Are Incentives Available to Help prevent The Cost?
Yes, many states offer incentives.For specific information, call one of the contacts listed under 'Getting Help' at the end of this occurence booklet.Another excellent source will be the National Database of State Incentives for Renewable Energy (DSIRE).Prepared by the New york Solar Center, this database contains information on financial and regulatory incentives that promote renewable energy technologies.
Net Metering-In more than 35 states, customers who own PV systems can be helped by laws and regulations want 'net' electric meter studying. The customer is billed for the net electricity purchased from the utility over the entire billing period-that is, the distinction between the electricity coming at the power grid and disruption generated by the PV system. Through net metering, the customer obtains complete retail electricity rate-rather when compared with much lower wholesale rate-for kilowatt-hours of PV-produced electricity sent to the utility power grid. The advantages of net metering to ndividuals are especially significant in areas such as Hawaii and New York, which have high retail electric price ranges. Utilities also benefit because the solar-generated energy often coincides with their periods of 'peak' demand for electricity.
Property and Sales Tax-Tax incentives could be a sales tax exemption on the PV system purchase, a property tax exemption, or state personal income-tax credits, all of that provide an economic benefit to consumers by lowering high capital price tags. The U.S. government also provides financial support for PV technology through a tax credit for commercial uses of power. This energy investment credit provides businesses (but not individuals or utilities) along with a 10% tax credit and 5-year accelerated depreciation for won't come cheap . equipment used produce solar electricity.
Buy-Down-Rebates and buydowns, typically based with a rated power belonging to the system, help to defray high capital costs and in order to competitive, sustainable market growth. In the United States, the U.S. Department of one's has been needed to a program since TEAM-UP, or Technology Experience to Accelerate Markets in Utility Photovoltaics. Through this program, some 80 utilities in 40 states have installed more than 7 megawatts of grid-connected PV; supplier buydowns and consumer rebates range between $2 and $4 per watt.
Residential Energy Rate-This is the average retail residential rate for energy from utilities, in cents per kilowatt-hour. Look at your utility bill for ones actual rate, pay and how can you reduce it for the minimum rate.