Solar Rebates and Tax Credits

Recovery Act Grants

Financial opportunities for the Office of Energy Efficiency and Renewable Energy (EERE) are offered through Grants.gov, the federal government's electronic financial assistance database. Grants.gov offers access to the financial opportunities of more than 900 grant programs from 26 federal grant-making agencies and provides a central location for locating and applying for financial assistance.

Learn more about it:

Registering with Grants.gov
Locating EERE financial assistance opportunities
Submitting applications for financial assistance opportunities.

Rebates

City and state rebate programs are typically paid in one of three ways: Upfront, as produced, or simply purchased form the generator. Your contractor will have more information on your area, but you can also look at dsire.org which compiles lists of all solar rebate programs and legislation for the U.S.

Tax Incentives

Business and Residential Energy Investment Tax Credit: 30% of the total system cost before any utility rebates can be taken as a tax credit and the annual minimum tax does not apply. More information can be found here: http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US02F

Accelerated Depreciation: Solar qualifies as five-year property (26 USC § 168(e)(3)(B)(vi)) under the MACRS. This means the owner is entitled to deduct 50% of the adjusted basis of the property for the first two fiscal years. The remaining 50% of the adjusted basis of the property is depreciated over the ordinary depreciation schedule. Get more information here: http://www.dsireusa.org/incentives/incentive.cfm

Renewable Energy Credits

RECs (a.k.a. Green Tags, Renewable Energy Certificates, or Tradable Renewable Certificates) can be sold to utilities and consumers to meet their minimum renewable energy requirements. For more information: http://apps3.eere.energy.gov/greenpower/markets/certificates.shtml

Electricity Cost Offset

California: Solar systems in California produce energy for approximately 5 hours per day. They produce the energy during peak demand times. That energy goes through the load (home or business) and excess unused energy is fed into the grid. Your utility then credits you for the excess energy.

You will see more or less savings depending on other things like time of use electric rates, seasonal production, amount of high tier electricity off-set. To learn more go here: http://www.ongrid.net/papers/SolarPaybackASES03.pdf

How does it work in your state? Check out www.dsireusa.org or ask one of our experts.

Disclaimer: The information presented on the SunPods Solar Incentives web page provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements.

While the SunPods staff strives to provide the best information possible, the SunPods staff make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The SunPods staff disclaim all liability of any kind arising from the SunPods Solar Incentives Web page.