With our most recent commercial solar project nearing completion, we look forward to Omni-Lite Industries realizing the amazing savings that solar will bring to their manufacturing.
Omni-Lite is a $15 billion per year leading manufacturer of high quality precision components in the US. They manufacture everything from aerospace engine parts, to athletic competition products. The components they create can be found in the engine housings of jet aircraft as well as in pumps that are used in nuclear submarines and armored vehicles. Boeing and Airbus are just two of their many clients.
Just one of their key competitive strengths is their manufacture of specialized products utilizing advanced materials and precision computer controlled cold forging techniques. This unique manufacturing process has quickly brought Omni-Lite to the forefront of technological development and demand.
But there is a price for high quality manufacturing in the energy intensity that is passed on to the consumers. As prices of electricity rise with the yearly utility rate increases we are accustomed to, so do the prices of manufacturing components. Solar is the solution to breaking this cycle of rising costs, lowering overhead, gaining a ROI, and earning a level cost of energy for the next 30-years.
One of the greatest benefits to solar for commercial business Is LEVEL Energy Delivery. Having a new lower cost of energy with solar, and level cost can benefit your business in several ways.
- Reduce the overhead cost of production
- Reduce the consumer price of products and services
- Remain price competitive as competitor’s prices rise
- Gain a ROI (return on investment) for solar self-generation instead of buying from the utility.
- Level cost of energy over 30-years or more
- Long Term savings and Cost Control
One of the most overlooked benefits of solar is the long-term cumulative savings. Most solar projects are compared against each other to decide which solar contractor will get the job of adding solar to your business. Don’t forget to look at the long-term savings – not just the cost-per-watt for the initial project. Analyzing the cumulative savings can give you a better idea of real savings that come after the system has paid for itself within 3 to 5 years.
Reducing Your Up-Front Costs – Tax Benefits and MACRS
The initial cost of getting solar for your business can also be reduced – almost 60% of the initial costs can be reclaimed by using the Federal ITC (Solar Investment Tax Credit), and the MACRS (Modified Accelerated Cost Recovery System) business depreciation.
This 60% reduction can improve the ROI, and shorten the payback time considerably for commercial solar. Make sure you compare the system cost after estimating the potential savings with tax breaks.
Don’t wait! Both the ITC and the MACRS are scheduled to change within the next 2 years and the rate of return will be lower! Both programs are scheduled to step-down to lower amounts in the very near future so acting now is critical to getting the best price for commercial solar.