The precedents for financial profit are numerous. They aren’t exactly up for debate in the big picture. But how much gain, how many panels, where they are installed or whether your circumstances allow you to simply save money or actively generate it? Those are all decisions that will require homework and consultation. What Do You Need To Know? Vernon compares going through the process of installing solar panels to buying your first home. “I would never give up the opportunity to be a homeowner,” Vernon says, adding that he is more keenly aware now of what he wants in a home purchase than he was when he bought his first home. Perhaps the most important decision a promo company can make when considering solar panel installation is correctly determining whom to partner with or solicit consultation from. Vernon recommends doing some background on the vendor. “Are they going to be around in 20 years if you have problems?” Vernon asks. “Because we have, I believe, a 25-year guarantee on the system. Are they going to service that if something goes wrong?” McKee agrees that going in cold could lead to costly mistakes. “Most important in this process is working with a solid partner to plan the system to be sure the size is correct and that you’re going to realize the goals you’ve put in place,” McKee says. Suparna Kadam, VP of business development for Pivot Energy, a national provider and consultant for solar services, says one of the biggest mistakes she sees from businesses hoping to install solar panels is the temptation to think they can purchase them the way they purchase the products or supplies used in their everyday business operations. “A lot of companies that we deal with will have their procurement teams go out and try to buy solar, and they treat it just like buying screwdrivers,” Kadam says. “It’s really not that, so you need to treat it a little differently.” Where the panels should be installed will depend on the specifics of your building, and what approach will realize the most financial gains could very well depend on what state you’re in. Some states will allow for sales or property tax exemptions with solar energy. Federal grants are a possibility, too. No matter what state your company is located in, financial savings is possible through solar energy, but according to Kadam, states that most incentivize it in 2023 are California, Illinois, Massachusetts, New York, Maryland, Connecticut and New Jersey. Solar Power | Must Read What states most incentivize solar panels? Solar energy is beneficial and financially savvy in all 50 states, but a handful of states are great candidates for solar panels due to tax incentives, cost of energy or net metering policies: • California • New Jersey • New York • Connecticut • Maryland • Illinois • Massachusetts This is subject to change as policies and costs shift and evolve from state to state. Some states will allow for sales or property tax exemptions with solar energy. Federal grants are a possibility, too. edahymn / Shutterstock.com PPAI • JUNE 2023 • 61
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