Cedar Creek Energy Helps with Commercial Financing
At Cedar Creek Energy, every time we design a commercial solar energy system, we are designing it to cashflow as quickly as possible. Through the Federal Tax Credit of 26%, the MinnPACE program where you can pay for your system using a voluntary assessment on your property taxes for up to 20 years, to the Xcel Energy Rewards Program, it is our goal for your system to break even as quickly as possible. We devote our time to ensuring every commercial client receives the best financing and maximum rebates and incentives available on the market. At Cedar Creek Energy, we stay current on all federal, state and utility incentive program opportunities, and have a number of “green lenders” we can refer you to.
Power Purchase Agreements
For businesses and any government facility in Minnesota, a Power Purchase Agreement (PPA) is a no-cost way to install a solar energy system. Cedar Creek Energy. We assess the needs of the building, design and install the solar panels, connect them to your power supply, sell you the electricity generated at a price less than what a utility charges, and maintains it over the life of the contract. More about PPAs.
Commercial Financing Opportunities, Rebates, and Tax Advantages
FEDERAL SOLAR INVESTMENT TAX CREDIT (26%)
The Solar Investment Tax Credit is a federal income tax credit for residential and commercial solar energy systems built in Minnesota and throughout the U.S. When you install a solar array, you will receive a 26% tax credit on the total purchase price. So, if your solar investment was $50,000, you will receive a $13,000 one-time tax credit that will be deducted from any federal tax you owe at the end of the year your project was completed.
The PACE program is a way for commercial property owners to finance solar energy systems in Minnesota and across the nation. In the Twin Cities and throughout Minnesota, PACE “allows property owners to access competitive private financing through a partnership with local governments and the St. Paul Port Authority. Building owners who use PACE financing for their energy improvements pay back the financing through property taxes, as a voluntary special assessment,” according to the PACE website and our own experience with PACE-financed projects. With PACE, you can finance up to 20% f the “current assessed value of a parcel.” This means that if your building and property are assessed at one million dollars, you would qualify for $200,000 of PACE financing, for your commercial solar photovoltaic green energy solution. PACE financing can be given whether your project is $10,000 or $10 million. Read more >
XCEL ENERGY SOLAR REWARDS PROGRAM
We complete and submit all the paperwork for you. Xcel has a Solar Rewards program for solar system sizes that are 20 KW or less. You can also not create a system that produces more than 120 percent of your annual consumption of electricity. This figure is based on your most recent 12 months of electrical consumption. If you are approved, then you will receive an incentive for up to ten years based on your actual performance of your system. Learn more >
City of Minneapolis: Green Business Solar Projects
Good news for businesses located in Minneapolis- in 2018 the city rolled out a new incentive program to help commercial buildings to go green! Funding is available through the Green Business Cost Share Program and will provide an incentive of $0.25 per estimated annual kwh production for the 1st year of production, up to $75,000.
We’ll take a look at what you’re trying to accomplish when you’re hoping to payback, where you hope to be 5, 10, and 25 years down the road, whether the ROI starts in year 5 or year 10, and then we connect with one of the green energy lenders. We have long-standing, trustworthy relationships with a wide variety of these forward-looking lenders in Minnesota and throughout the nation.
Are there any commercial solar energy systems financing programs on the city, county, state, and federal level available right now for you—we’ll tell you exactly what’s available, even the programs that are not advertised or listed seemingly anywhere.
WE HANDLE ALL THE FINANCING FOR OUR CLIENTS.
“Even though without fail every client of ours tells us they are going solar because it’s the right thing to do, they still have to justify that decision economically. We make sure the solar payback and savings IS the right thing for them to do.” –Rob Appelhof, CEO and Founder
We look at what you’re trying to accomplish and where you hope to be 5, 10, and 25 years down the road. We evaluate the best commercial solar energy systems financing programs on the city, county, state, and federal level available to you and connect you with green energy lenders. The MnPace (Property Assessed Clean Energy) program is one such well publicized financier for green opportunities. Cedar Creek Energy pioneered the first MnPaced-financed project in Minneapolis in 2014 for Crankshaft Supply, a manufacturer that reconditions and resells old crankshafts. Crankshaft, owned by Jay Miller, consumed large amounts of energy, and Jay wanted to reduce the reliance on traditional fossil fuels and go greener.
“Cedar Creek’s goal is to help businesses become energy efficient and go solar in a way that makes the most economic sense for that business,” states Rob Appelhof, President of Cedar Creek Energy. “As precision manufacturers, Crankshaft already had a clean and efficient operation, so going solar was their natural next step – and without PACE it would not have happened.”
Tax Credits and Incentives are another benefit of solar. The Federal Investment Tax Credit of 26% is a federal credit for residential and commercial solar energy systems in Minnesota and throughout the U.S. You essentially receive a 26% tax rebate on your taxes for the year.
The Power of Tax Credits
A critical component of any project is the appropriate financing. You can count on us to develop a financing package, including incentives, rebates, and bonuses, that will work for your bottom line. We help you do the financing math and access the resources to offset costs so you can take the next step toward energy efficiency.
“At first, I thought the 26% Federal Tax Credit was more of a tax deduction; as in I could deduct it on my taxes. I was thrilled to realize that the 26% was literally a tax credit. So based on the investment we made into our solar array, I received a credit of $15,000. So if my overall tax liability was $30,000, minus the credit, I would only have to pay the IRS $15,000.” – Terrie Wheeler, Small Business Owner
“It’s a great joy to see clients willing to invest their money in renewable energy. Their motives are almost always about doing the right thing. In today’s world it’s nice to work with people who are excited about their investment in solar not as much for themselves, but more for the impact it will have on future generations.” –Rick Tisdale, Senior Project Engineer, Cedar Creek Energy
RESOURCES TO LEARN HOW WE CAN HELP YOU
Find Out What Additional Rebates and Incentives You Qualify For
Our offices are based in Blaine, Minnesota, and it is our mission to help commercial owners and individuals save money through the use of renewable energy and effective energy management practices. Our company serves clients in Minneapolis and St. Paul, Greater Minnesota and surrounding states, and across the nation.
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