Solar Incentives

SOLAR INCENTIVES

sustainable energy and cleaning solutions

Solar Energy Federal Tax Credit: Residents and businesses receive a tax credit worth 30% of the cost of buying and installing a Photovoltaic solar system. This legislation is part of the Energy Policy Act of 2005 (section 1336-1337). As of January 1, 2006 the federal government allows you to take 30% tax credit right off whatever taxes you would other wise owe the IRS. After the stimulus package, this can be taken as a grant.
Federal Modified Accelerated Cost-Recovery System: Under The Federal Modified Accelerated Cost-Recovery System(MACRS), 26 USC § 168 businesses can recover investments in solar, wind and geo-thermal property through depreciation deductions. For solar, wind and geo-thermal property placed in service after 1986, the current MACRS lifetime class is 5 years.
Solar Renewable Energy Certificate: The New Jersey Solar Renewable Energy Certificate (SREC) 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 1000 kWh (1MWh) of electricity, an SREC is issued which can then be sold or traded separately. This makes it easy for individuals and businesses to finance and invest in clean, emission free solar power.

Renewable Energy Systems Improvement Grant: Agricultural producers and rural small businesses may be eligible for a grant that pays up to 25% of the project cost. This program grants up to $500,000 per renewable-energy product. Awards are made on a competitive basis.

Mortgage Interest: There are interest deductions on any systems financed.

For more information on how these solar incentives can help your business please CONTACT US

Hi Patrick, We did our first meter reading since the Line Loss Pro was installed. We are very consistent on the power we use as we are a 24/7/362 business. Motors always run and the lights are on. We are always looking for ways to cut energy costs. On the 208 volt meter prior to the install we used 26,700 kWh for a 7 day test period. After install 4/15/2015 of the LLG’s we used 19,800 kWh’s for the same amount of time. That is a difference of 25.8 % in consumption of power. For the same period last year 4/15/2014 we used 27,000kWh’s as the week after installation. On the 480 volt side we did a test run prior 7 days we used 9920kWh’s and after install4/15/2015 our big chillers ran for 3 days. So the after install meter reading was 10,000 kWh’s. Even though the chillers ran and we had an increase in usage it would be fair to say that there was a savings on the 480 Volt also of roughly 20+%. As time goes on we will be able to compare with readings form the same periods as last year when the chiller runs during the summer months. I will keep in touch and let you know how we do. I would like to thank you for reaching out to us here at Murray County Medical Center in Slayton and helping us to save energy in our business. Arl Weinrebe Murray County Medical Center Director of Plant Operations 2042 Juniper Ave Slayton MN 56172

Arl Weinrebe Murray County Minn Med Ctr Director Plant Operations