New Energy Economic Incentives make Solar Near Free for Rural Companies

Inflation Reduction Act and REAP Grant can provide rural and agriculture production businesses funding for up to 90% of Solar Panel Installation costs. MPI Solar Energy prepares the Grant Application and can consult with your accountant on tax credits and bonus depreciation. If you qualify REAP will pay 50% of the cost and The Inflation Reduction Act will pay 30%. The depreciation bonus will add 10%. Depending on your electric company you might also receive a credit from them. These programs can significantly reduce if not eliminate payback time on your investment.

Most all businesses qualify for the Inflation Reduction Act 30% and the depreciation bonus. REAP requires the business must have 50% of gross income from direct production of agricultural products or be located in a rural area, as defined by the USDA. Rural areas generally include areas outside of cities and urban centers with populations of 50,000 or more.

If you are not an agricultural producer you can check your address eligibility here. https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=rbs

​You can read more about the REAP Grant here. https://www.rd.usda.gov/programs-services/energy-programs/rural-energy-america-program-renewable-energy-systems-energy-efficiency-improvement-guaranteed-loans

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