Sun Collectors can offer your farm tremendous benefits with a conversion to agricultural solar in Peoria IL. Call us today at 309-271-0764 for a free estimate.
Although you have probably already heard about solar systems, you may wonder why converting your farm would make sense for you. For that reason, Sun Collectors wants to educate you on all the potential benefits you could receive with renewable energy. Our company has worked with farmers just like you to bring them the following benefits:
Discover more ways solar energy can benefit your farm by scheduling your free consultation with us through our online contact form. Our solar experts will answer your questions without high-pressure sales tactics. Because of our client-focused customer service, we receive great reviews.
Sun Collectors understands that a large upfront cost may give you pause before converting to agricultural solar in Peoria IL. However, we can help you with that, too. In fact, we offer $0 money down financing on the installation of a new solar array at your farm. Therefore, you can begin reaping the benefits of energy cost savings without having to pay a lot out of pocket to get started. As a result, our customers end up spending less money on energy costs and financing payments for their solar array each month than they did for electricity bills alone.
Sun Collectors can educate you on the money you can save and incentives you can receive with agricultural solar in Peoria IL. We understand many farmers in Illinois want to continue to pass down their farms to future generations in their families. Therefore, it takes wise money management to accomplish that goal. When you convert your farm to renewable energy, you can benefit financially in the following ways:
A solar system typically continues to produce energy at 80% of its rated capacity in year 30 in its lifetime. Therefore, the utility savings over the system lifespan can become significant. For example, a 10-kilowatt system will produce approximately 12,500 kilowatt hours of electricity each year. At a 10-cent cost per kilowatt, this saves you $1,250 annually. If you pay off your solar system in 5 years, the financial savings you experience would amount to $31,250 (30 years minus the 5-year payback period x $1,250).
The amount received is based on your system’s production. So, systems with a better solar profile will qualify for a higher incentive amount. For system sizes of 10-kilowatt (kW) AC or smaller, the incentive is paid in one lump-sum distribution 9-12 months after system commissioning. Larger systems, over 10kW AC, are paid out quarterly over a five-year period. Here is a link to the brochure for the Illinois SREC program, called The Illinois Shines Program.
The USDA allows you to apply for a grant to assist agricultural producers and rural small businesses with solar array installations. This grant can cover up to 75% of the eligible project costs. To learn more about REAP grants, ask a Sun Collectors solar specialist for more information.
Agribusiness solar array installation can also qualify for a depreciation deduction for income tax purposes. The depreciable basis is the system costs less than half of the 30% Federal Tax Credit. As a result, you can write off the entire system cost in the first year. Agribusiness owners should consult with their tax advisors for specific information.
Sun Collectors can answer all your questions about agricultural solar in Peoria IL. Give us a call at 309-271-0764 or request a free consultation online. In addition, we welcome those who want to learn more to stop by our local office at 4507 North Sterling Avenue, Suite 400, Peoria IL.
