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INCENTIVES

Provided below are links to the Database of Incentives for Renewables & Efficiency or DSIRE divided by state. This allows you to see any available incentives that have to do with green energy for your area. There are different incentives available on the federal, state, and local county levels. Listed you will find contact information, related websites with application forms, maximum amounts available for credit, requirements, etc.

MARYLAND
DELAWARE
PENNSYLVANIA
VIRGINIA
D.C.

Financial Incentives

There has never been a better time to go solar. Significant financial incentives are available from the State and Federal governments to encourage investment in solar energy. Utilizing strong state rebates and the most generous Renewable Energy Investment Tax Credit in a generation, homeowners can now install solar system that pay for themselves in as few as 4-6 years. The $2000 cap has been removed for systems placed into service in 2009.

Investment Tax Credit

Residential solar systems are now eligible to receive a 30% Investment Tax Credit (ITC). For systems placed into service in 2009, homeowners are eligible to receive a tax credit for 30% of the system cost (after rebate cost). The Economic Stabilization Act of 2008 extended the Renewable Energy ITC until 2016, and included relief from previous Alternative Minimum Tax restrictions.

Solar Property Tax Exemption

The value of a solar system is added to the appraised value of your property and does not increase your property taxes. Solar is one of the few home improvements that can be justified in terms of return on invested dollar. This tax exemption extends for the life of the solar system. The National Appraisal Institute notes that the value added to a home by a solar PV system is 20 times the value of the electricity costs saved in the first year. Due to the significant State rebate, the value of your solar system is often greater than the cost of purchase from day one.

Sales Tax Exemption

There is absolutely no  sales tax on the products and installation .

Net Metering

Net Metering Law allows solar PV system owners to bank excess electricity back to the utility company at retail rates, for a credit to owners' accounts. This is literally saving for a rainy day: When a solar system generates more electricity than is consumed by the home, such as a sunny afternoon, the extra electricity flows back the utility grid, and the utility company credits the system owner mostly at high peak rates. On rainy days or at night, the solar customer uses these credits to purchase electricity from the utility grid, mostly at lower off peak rates.

SREC -Solar Renewable Energy Certificate (credits)

SREC stands for Solar Renewable Energy Certificate and is a tradable certificate that represents all the clean energy benefits of electricity generated from a solar electric system. Each time a solar electric system generates 1000kWh (1MWh) of electricity, an SREC is issued which can then be sold or traded separately from the power. This makes it easy for individuals and businesses to finance and invest in clean, emission free solar power.

 

 

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