Rising energy costs and other financial incentives are prompting a growing number of businesses in Middle Tennessee to investigate solar as a long-term alternative energy source.
To help business owners understand the benefits of solar, LightWave Solar will hold a commercial solar lunch and learn Friday at Permobil at 300 Duke Drive in Lebanon.
“Interest and demand in solar is really growing in Tennessee since solar hedges against rising electric rates,” said Brian Bickel, sales director at LightWave Solar. “Our seminar will explain solar energy basics including technology and site requirements, utility and tax incentives, and costs and financing.”
In 2010, LightWave Solar installed a 60-kilowatt rooftop solar system at Permobil’s North American headquarters in Lebanon. The system consists of 192 solar panels and generates about $16,650 annually at current electric rates.
Permobil participates in Tennessee Valley Authority’s Green Power Providers incentive program in which TVA buys 100 percent of solar electricity at the escalating retail rate for 20 years, and TVA pays a premium for the first 10 years.
“Not only does solar reduce current operating costs, it locks in electric rates for the next 25 years or so,” said Bickel. “We expect rates to increase at a faster pace than what we saw over the last decade. As rates go up, solar becomes increasingly valuable because of the avoidance of exposure to fuel cost increases over time.”
Incentives for commercial solar installations include the 30-percent Investment Tax Credit, MACRS accelerated depreciation, and USDA’s 25-percent Rural Energy for America Program grant for rural businesses and agricultural producers.
The number of solar installations in Tennessee and around the nation has grown substantially over the last few years as panel prices have fallen.
According to the Solar Energy Industries Association, the amount of solar PV installed in the U.S. in the first quarter of 2014 was up 79 percent compared to the same time the previous, making it the second-largest quarter for solar installations in the history of the market.
The commercial solar lunch and learn is free and open to the public. Lunch will be provided.
To register, call 615-641-4050 or email email@example.com.
Based in Nashville, LightWave Solar is a turn-key solar engineering, procurement and construction firm, which helped pioneer the solar industry in Tennessee. Since its founding in 2006, LightWave Solar is focused on solar PV with more than 450 solar projects installed across the region. LightWave Solar is comprised of highly trained staff, including more North American Board of Certified Energy Practitioners solar PV professionals than any other firm in Tennessee. Solar information is available at lightwavesolar.com.
Permobil has committed to enhance the lives of the physically challenged for more than 40 years. As a world leader in developing and manufacturing powered wheelchairs, Permobil is a global company, and its products can be found in more than 30 countries on four continents.
Its world headquarters office is Timrå, located north of Stockholm, Sweden. Its North American headquarters is in Lebanon. Permobil’s products include power wheelchairs, seating operations, accessories and operating systems. More than 700 agents or dealers sell its products in the U.S. For more information, visit permobil.com.