In the state of Wisconsin, it’s more than just residential and business customers making the switch to solar. The Badger State happens to be a great place to take your nonprofit solar. Here are a few things you’ll want to know before getting started.
A smart investment for you and your stakeholders
For non-profits looking to be good stewards of their money, investing in solar is a great way to reduce your overall operating expenses and show your supporters you are committed to sound investments that maximize your financials for the long term.
By choosing solar, your nonprofit can strengthen your brand with stakeholders and help reinforce your mission. Making the switch to solar is a great way to further engage your community (for instance, by introducing an educational component to your solar installation) and show that you care about the stability and security of not only your organization, but the planet as well!
Incentives and grants abound
Now is a great time for your nonprofit to go solar, thanks to the wide variety of incentives available. Here are a few of the main incentives available:
The Investment Tax Credit (ITC), which allows businesses to deduct up to 30 percent of the cost of their solar panel systems from their federal taxes, was recently expanded to benefit nonprofits as well. Nonprofits and other tax-exempt entities—like municipalities and Tribal governments—can now apply for direct pay reimbursement equal to the value of the tax credit. There are also six additional bonus credits that can be applied for. Four of the credits relate to Low-Income Communities and there are two other stackable bonus credits of 10% if a project is located in an “energy community” or for projects that meet domestic manufacturing requirements. However, the IRS has not released additional guidance for the latter two credits yet.
As with all solar installations in Wisconsin, nonprofits qualify for net metering. This program allows you to sell any excess energy your panels produce back to the grid, and there’s no sales tax on solar installations in the state so you can reap those savings.
Focus on Energy is a statewide program that provides rebates of up to $50,000 for nonprofits that install energy-efficient equipment and renewable energy systems.
All of these could mean big savings on your nonprofit’s solar panel installation, and long term savings on your organization’s energy bills. Contact us today to see how we can help you get started.
