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I applaud Extra Space. I am a big fan of solar have installed it at my last 2 homes with great success. I hope more companies follow Extra Space down this clean energy path as the cost of solar and battery storage continue to become more economical.
I’m interested in putting panels at my shopping centers, but I don’t have a clue as to what the ROI is?
Clint — I have been looking into solar panels for my residence, which I realize is different from commercial, but there is a 26% residential federal tax credit, and there is one for commercial installations as well, but I don’t know what it is. Also, Indiana exempts most solar power generation equipment from sales tax and once it’s installed, it’s free of property taxation as well. I figured all of this stuff out a few months ago and it does work out to be a little better than break even in Indiana at current electric rates (at least in my case) — however, my house is a “poor candidate” for solar panels — the roof faces the wrong way and there are neighboring tall trees, etc.
Clint: I would suggest contacting a solar installation company for price information for your locations, and then compare the one-time cost of installation against your power expenses for the next 25 years. I think you’ll find it very attractive.
I installed solar panels on my house roof in 2016 and have produced more power than I use ever since. The excess juice goes into the grid and IPL credits my account. It has been hassle free.
The latest panels are more efficient and cheaper than even the ones I got in 2016. Solar is the future.
I applaud Extra Space for making a smart business move.