State & Federal Solar Incentives
To facilitate the adoption of renewable energy systems on a broad scale, many states are offering attractive incentive programs to homeowners and businesses.
Vermont:
In addition to the incentives listed below, all renewable energy systems are exempt from Vermont sales tax.
Solar electric PV systems for residential and commercial clients qualify for a rebate of $0.75 per Watt up to $7500. Commercial projects receive an additional $0.60 per Watt for capacity between 10kW and 60kW up to $37,500. Special customers (schools, municipalities, etc.) qualify for $2.50/Watt up to 50% of total installed cost or $100,000 whichever is less.
Solar hot water systems for homeowners qualify for a rebate of $1.50 per 100 BTU/day, up to $3,000. Commercial clients qualify for a rebate of $1.50 per 100 BTU/day, up to $16,500. Special customers (schools, municipalities, etc.) qualify for a rebate of $3.00 per 100 BTU/day up to $45,000 or 50% of total installed cost.
Efficiency Vermont Website for Residential Incentives and Information.
Federal Incentives:
Residential solar hot water and solar electric PV systems qualify for a personal tax credit of 30% of the system cost. An individual can take both a 30% credit for a PV system and a 30% credit for a solar water heating system.
Commercial solar hot water and solar electric PV systems qualify for an investment tax credit 30% of the system cost.
Solar hot water, PV and wind power systems are classified as “5-year property” under the Modified Accelerated Cost-Recovery System (MACRS). Businesses can recover investments in solar systems through depreciation deductions.
More details are available at www.dsireusa.org
Contact us today to for more information about incentives in your area.
