Morton Solar Acquires Lensing Wholesale Project
Updated: Dec 8, 2020
Company One of the First in the Region to Benefit from Commercial Roof Installation Eligible for Solar Tax Credits
Evansville, Indiana: Morton Solar announces collaboration with commercial roofing company, Commercial Coatings, to bring major roofing and solar upgrades - and tax advantages - to new client, Lensing Wholesale, Inc.
This announcement comes on the heels of a recent IRS ruling that presented various Federal Solar Tax credits for commercial roofing and solar installation project. Currently valued at 26% for 2020, the tax credit will drop to 22% in 2021.
Lensing Wholesale, Inc., having just completed a roofing installation with Commercial Coatings, was perfectly positioned to benefit from additional solar tax credits that in turn created eligibility for roofing credits they didn’t previously receive. The decision to take advantage of the solar tax credits, according to company president, Joe Theby, was a no-brainer.
Businesses stand to benefit from these tax credits in more ways than one. Aside from tremendously saving money, these projects lower the building’s heat index and lower the amount of energy used overall, resulting in more financial savings.
It is projected that Lensing Wholesale, Inc. will have their system paid back within four years, two years ahead of typical commercial projects. The upgrades will also bring the company’s building grade to net-zero, enabling the Lensing Wholesale, Inc. to produce all of their energy in solar for the coming year, and significantly contributing less overall greenhouse gas emissions to the atmosphere.
The types of roofs eligible for tax cuts are white, reflective, TPO, PVC, and lighter colored metal roofs, including white, silver, or tan. Metal roof types can be corrugated, like those installed on most pole barns or standing seam and are sometimes installed on homes. Roof coatings are also eligible when applied over an older metal or membrane roof. The design and installation process involve utilizing a 'bifacial' solar panel that operates more efficiently when light from the roof reflects the solar panel's reverse side.
Morton Solar is one of the earliest pioneers in the utilization of bifacial systems in the nation. A select variety of the company's projects were among the most productive, efficient, and impactful of their time. Notable projects include numerous systems for Hoosier Energy beginning in 2007, designed to harness reflected light from white gravel surfaces to enhance their efficiency. Hoosier Energy utilized the production data from these systems to determine that solar energy was viable in Indiana, and consequently, have heavily invested in solar energy since.
About Morton Solar
Morton Solar, LLC is a full service licensed electrical contractor specializing in energy efficiencies and renewable energy. Since 2006, Morton Solar, LLC (MS) has established itself as the regional leader in the renewable energy contracting industry. The company has completed numerous residential, commercial, municipal, governmental, and utility sector projects. Areas of expertise include grid-tied photovoltaic, grid-tied with battery backup, and off-grid solar energy project design and installation, providing customers and communities with solar systems that perform above expectations.