(PRWEB) January 01, 2015
Tax benefits and other financial incentives are prompting a growing number of businesses in Middle Tennessee to investigate solar as a way to reduce operating costs and generate revenue. To help business owners learn more about installing solar, local contractor LightWave Solar and regional bank BB&T will host two Commercial Solar Lunch and Learn events this month, on Wednesday, January 14 at Casa Azafrán in Nashville, and on Friday, January 23 at the Tennessee Society of Certified Public Accountants Meeting Center in Brentwood.
“Interest and demand in solar is really growing in Tennessee since solar costs have dropped significantly in the last couple of years,” says Brian Bickel, Sales Director at LightWave Solar. “Our upcoming seminars will cover solar energy basics including technology and site requirements, costs and financing options, and tax and utility incentives.”
The Tennessee Valley Authority’s (TVA) solar incentive program, Green Power Providers, maintained a waitlist for commercial projects during most of 2014. TVA reopens the popular program capacity on January 26, and the utility will pay a premium rate for solar electricity. For a typical commercial system of 50 kilowatts, the average annual revenue for the first 10 years is approximately $9,100 per year.
“Solar reduces operating costs, and as electric rates go up, solar becomes increasingly valuable because of the avoidance of exposure to fuel cost increases over time,” explains Bickel.
Federal tax incentives for commercial solar installations include the 30% Investment Tax Credit and the Modified Accelerated Cost Recovery System (MACRS), a method of depreciation in which a business’ investments in solar property are recovered over five years through annual deductions.
“Not every business wants to wait six or seven years to see upside from their solar investment,” explains Bickel. “Some of our clients prefer to finance the portion of system cost that remains after the first year tax incentives are recouped. In most cases, this allows for positive cash flow in year two and a quicker return on their solar investment.”
The Commercial Solar Lunch and Learn events are free and open to the public. Lunch will be provided. To register, call 615-641-4050 or email info(at)lightwavesolar(dot)com.
What: Commercial Solar Lunch and Learn events presented by LightWave Solar and BB&T
When & Where: Wednesday, January 14 from 11:30 a.m. – 1 p.m. Lunch provided.
2195 Nolensville Pike
Nashville, TN 37211
When & Where: Friday, January 23 from 11:30 a.m. – 1 p.m. Lunch provided.
Tennessee Society of Certified Public Accountants Meeting Center 201 Powell Place
Brentwood, TN 37027
Register: Call (615) 641-4050 or email info(at)lightwavesolar(dot)com
LightWave Solar installed a solar system at The Bailey Company's Nashville location back in 2011 (picture attached). Impressed with the financial returns and because of their commitment to sustainability, The Bailey Company now has a total of five solar systems atop their forklift dealerships across the state.
About LightWave Solar:
Based in Nashville, LightWave Solar is an experienced solar engineering, procurement and construction (EPC) firm who helped pioneer the solar industry in Tennessee. Since their founding in 2006, LightWave Solar is 100% focused on solar PV with over 450 solar projects installed across the region. LightWave Solar is comprised of highly trained staff including more North American Board of Certified Energy Practitioners (NABCEP) Solar PV Professionals than any other firm in the Midsouth.
Solar information is available at http://www.lightwavesolar.com