Indiana CAFO farms save on energy cost with solar power
Lastly, the solar Investment Tax Credit (I.T.C.) is important for the farmer to consider before making the decision to implement solar. The ITC is the federal 30% business tax credit for adoption. This is the IRS solar incentive that refunds back to a business up to 30% of the cost of the solar project in a dollar per dollar credit against a federal tax obligation the business would have paid otherwise. This means that in order to make use of this tax credit, the business would have to have a tax appetite. The credit can be retroactive for the previous tax year or spread out over future tax years in order for businesses to claim the full 30% credit. 2019 is the last tax year for the full ITC, and the credit amount drops incrementally over the next few years until it gets to 10%. at which time it will remain at that percentage indefinitely for commercial solar installations.
Emergent Solar Completes 155kW Indiana Farm Solar Project
These factors made going solar an easy choice for this farm and most farms in Indiana with high electric costs, can utilize solar in the same manner to save money, gain independence from their utility or CO-OP, and power their farm with clean energy for decades to come. Confined Animal Feeding Operations (CAFOs) such as hog, poultry, dairy farmers, along with growers of grain, seed and produce, as well as a whole host of Agribusinesses such as feed mills, grain storage, and rural operations can enjoy the financial benefits and freedom of producing their own clean power with solar energy.
You can learn more about our latest agricultural solar project by clicking on the icon links below: