“It is now possible for a business to see a two year payback on solar," says Brian Bickel, Director of Sales and Marketing at LightWave Solar.
Franklin, TN (PRWEB) February 21, 2015
Solar tax benefits, utility incentives and attractive financing options 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 installer LightWave Solar and regional bank BB&T will host a Commercial Solar Lunch and Learn event on Friday, March 6 from 11:30a.m-1p.m. at Drury Plaza Hotel in Franklin.
“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 seminar will cover solar energy basics including technology and site requirements, costs and new financing options, and tax and utility incentives.”
The Tennessee Valley Authority’s (TVA) solar incentive program, Green Power Providers, reopened on January 26, and the utility will pay program participants a two cent premium rate for 100 percent of their 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.
“But 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.”
The Commercial Solar Lunch and Learn event is 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: Friday, March 6 from 11:30 a.m. – 1 p.m. Lunch provided.
Where: Drury Plaza Hotel located at 1874 West McEwen Drive, Franklin, TN 37067
Register: Call (615) 641-4050 or email firstname.lastname@example.org
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 nearly 500 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.