ZREC, Zero-emission Renewable Energy Credits, can earn business owners income based on the production of their solar systems. These qualified credits are sold back to Eversource, or United Illuminating, under a 15-year contract.
To help recoup the cost of commercial solar, each business can depreciate their system over a 5-year period with the Modified Accelerated Cost Recovery System (MACRS). The depreciation schedule follows the 5-year property half-year convention:
Connecticut offers C-PACE, Commercial Property Assessed Clean Energy. C-PACE allows building owners to finance qualifying energy efficiency and clean energy improvements by placing a voluntary assessment on their property tax bill.
For those who wish to lease a solar system for their commercial property, the CT Commercial Solar Lease Program allows qualifying applicants to lease or sign a Power Purchase Agreement (PPA) for 20 years. PPAs are for municipals, school districts, and not-for-profit (NFP) customers only. Contact us to learn other program requirements.
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Call us today at 203.878.9123 to discuss which options are available for your business or schedule a complimentary site evaluation by filling out the form below.