Popular nail dipping company saves with SolareAmerica
Revel Nails, the popular nail dip powder company, made a bold step toward sustainability by partnering with SolareAmerica to install a 243-kilowatt (kW) rooftop and parking canopy solar system. The system was designed to optimize rooftop space of their warehouse generating more than $60,000 in annual savings and reducing their carbon footprint.
Key highlights of the project
By completing the project before the end of 2022, Revel Nails qualified for a 26% Business Energy Investment Tax Credit (ITC), allowing them to offset a significant portion of their federal tax liability. Any unused credits can roll forward for up to 20 years.
Additionally, Revel Nails capitalized on 100% bonus depreciation under the Tax Reform Bill, enabling them to deduct the full cost basis of the system in the first year, further enhancing their financial return.
Revel is also generating value through New Jersey’s Transition Renewable Energy Certificates (TRECs) program. For every megawatt-hour of clean electricity their system produces, the company earns a TREC currently valued at approximately $152, with a 15-year term and no de-escalation, creating a consistent revenue stream.
To learn how SolareAmerica can partner with your organization, contact us today.
