subject: Solar Energy Usa Announces 100kw Solar Project [print this page] Solar Energy USA today announced installation plans for a 100kW solar photovoltaic project in Texas. The solar install will be the largest in Waco, Texas. The 100.05kW project will use 435 solar panels covering over 6,500 square feet of roof space which will produce an estimated 138,943 kWh worth of solar power during its first year of operation. Over 35 years this system will offset 3,710 tons of CO2, equivalent to planting 88,529 trees or removing 117,074 gallons of gasoline from the road.
Propelled by lowering costs, the U.S. solar industry grew 67 percent in 2010 followed by 69 percent growth from Q2 2010 to Q2 2011. The average cost of a completed solar system installation has fallen 20 percent since 2010, with the cost of solar panels alone declining 30 percent.
Businesses are taking note and looking to solar to reduce their expenses, and provide an added revenue stream by selling back excess power to the utility as well as added value from things like RECs (renewable energy credits).
According to Perry Bell, CEO of Solar Energy USA, "Businesses are utilizing solar to reduce their fixed costs and take advantage of tax credits and advantages to replace the ones they have lost over the years."
At a time when businesses are hard-pressed to reduce operating expenses, Solar Energy USA is working with companies to show them how a solar energy purchase can add savings that go directly to their bottom lines. And, until the end of the year, businesses have the option to take a cash payment in lieu of a federal tax credit covering 30 percent of a solar energy system which dramatically improves the cash flow of the project.
Tax rebates help bring down the cost of purchasing a new solar energy system for both commercial and residential entities. Residents in most states see a 65% off solar "SALE" because of state and federal tax incentives, while businesses can take advantage of over 90% worth of tax credits to offset the purchase of a new solar energy system.
The federal grant program currently available for businesses that install solar energy systems is set to expire on December 31, 2011. Solar companies are lobbying for a 1-year extension of the grant program, citing rapid industry growth as a result of this grant.
Many state tax credits, like the one in Georgia covering 35% of the cost of a solar energy purchase, are still available, however, to both businesses and homeowners, along with a 30% federal tax credit.
More About Solar Energy USA
Based in Atlanta, Georgia, Solar Energy USA is a national solar integrator specializing in affordable residential and commercial solar solutions including photovoltaic (PV) solar panels, solar thermal systems, and energy efficient T5 lighting. Solar Energy USA is an accumulation of engineers, project development leaders, operation officers and solution managers that have all been drawn together in the name of renewable energy.
