep your charging stations running smoothly. Embrace the Future of Transportation Investing in EV charging infrastructure is a smart move for your business and the environment. With Sunrise Solar and Smartech Electrical, you can take advantage of attractive incentives to make the transition even more rewarding. Contact us today to explore your options and power up your business with EV charging stations.
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