How much solar power does my business need?
The size of your solar energy project is usually determined by your business’s sustainability goals, electricity use, available space, and budget. We will customize your solar powered system to meet your goals and help you reduce your consumption of grid electricity.
How do I know my business’s solar powered system is functioning properly?
Lightwave Solar installs production monitoring equipment so you can track your solar energy system’s performance online. LightWave also offers operations and management (O&M) services to help ensure your solar energy system is functioning efficiently. We know that a better performing solar powered system means more kilowatt-hours for your company and more carbon savings for the planet!
What is included in the contract amount?
LightWave Solar provides turn-key design and installation. This includes:
- Site evaluation to verify system design requirements
- Electrical drawings and site plans
- Completion of interconnection application and all other paperwork required by local utility
- Permitting
- Equipment procurement (panels, inverters, monitoring system, disconnects, meter, conduit, wire, etc. – everything needed for fully functional system)
- Installation and inspections
- Grid-interconnection/commissioning with local utility
- One-year workmanship warranty
How many years has the contractor been installing solar PV?
LightWave Solar has been installing solar PV full-time since July 2006. We helped pioneer the solar energy industry in Tennessee and have earned an outstanding reputation among local power companies, inspectors, and clients.
What are the financial incentives for a commercial solar energy system?
30% Federal Investment Tax Credit (ITC)
The 30% Federal Investment Tax Credit (ITC) is available to businesses and tax-exempt entities for solar energy systems under 1MW AC and for battery storage systems. Tax-exempt entities are eligible to receive a reimbursement via direct pay for 30% of total system cost. The 30% solar tax credit has been extended until 2032. There are ways for system owners to claim a 40%-50% solar tax credit, such as using American-made components, and locating the project in a low-income community or on a brownfield. Projects over 1MW AC must meet additional labor guidelines.
MACRS Accelerated Depreciation
Modified Accelerated Cost Recovery System (MACRS), aka Accelerated Depreciation, is a method of depreciation in which a business’s investments in solar property can be recovered through federal tax deductions. MACRS benefits can be taken all in the first year and can equal up to 20% of solar energy project costs. Taken together, tax credit and MACRS can reduce commercial solar project costs by about 50%.
USDA REAP Grant for Small Rural Businesses
For eligible rural businesses, the USDA offers a Rural Energy for America Program (REAP) grant for solar energy systems up to 50% of total solar energy project costs. LightWave Solar has grant writers on staff, and our REAP grant approval track record is 95%.
Is your contract a fixed-price cost or an estimate?
LightWave Solar provides an accurate, fixed contract amount that is based on years of experience and site-specific information. You will not be surprised with added costs.
When and how are payments being made to the contractor?
LightWave Solar outlines the payment schedule before we ask you to sign a contract. Typically, we require a 25% down payment upon contract signing. Shortly thereafter, we require a 50% payment to order materials. Once the system has been installed and commissioned by the local utility, we invoice for the remaining 25%.
