FORT LAUDERDALE, FL (January 12, 2023) – Advanced Green Technologies, Florida’s leading solar contractor specializing in the design, procurement, and construction (EPC) of commercial and industrial solar energy projects for clients throughout the United States, announces it will break ground on two solar carports at the Raymond James Financial campus in St. Petersburg, Florida. Commencing in January 2023, the project will feature a total of 1.7 Megawatts between two large solar carports built on top of existing parking garages at the financial services firm’s corporate headquarters. 

Designed to withstand hurricane-force winds, Advanced Green Technologies will custom design a carport made from USA steel products that qualify for a 40% tax credit for the client. The project will generate approximately 2,500,000 kWh of renewable energy upon completion in December 2023, giving Raymond James an anticipated energy offset of approximately 10%.

Raymond James secured the additional savings by utilizing several Federal tax credit programs, including the 30% Federal Investment Tax Credit (ITC), and the 10% bonus credit for domestically produced content requirements. The flagship project will also benefit from a depreciation deduction over five years under the Federal Modified Cost Recovery System (MACRS), for which projects placed in service between 2023 and 2026 qualify for a bonus depreciation. 

“We are excited to work with Raymond James to provide a cleaner, greener footprint in the Tampa-St. Petersburg area,” said Advanced Green Technologies Executive Vice President, Clint Sockman. “With the rising electricity costs and tax credits recently increased and extended in 2023, solar is a great way to reduce expenses while increasing property value, protecting cars, promoting sustainability, and reducing your impact on our environment.” 

For more information, visit agt.com.

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ABOUT ADVANCED GREEN TECHNOLOGIES 

Advanced Green Technologies (AGT) is a solar contractor specializing in the design, procurement, and construction (EPC) of commercial, industrial, and utility-scale solar energy projects for clients in the United States and the Caribbean. Established in 2007, AGT is an experienced, award-winning contractor completing more than 250+ Megawatts of renewable energy solutions across many market segments, including private business, education, defense, government, manufacturing, and local utility companies. From initial project planning and construction to ongoing operations and maintenance, we can deliver a comprehensive turnkey solar energy solution that you will be happy with from start to finish. For more information, visit agt.com.