Tag Archives: Corporate Solar

How Solar Can Help Your Company Achieve Corporate Sustainability Goals

Many companies are turning to solar to achieve their corporate sustainability goals in response to shifting external factors, investor attitudes, and stakeholder preferences. With interest in corporate solar surging, we wanted to highlight recent examples of those external factors, show how solar can help, and illustrate how solar has helped our clients and collaborators achieve their goals. 

What Is Corporate Sustainability?

As the Ivey Business Journal puts it, “Corporate sustainability recognizes that corporate growth and profitability are important, it also requires the corporation to pursue societal goals, specifically those relating to sustainable development — environmental protection, social justice and equity, and economic development.”

Unfortunately, many companies struggle to gauge the effectiveness of their programs. A recent survey of both public and private companies revealed that while 81% of respondents’ companies have formal programs in place, only 50% of those respondents believe their company performs effectively. Fortunately, solar can help companies produce substantial, measurable results for their corporate sustainability goals. 

Environmental Protection 

A recent United Nations report, approved by 195 governments and based on 14,000 studies, confirms that humans are responsible for climate change. While the results are unsettling, there is still hope to achieve the best outcome with a coordinated effort and swift policy change. Since solar energy systems do not produce air pollution or greenhouse gases, they can drastically reduce your organization’s carbon footprint and are also an impactful way to advance your building’s green credentials. While your company may not influence policy, it can still take part in the coordinated effort to reduce greenhouse gas emissions.  

Take The Vomela Companies’ on-site solar array as a recent example. The company is projected to offset nearly 36,000 tons of CO2 over the next 30 years, which will make a significant and positive environmental impact. That’s the equivalent to adding 44,000 acres of trees to our forests. Additionally, the company achieved the sustainable green printing certification by pairing solar with other environmentally conscious practices.

 

The Vomela Companies Rooftop Solar Array  An Aerial View of The Vomela Companies’ rooftop solar array in Saint Paul, Minnesota.

Social Justice and Equity 

The senate recently passed the $1 trillion infrastructure plan, allocating $36 billion in investment to fight climate change. In the proposal it states that, “the plan prioritizes addressing long-standing and persistent racial injustice. The plan targets 40 percent of the benefits of climate and clean infrastructure investments to disadvantaged communities.” 

According to the IEA, solar energy has surpassed all other forms of energy as the most affordable electricity source in the world. Despite this, disadvantaged communities have less access to solar energy and its benefits compared to their counterparts. As outlined by the Scientific American, ”Racial and ethnic minorities have less access to solar power, regardless of income, highlighting the need for environmental justice.” Providing these communities with access to cheap, clean energy is an actionable way for organizations to take part in both social and environmental change.  

Look at Shiloh Temple’s rooftop community solar project as a recent example. Faith groups, businesses, and organizations across North Minneapolis banded together to create positive change. While other solar gardens are being developed to allow large corporations or municipal governments to subscribe, this garden demonstrates a new model by placing clean energy in a low-income community of color, creating green jobs for local residents, and ensuring access to community solar. 

 

Community members participating in Shiloh Temple's ribbon cutting eventCommunity members participating in Shiloh Temple’s ribbon cutting event.

Economic Development

In a recent statement by SEC chairman Gary Gensler, it was announced that plans are in development for mandatory climate reporting by the end of the year, signaling publicly traded organizations to be prepared for addressing environmental, social, and governance issues. Larry Fink’s 2021 annual BlackRock CEO letter said it best. “There is no company whose business model won’t be profoundly affected by the transition to a net zero economy.” 

Jobs in the solar industry are growing 17 times faster than the US economy and 90% of newly installed electric capacity was from renewable sources in 2020. Solar installer has been consistently ranked as one of the fastest growing jobs in the US in the past 5 years, according to the SEIA. Companies that meet their energy needs with rooftop solar are supporting economic development through manufacturing, installation, and more. Opportunities for companies to support economic development with solar are not limited to rooftop installations, either. Sourcing energy from community solar gardens provides economic support to rural communities, while giving farmers and landowners a valuable opportunity to diversify income streams. 

