Lank, Johnson & Tull, CPAs Delaware Solar | Paradise Energy Solutions

Seaford, DE | 29.24 kW System

Located in Seaford, DE, Lank, Johnson and Tull, CPAs has provided tax return preparation, governmental and nonprofit audits, business consulting, personal financial planning and other accounting services for over 40 years.

When one of their clients brought in a solar investment for evaluation, they saw how lucrative solar energy could be. With tax-saving incentives, attractive grants, and a way to decrease their electricity bill, this accounting firm decided to invest in solar for their office.

Watch as Rick Tull, Senior Partner of Lank, Johnson and Tull, CPAs, shares how he took his business solar, and how Paradise Energy kept the process simple and easy.

Project Details

Financial Impact

Total System Cost

Savings

Total Savings

-$0

Net Cost (after incentive)

Financial impact figures are not available for this project.

Financial Highlights

67.1% installation cost covered by tax credits & grants
Less than 6 yr. expected time for system payback
22.3% ROI

System Overview

86 solar panels and 3 inverters

29.24 kW System

Production: 38,252 kWh annually

Environmental Impact

Tons of CO2 Offset / Year:

29.7

Tree Offset / Year:

692.4

Barrels of Oil Offset / Year:

62.7

Benefits of Solar for Lank, Johnson and Tull, CPAs

Paradise Energy worked with Lank, Johnson and Tull, CPAs to design a solar system that would cover the optimal amount for their investment. That turned out to be 100% of the office’s energy needs.
After providing all the initial paperwork, Rick could step back and let Paradise Energy Solutions take care of all the work, from permitting to installation.
After just six years, the solar system will have paid for itself and will generate free electricity for decades.
The solar system provides benefits that extend beyond a good financial investment. The panels save nearly 700 trees, offsets 63 barrels of oil, and prevents 29 tons of CO2 from being released into the atmosphere in just one year.

Testimonial

"I filled out the application, and they explained the process. Once I gave them all the initial paperwork, I didn't really have to do anything. The system is producing what they said it would, plus some. The result has been favorable for us."

Rick Tull

Lank, Johnson & Tull, CPAs

Two Is Better Than One

Rick Tull of Lank, Johnson and Tull, CPAs was first introduced to solar’s benefits when a client brought in their solar investment for review. After seeing how well the tax-savings and electricity savings worked to reduce the installation costs, Rick contacted Paradise Energy.

Soon after, they installed their first system at their office in Seaford, DE. Then, they looked to their office in Milton.

“We liked the incentives so well that we decided to install another system in our Milford office,” shares Rick.

Keeping Installation Costs Low

Installing solar requires an upfront investment, but with so many cost-saving incentives available, a solar system can pay for itself in just a few years, leaving decades of free electricity.

Lank, Johnson and Tull, CPAs were able to take advantage of the Federal Solar Investment Tax Credit. By reducing their federal tax liability by 30% of the installation cost, they installed the system for considerably less. However, since installing this system the incentive has decreased to 26% of the system's cost. As long as you have federal tax liability, you’re able to take advantage of these savings, too. But the program steps down again in 2021 to 22%.

Another attractive incentive is accelerated depreciation. This allowed Lank, Johnson and Tull, CPAs to bring all of the tax savings from depreciating the solar system to the first year, greatly reducing the upfront cost of the system.

For the system in Seaford, they were awarded a USDA REAP Grant, which is available for farms and small rural businesses to help fund energy-efficiency improvements and renewable energy projects. These grants can cover up to 25% of the total installation cost of a solar system.

Lank, Johnson, & Tull, CPAs