Solar Incentives
Credits and Rebates
A variety of financial incentives and subsidies for solar power supply a significant opportunity to save on your solar installation. Regardless of how you choose to finance your home solar system, Sungevity will handle all the paperwork to ensure that the credits are reflected in the low price of your payments. You'll get all the savings with none of the hassle.
Federal Incentives
The Investment Tax Credit (ITC) reduces the cost of your system by 30%! As part of the American Recovery and Reinvestment Act of 2009, this tax credit was extended through 2016. If you purchase a system, we'll make sure you have the necessary documentation to claim this credit come tax time.
California Incentives
The California state government offers some cash rebates at the time of installation. This can reduce the cost of your system by 10 to 15%. Many cities and utilities in California offer additional or alternative incentives, including LADWP, Anaheim Public Utilities (cash systems only), San Francisco, SMUD, Silicon Valley Power, and Alameda Municipal Power. Some of these rebates can knock thousands of dollars off the cost of your system. The list is rapidly growing, but rest assured that if your utility or city offers an incentive, we'll make sure you get the savings are reflected in your lease or cash purchase.
Arizona Incentives
Tucson Electric Power, SRP, and APS utilities are all continuing to develop their solar programs. Arizonans can also get up to a $1000 state tax credit when you buy a system. Just imagine knocking $1000 off your state tax bill next April!
Colorado Incentives
Solar*Rewards is Colorado Xcel Energy's program to provide rebates and reimbursements for solar energy. It has paid over $185 million in incentives to customers, people like you, with more than 7000 solar PV system installations.
Delaware Incentives
The Delaware Energy Office launched their Green Energy Program that provides grants for the installation of solar and wind renewable energy technologies. This means that you can apply for a grant to install a solar energy system of up to 10kW for your home. Additionally, due to high demand after the state began to offer these incentives to install alternative energy projects, Delaware began leveraging funds to create the new Renewable Energy Relief Program for solar system owners who weren't receiving funds quickly enough.
Maryland Incentives
In order to meet Maryland's Renewable Portfolio Standard requirements, 20% of the electricity within the state must be generated from renewable energy sources by 2022. 2% of the electricity generated must be from solar energy. The Solar Energy Bill (SB 277) increases the percentage requirements of the RPS that must be bought from solar energy sources each year from 2011 to 2017. The number of solar installations will increase for both homes and industries within that time frame. The Residential Clean Energy Grant Program in Maryland offers grants and financial assistance for solar energy projects as a part of this solar energy initiative. These state grants are not treated as taxable income by the State and are subtracted from the federal adjusted gross income of a Maryland resident.
New Jersey Incentives
Second to California, New Jersey is one of the largest markets in terms of solar installation and installed capacity. New Jersey's Renewable Manufacturing Incentive program provides rebates to state residents utilizing solar panels. The incentive applies the Solar Financing Model, which relies on high renewable energy standards and the use of Solar Renewable Energy Certificates (SRECs). Each time a solar system generates 1000 kWh of electricity, an SREC is earned and placed into the owner's account. These SRECs can be sold and provide revenue for the first 15 years of the system's life.
New York Incentives
The New York State Energy Research Development Authority provides cash incentives for the installation of PV systems of up to 7kW for residential sites, up to 25kW for non-profits, and up to 50kW for commercial sites. Their goal is to install 82MW (93,806 MWh) of Solar Electric Power systems. The program accepts PV incentive applications through 2015. Following an audit of the residence, a PV installer will provide the homeowner with a debriefing and information regarding details of the NYSERDA energy efficiency programs available and tips for further reducing energy consumption.