In a recent collaboration with Summit Academy, Target Corporation, and the City of Minneapolis, IPS led a workshop with recent Summit Academy grads and solar career hopefuls to help prepare them for NABCEP certification, the most well established certification in the renewable energy field. The IPS team shared their solar industry knowledge, the students received real world experience, and Target Corporation reinforced their commitment to renewable energy by supporting future renewable energy leaders.

 

Recent Summit Academy Grads, IPS team members, and Target representatives

Recent Summit Academy grads, Target representatives, and IPS team members.

Consider Solar for Accomplishing Your Company’s Corporate Sustainability Goals.  

If your company is looking for practical ways to achieve its corporate sustainability goals, we encourage you to evaluate solar. In addition to drastically reducing energy costs and carbon emissions, solar can compliment multiple company initiatives. Interested in learning more about what solar would look like for your company? Request a quote to see if solar is right for you! We’ve been happy to learn about your energy needs, educate inquirers, and demonstrate Solar’s payback for over 30 years.

The Infrastructure Plan: What it Means for Solar and Businesses

What Is the Infrastructure Plan?

The infrastructure plan, or the American Jobs Plan is a $2 trillion proposal from the Biden administration that aims to address the climate crisis while out-competing China. If enacted, the plan would be the largest government investment on record, surpassing President Eisenhower’s interstate highway system. 

The Infrastructure Plan Focuses on:

  • Overhauling roads and bridges.
  • Electric vehicle charging stations and incentivized electric vehicle purchases.
  • Retrofitting homes for affordable energy efficiency.
  • Improvements to the US electric grid.
  • Research and development to position the US as a leader in clean energy.
  • Achieving 100% carbon free energy by 2035.
  • Equity and workforce development.

What it Means for Solar 

In short, expect to see solar doing more of what it’s great at. The plan aims to ‘spur jobs that modernize power generation and deliver clean electricity,’ calling for rapid deployment of solar, wind, and storage. The plan’s focus on energy efficiency is likely to benefit the solar industry, as the two work well together. Speaking of working well together, solar is complementary to EV charging stations, and likely to play a role in the plan’s focus on electrifying transportation. Solar can strengthen the electric grid, and solar industry leaders are already focusing on equity and workforce development. While achieving 100% carbon free energy by 2035 is no easy task, solar is well positioned to be a major contributor as the world’s most affordable energy source, and create jobs even faster.

What it Means For Businesses

The plan focuses on ‘Creating a national network of small business Incubators and innovation hubs,’ providing business owners access to credit, capital and R & D dollars. It includes funding to support entrepreneurial growth in communities of color, and will partner with rural and tribal communities to create jobs and support economic growth. While the plan includes a corporate tax rate increase from 21% to 28%, that is lowered from its prior rate of 35% in 2017. Fortunately for business owners and the solar industry, a 10 year extension of the solar tax credit would be enacted, allowing plenty of time to save 26% on a newly installed solar array.

IPS is happy to share our expertise on available solar incentives. We’ve helped businesses save as much as possible with solar for over 30 years. Interested in learning more? Reach out for a free solar analysis today.

Net Metering: What is it & why does it Matter?

What is Net Metering?

Net metering allows solar system owners to send extra energy they produce into the power grid. So if the system produces more than what they use, the energy sent into the grid is credited. Basically meaning their electric meter runs in reverse. 

 

But Don’t be Fooled.

The promise of earning additional income from the practice is nearly a myth. While it provides FANTASTIC credits & savings to your bill, your system usually won’t produce more than you use.

 

Why is it Important?

  • Firstly, it allows you to save more on utility bills with clean energy.
  • Secondly, it increases the amount of energy that the utility grid receives from renewable sources. 
  • Thirdly, it protects the power grid, allowing utilities to better manage peak loads.
  • Lastly, it increases clean energy demand, creating jobs. 

 

A Brief History of Net Metering

Beginning in the late ’70s, Steven Strong installed 2 solar systems, but he forgot to tell the utility company that his system fed excess power into the power grid.

