In southern Minnesota, businesses installing solar can expect tax credits, energy production rewards and even grant money.As reported by Gunnar Olson of the Fairbault Daily News.
After completing the project’s installation in October, Timm’s Trucking is now the first of its kind in Rice County using this program.
“Once they are in place and businesses start with initial projects, it’s really cost effective,” said Meyer. “That’s the point of the program, to help businesses make these upgrades by making the financing easy and affordable.”
The cost effectiveness of the project is exactly what lured Timm into applying for the program in the first place.
Timm’s will see a tax credit that will reduce the price of the project by 30 percent, as well as benefiting from the Xcel Solar Rewards program that will pay a 10-year production incentive of eight cents per kilowatt hour of electricity generated by the system.
To cap it all off, Timm is also waiting to hear from the United States Department of Agriculture regarding its Rural Energy for America Program grant, which would cover 10 percent of the cost. Even without the grant, however, Timm is confident that the project makes sense.
Read the full article by Fairbault Daily News.