SOLAR INCENTIVES – BENEFITS OF SOLAR POWER
Now, there’s never been a better time to install solar panel electric systems and solar thermal systems.
When Congress passed The American Recovery and Reinvestment Act of 2009, it extended many consumer tax incentives that were introduced in the Energy Act of 2005. They also amended the Emergency Economic Stabilization Act of 2008.
And, when President Obama signed the economic stimulus bill, it opened the door for homeowners to make substantial energy efficient and renewable energy home improvements.
So, what’s in it for you? Big savings!
Solar Energy World will complete the necessary paperwork to ensure you’ll receive the solar tax credits and rebates that are available so relax – we’ll take care of the rest.
RESIDENTIAL RENEWABLE ENERGY TAX CREDITS
Consumers who install solar energy systems (including solar water heating and solar electric systems), receive a 30% federal tax credit for systems placed in service before December 31, 2016; the previous tax credit cap no longer applies.
WASHINGTON DC RENEWABLE ENERGY INCENTIVE PROGRAM
Currently closed – we will advise you of any changes.
MARYLAND SOLAR ENERGY GRANT PROGRAM
Grant Structure Effective November 1, 2011
- Solar Photovoltaic (PV): Maximum award $1,000 (flat)
- Solar Water Heating: Maximum award $500 (flat)
Solar Hot Water:
Beginning June 3, 2011 the Maryland Energy Administration has changed the grant for Solar Hot Water to $500. Also, SB717 was signed into law allowing solar hot water heating systems commissioned on or after June 1, 2011 to generate Solar Renewable Energy Credits. The new authorization will notably not take effect until January 1, 2012, thus it appears that qualifying solar water heating systems will not be able to begin generating SRECs until that time (notwithstanding the in-service date listed above).
MARYLAND COUNTY PROPERTY TAX CREDITS
- Anne Arundel County – Solar Energy Equipment Property Tax Credit
- Baltimore County – Property Tax Credit for Solar and Geothermal Devices
- Harford County – Property Tax Credit for Solar and Geothermal Devices
- Howard County – Residential Solar and Geothermal Property Tax Credit – Howard County Property Tax Credit is now closed.
- Montgomery County – Residential Energy Conservation Property Tax Credits – Montgomery County Property Tax Credit is now closed.
- Prince George’s County – Solar and Geothermal Residential Property Tax Credits
VIRGINIA RENEWABLE ENERGY REBATE PROGRAM
Is currently closed – we will advise you of any changes.
NEW JERSEY RENEWABLE ENERGY REBATE PROGRAM
Program update March 2012
There will be no upfront rebates for solar projects. All solar projects will participate in the SRP program. Rebates will be replaced with an EDC Solar Financing Incentive (EFSI) for those projects which participate in the EDC SREC-Based Financing Program in which JCPL, ACE, and RECO establish long term SREC contract prices via auctions.
To be eligible for an EDC Solar Financing Incentive (ESFI), residential projects less than or equal to 10.0 kW and public and non-profit projects less than or equal to 50.0 kW must document acceptance in the EDC SREC-Based Financing Program. The residential project incentive will be capped at 7.5 kW and the public and non-profit project incentive will be capped at 30.0 kW.
The above solar incentives are for residential solar projects only – go here for commercial solar incentives.