If you're thinking of installing solar energy on your farm, or business to lower your energy bills, you may be wondering if there are incentives or financing options to get you started. There are a variety of incentives and easy loans for improving homes in rural areas that will not only help you save money, but also assist you in completing a variety of small-scale projects.
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Solar power is among the alternative energy resources that are ideal for small-scale rural businesses or farms since it will enable you to cut down the price of electricity to almost zero and can reduce the cost of production significantly.
Here are some of the financing and incentives options to help you lower the expense of installing solar panels.
Modified Accelerated Cost Recovery System. This incentive lets you recuperate the investment cost by depreciation deductions from the federal tax you pay. This is a great method of recovering the investment cost by taxation since it permits you to take a portion of the investment's cost every year from the tax you have to pay.
Reap: is the Rural Energy for America Program. This program will offer guarantees or loans for installations of solar energy systems which includes solar panel systems. It will cover the costs for energy audits as well as installations, or any improvements.
You can also grab more information about solar loan programs by searching online.