The Courier of Montgomery County reports that because of a federal program that lets nonprofit organizations get direct payments from the IRS for solar type systems, a church in Conroe is joining the evironmentally-conscious community.
Texon Solar of Houston is getting underway with a more than $1 million dollar project at Grace Crossing Church at 105 FM 1488.
A law, according to CEO of Texon Steven Khan, that is beneficial to non-profits like churches, is known as the Inflation Reduction Act of 2022.
According to Khan, a big plus for going to a solar system is the government is gave tax credits to businesses and individuals. This has been underway since 2005. but these were tax credits, and churches didn’t get them because they are not required to remit federal taxes.
A program that allows tax-exempt groups rights to clean energy financial offers, according to the Department of Energy, comes in the form of a direct pay method as opposed to a tax credit that regular businesses received.
An elder at the church, Jerry Riggs said that the new law spurred their interest in the project.
Nonprofits can wind up with 30 to 50 percent of the cost for a project by way of direct payments.
Using an electric bill for a year as a guide, according to Khan, the quantity of panels needed can be figured. The churches project will take 1,220 panels. He said similar electrical usage in the years ahead can offset the electrical payments for the church possibly for 30 years.
