LOCAL SPOTLIGHT
Take Charge of Your Power I t looks like Pacific Power wants to increase utility rates again in January. For a typical homeowner, power bills will be about $15 more per month, but for a business that uses a lot of energy, the increase will be significant. Now is an excellent time to
As you build your budget for 2024, consider these points: ■ Are you planning on a big tax bill? If so, your investment in solar can reduce your near-term tax burden significantly. ■ In 2024, rapid depreciation of assets is going to take another step down from 80% to 60%, with further reductions in the following years. Take advantage of this generous gift from the Federal government before it goes away. ■ You don’t have to accept another huge increase to your power bill. You do have an option to save money with a relatively quick ROI with solar. We enjoy about 300 days of sunshine per year in Southern Oregon. This is one reason for our high quality of life. But you can also use this free resource to power your business. It’s up to you, but there’s really no downside to investing in solar. Check it out!
consider powering your business with solar panels. Because an investment in solar is a fixed asset, you can assume a fixed monthly utility cost going forward and can take advantage of numerous incentives and credits, in addition to the ability to depreciate the asset. No, solar isn’t free, but it does stand out as one of the most cost-effective investments you can make in today’s inflationary market. Local businesses like Southern Oregon Subaru, Cascade Fire Equipment, Terramai, and many others can attest to the benefits of going solar. And schools like Southern Oregon University and the Central Point School District are seeing the benefits vastly outweigh the costs, even before the anticipated utility rate hikes in 2024 and beyond.
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The Business Review | November 2023
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