![]() ![]() Many retailers will also help you with financing through reliable programs. If you’re unsure whether the benefits will outweigh the costs of choosing, installing, and operating a solar energy farm, keep these incentives in mind. The state then provides the funding for the installation. In some cases, grants allow a farmer to choose a major improvement project, such as solar panels. Grants are another form of financial incentive for installing solar farming. That small change is saving may farmers thousands of dollars in taxation. Since 2018, what you spend on your solar energy system is fully depreciated within the first year from your taxable income. That credit has a big impact on your taxes. This credit helps cover the costs to install and operate your system. For example, the federal government offers a federal investment tax credit (ITC). The positive impact on the environment is multiplied with more farms adopting this technology.įor these reasons, both federal and state governments offer financial incentives to build and maintain their agricultural solar panel installation. Solar panels reduce emissions and impact climate change. As such, the US government has a vested interest in the sustainable growth of the industry. There are two main reasons the government provides financial incentives for solar panel farming:Īgriculture is an important part of the American economy. ![]() ![]() ![]() Harness Financial Incentives for Solar Farming Still contemplating a switch to solar farming? Read on to understand the seven crucial ways your farm could benefit from this sustainable energy solution. From combating low productivity to powering daily operations more efficiently, solar energy farming has emerged as an efficient strategy. Not only is it an answer to our global environmental challenges, but it also presents a highly viable solution for a crucial industry - agriculture.įarmers have been at the forefront of realizing the financial, environmental, and operational benefits of harnessing solar energy on their farms. Globally, the solar power industry continues to shine brighter than ever. ![]()
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