Fortunately, it all worked, and as a result, several officials from the state and utility company were invited to the grand opening of the projects. As a result of hearing the state officials applaud Strong’s innovation, the utility company ultimately shared their praise. 

After a very positive PR response, clean energy companies across the US adopted the practice. Later on, Strong won several awards from federal agencies and was dubbed “Hero of the Planet” by Time Magazine. 

 

US States/territories with Net Metering Laws

In our home state of Minnesota, clients are only billed for their net usage. When excess energy is generated during the day, the utility company has to pay the market rate when crediting their bill.

Source: (Solar Power Worlddsireusa.org)

 

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  • Alaska
  • American Samoa
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Guam
  • Iowa
  • Kansas
  • Maine
  • Maryland

 

  • Massachusetts
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma

 
  • Oregon
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • South Carolina
  • U.S. Virgin Islands
  • Vermont
  • Virginia
  • Washington
  • Washington, D.C.
  • West Virginia
  • Wisconsin
  • Wyoming

Impact Power Solutions is happy to provide solar development services in Minnesota and across the Midwest. If you’re ready to start saving with solar, feel free to contact us or get a quote.  Being the #1 solar developer in the Midwest, our process has constantly improved for over 25 years to meet your needs. 

2020 Solar Trends: Opportunity Zones

Opportunity zones are certified low-income areas into which investors can deploy capital for value-adding projects, in exchange for federal capital gains tax and other advantages. 


In general, capital gains are incurred when selling an appreciated asset such as real estate or stocks.  The appreciated gain is taxed at a special rate, which is typically 15% to 20%.


By investing in opportunity zones an investor’s capital gains rate can be reduced by 50% to 75% depending on how long the investment is held.  


Opportunity zone funds can be used for solar, microgrids, electric vehicle charging stations, and energy storage.


Another benefit, Investors will not be taxed on any capital gains incurred from a project if they hold that property or asset for a decade or more.


There are 8,760 opportunity zones in all 50 states.

 

2020 Solar Trends: Xcel Solar Rewards Program

Xcel’s Solar*Rewards® program provides a financial incentive for residents, businesses and public entities to install solar power. Monthly payments are made to the owner of the solar system in exchange for Renewable Energy Credits (RECs) produced by solar.  This is known as a performance-based incentive or PBI.


Xcel customers also qualify for Net Metering up to 1 megawatt AC (or enough power for roughly 200 homes).  If you generate more than you need, the extra energy is added to the grid, and any excess energy will be credited to your bill. 

Additionally, there’s a specific sub-program for under-resourced communities and income-qualified multi-family.


It is important to note that small commercial incentives levels are decreasing.


Also, large projects qualify for a separate bill-credit mechanism called capacity credit program or ELPC which was strengthened in 2019.

 

2020 Solar Trends: Minneapolis Green Cost Share Program

The City of Minneapolis is offering an incentive to install solar: the Green Cost Share Program. Qualifying projects will be compensated based on the solar array’s projected first year kilowatt hour production, up to $50,000.  Funding ranges from $.20 to $.40.


Priority will be given to buildings in designated Green Zones and to buildings that are participating in the 4D Affordable Housing Program.


Worth noting, projects receiving funding will require prevailing wage.

 

2020 Solar Trends: Corporate Solar

Major corporations are really stepping up and making a commitment to sustainability and clean energy! Industry leaders like Target, Walmart, IKEA, and Cargil have decided to leverage solar to benefit their business and the environment. 

 

Additionally, real estate investment trusts are also getting in the mix. Earlier this year, we announced two new projects with STAG where we are leasing their roofs for community solar projects!

 

IPS Solar Oktoberfest at ABLE Brewery

Joins us for Happy Hour!


Join IPS Solar for a customer & client appreciation happy hour. Our event will take place at ABLE Seedhouse + Brewery, where we recently installed 100 solar panels in coordination with Hillcrest Development. Enjoy solar-powered beer and appetizers with our team as we celebrate a special Oktoberfest-themed happy hour. Prost!

RSVP Here