Residential
Benefits - Tax Credits and
Rebates
The following incentives are currently
applies to those states which offer the large incentives:
California
State Incentive for Residential:
The California rebate as of 1/1/2007 is $2.50 per AC watt. The rebates
will drop every six months. System must be interconnected through
participating utilities. This rebate does not apply to state
municipalities; SMUD, LADWP.
The following two choices of incentive applies to California residents
by the three state municipalities of SCE (Southern California Edison),
SDG&E (San Diego Gas & Electric) and PG&E (Pacific Gas &
Electric):
- Expected Performance Based
Buy-down (EPBB) Incentives:
As of 1/1/2007, the EPBB pays a one-time up-front incentive of $2.50
per AC watt of the system purchase price.
- Performance Based Incentives
(PBI):
The PBI payment will be made on a monthly basis over the 5-years
period. These payments will be $0.39 per-kWh of the actual energy
(kWh) produced by the system.
Please note that the above rebates are
subject to drop every six months. But as soon as the incentives are
filed, the home owners are locked-in with the current rate. All system
must be interconnected through participating utilities.
New Jersey State
Incentive for Residential:
Currently the New Jersey Clean Energy Program offers the following
incentives
- $3.80 per DC watt for systems less
than 10 kW
- $2.75 per DC watt for systems
between 10 kW and 40 kW
- $2.50 per DC watt for systems
between 40 kW and 100 kW
New
Jersey SRECs:
Beside the state incentives, the state of New Jersey also offers Solar
Renewable Energy Certificates (S-RECs) which are the clean attributes
that are made by the solar system that are sold to large electric
companies to meet their renewable standards. The Mehr Solar
incorporation will help you in better understanding the market as well
as offer long term contracts to ensure that you get paid.
New
York State Incentive for Residential:
The NYSERDA (New York State Energy Research and Development Authority)
are offering incentives to all residential customers who pay into the
SBC (Social Benefit Charge) collected by the major utility companies.
Following are the summery of the state incentives:
- $4.00 per DC watt for residential
systems less than 5 kW
- For additional capacity above 5 kW,
all residential incentives will be reduced by $1.00 per DC watt and
all residential incentives will be capped at 10 kW.
- All incentives are capped at 60% of
the total installed cost for all systems.
Federal
Incentive for Residential:
Beside the state incentive, the following federal incentive also applies
to solar system owners:
- One time Federal Tax credit of 30%
of the cost up to $2,000,
- Exemption from property tax
increase.
Financing:
Please ask the Mehr Solar representative for available
financing and leasing option.
|
