The 368 ecoSolargy Titan solar panels will produce 165,670 kilowatt hours of electricity annually and will save Command Access Technologies $1.1 million in electricity costs over the next 25 years.
With generous government incentives available, companies such as Command Access Technologies are finding that solar systems can be installed inexpensively and will dramatically reduce their monthly electricity bills, said Alan H. Lee, CEO of ecoSolargy. Lee estimated that Command Access Technologies would save $25,000 in its first year, and increasing amounts in following years as electricity costs increased.
Incentives include the solar Investment Tax Credit (ITC), which gives a 30% tax credit to companies which purchase solar systems. The ITC will expire on December 31, 2016, and for solar systems to qualify, they must be completed by December 31, 2016.
Other tax incentives that can be combined with the 30% ITC include the Modified Accelerated Cost Recovery System (MACRS), which allows a company to depreciate the system over 5 years, as opposed to the traditional 20 years. The ITC and MACRS together can pay for over 60% of the cost of installing a solar system. That is over 60% of the system cost recovered without even factoring savings on the utility bill.
Lee continued, These companies are also pleased to be making a positive contribution to the environment, as solar energy is clean energy and does not pollute.
Martin Brix, Director of Commercial PV at ecoSolargy, noted that the Command Access Technologies solar system was designed to address its specific energy needs. The project began with an extensive energy study which outlined how and when the energy was being consumed.
He said, Its not always about offsetting the entire electricity usage of a client, but about finding the proper balance between use and expense. Our goal is to create a solution that optimizes energy production benefits and minimizes cost.
Brix noted that ecoSolargy was working on other commercial projects throughout Southern California.
