Tag Archives: tax rebates

Solar-Energy Incentive Programs

In addition to the generous federal investment tax credit of 30%, there are over 900 financial and regulatory incentive programs for solar photovoltaic (PV) systems across the United States. While going solar is still a big decision with a pretty hefty price tag, it’s becoming more and more affordable, depending on where you live.

Considering solar and need to know if it adds value to your home?  Contact the appraisers at www.scappraisals.com for your solar value questions.

Federal Investment Tax Credit (ITC)

The solar investment tax credit (ITC) is a 30% federal tax credit for solar energy systems, both residential and commercial. Originally set to expire at the end of 2016, the tax credit has been extended and will remain at the 30% level through 2017, 2018 and 2019 and then be phased out completely over the following three years, falling to 26% in 2020, 22% in 2021 and to 10% in 2022.

There is no cap on the maximum amount of the credit. If the tax credit is more than your tax liability in the year you install the system, you can carry forward the excess amount and use it in the future. Allowable expenditures include equipment costs and labor costs for assembly, installation, preparation, and interconnection.

The tax credit applies to installations on both principal residences and second homes (even an RV or a boat can qualify as long as they are considered as a second home according to the rules of IRS).

Net Metering

Net metering is an example of a regulatory incentive for homeowners with grid-connected systems that allows you to buy electricity from the grid when you are not producing enough solar electricity and to sell your excess electricity to the grid for a credit.

In most states, you are credited for your excess electricity at the retail rate. However, recent policy changes in Nevada have resulted in a significant disincentive where solar electricity generators are only compensated for their extra electricity at the wholesale rate. After a considerable slow down in new solar system applications in that state, other jurisdictions are weighing the disadvantages of such a policy shift.

Local Incentives

Many states have put their money where their mouth is, by implementing incentive programs that truly make solar energy a better investment than sticking with the status quo (i.e. the local utility). These solar tax credits, rebates and other financial incentives can make the difference between a state/city being at grid parity or not, where grid parity is defined as the point at which solar electricity is the same or cheaper than electricity from the utility, calculated over the lifetime of the panels (on average 25 years). Now let’s take a look at three example states to better understand some of the main types of solar incentives available to homeowners.

read more at: http://www.motherearthnews.com/renewable-energy/solar-energy-incentive-programs-zbcz1606.aspx?newsletter=1&utm_source=Sailthru&utm_medium=email&utm_campaign=07.01.16%20MEN%20GEGH%20eNews&utm_term=GEGH%20eNews

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California Adds Electrical Vehicle Incentives


California’s plug-in electric vehicle drivers are about to get new financial perks.

Members of the California Public Utilities Commission are scheduled to sign off today on guidelines for an annual credit against utility bills or a one-time vehicle rebate. The commission will let individual utilities decide which incentive to offer.

Southern California Edison is proposing a one-time rebate of $250 to $350 per new vehicle owner.

San Diego Gas & Electric intends to provide an annual bill credit but declined to say how much.  “We just don’t have any specific numbers at this point. It’s too early,” said Erin Coller, an SDG&E spokeswoman. “The numbers are not available right now.”

read more at: http://www.utsandiego.com/news/2014/dec/18/electric-vehicles-get-new-perk/

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Rebates and Efficiencies Help Residents Save Energy and Cash


Save Energy

Mary Morris was wary when she had to pay for an energy audit of her single-family home in the North Park Hill to qualify for an Xcel rebate.

Twelve months later, she’s a convert. Since contractor Casey Staley from REenergizeCO completed an energy audit on her home, which was built in 1948, and performed subsequent improvements last spring, Morris has saved $438 on her energy bill. That’s in addition to Staley finding $1,100 in rebates for a $3,800 project.

Will energy efficiency add value to your home?  Contact the appraiser at www.scappraisals.com for your value questions.

“For $2,700, we got the audit, our duct work in the attic sealed with flexible mastic, and I could sense an improvement in the air quality within 24 hours,” she says.

With that money Morris also insulated the attic as well as a 1,700-square-foot main floor that included a large sun room, and weatherized a nearly 1,500-square-foot “bomb bunker” basement, where Staley added a threshold to her energy-sucking boiler room. The money also went toward purchasing an energy-efficient dishwasher.

Staley, who’s a vetted contractor through Xcel and Denver Energy Challenge, works to make sure his clients receive all rebates possible. He says residents are often unaware of how much money they can save on up-front costs. He added that residents who performed home improvements saw additional savings in their tax returns this year through a federal credit.

“That tax credit is 10 percent,” he said. “If the work is $4,000, you’re getting $400 back from the (feds).”

Morris, who received around $300 back from the tax credit this year, looks forward to a summer where her air conditioner will keep her home at a comfortable 71 degrees. “My husband says the sign of a civilized life is when you’re warm in the winter and cool in the summer,” she says. “And I agree.”

Read more: Rebates and efficiencies help residents save energy and cash – The Denver Post http://www.denverpost.com/smart/ci_23066169/rebates-and-efficiencies-help-residents-save-energy-and-cash#ixzz2RJGD8GPW

Disclaimer: for information and entertainment purposes only