Federal Tax Credit
Homes:
The US Government has created the Residential Renewable Energy Tax Credit. This tax credit allows for a personal tax credit for Solar Water Heating, Solar Photovoltaics, Wind, Fuel Cells, Geothermal Heat Pumps, and other Solar electric technology. The amount of the federal tax credit is 30% of the installed system cost. For new Geothermal, Wind, and Solar systems there is NO MAXIMUM for the credit, and excess credit can be rolled over to the next tax year. Check out: www.disreusa.org for more info.
Businesses:
The US Government has created the Business Energy Investment Tax Credit (ITC). This tax credit allows for a corporate tax credit for Solar Water Heating, Solar Photovoltaics, Wind, Fuel Cells, Geothermal Heat Pumps, and other Solar electric technology. The amount of the federal tax credit is 30% of the installed system cost for solar, fuel cells, and for wind turbines up to 100KW in nameplate capacity. For new Geothermal, Wind, and Solar systems there is NO MAXIMUM for the credit. Check out: www.disreusa.org for more info.
There are many other incentives available such as grants, loans, and other tax credits. Please see www.dsireusa.org for a complete listing.
Metering
The state of Indiana has a feeble "Net-Metering" law that allows you to get full retail for any excess power your system generates.
Give us a call at 765-702-0231 and we can tell you what kind of billing and metering options there are for you.
Renewable Energy Credits
--NEW INFORMATION ON SOLAR THERMAL AND SOLAR PV RENEWABLE ENERGY CREDITS--
ECI Wind and Solar can now offer two new services for you Renewable Energy Credits:
1) We can offer UP FRONT payments for all of your solar REC’s – Get a one time lump sum payment for your solar REC for a long term contract (10 years).
2) SOLAR THERMAL RENEWABLE ENERGY CREDIT – We can now offer solar thermal renewable energy credits. That’s Right, a good thing got even better! We can now assign and aggregate Solar Thermal Renewable Energy Credits, just like PV! PAYBACK ON SOLAR THERMAL SYSTEMS NOW UNDER 5 YEARS! (ideal installation).
Solar Renewable Energy Credits:
ECI Wind and Solar has teamed up with SolSystems (www.solsystemscompany.com) to offer a path for ECI Wind and Solar Customers to sell their unneeded Solar Renewable Energy Credits on the open market. This adds AN ADDITIONAL REVENUE SOURCE for all solar PV installations.
What's a Solar Renewable Energy Credit (SREC)? We all agree that installing Renewable Energy Systems can help the environment by reducing harmful emissions. This has lead some states to mandate that certain business and industries have a portion of their power produced from renewable resources. Some states even go a step farther and mandate that the so much of that mandate be made up of certain types of renewable energy resources. Most specifically, some states have a mandate for some percentage of solar Photovoltaics. This is where the Renewable Energy Credit comes into play. For every 1000 KW Hours of electricity that your system creates it ALSO creates 1 SREC. This is where our partnership with Sol Systems puts ECI
Wind and Solar customers ahead of the curve. If you are not a business that is required to have so many SREC's, then you can register your system, have the SREC's assigned to you, then sell them to the highest bidder. ECI Wind and Solar takes all this hassle out of your hands and lets our partner, Sol Systems, do the legwork. They will aggregate your SREC's and buy them from
you at a fixed price. Plus, they give you a contract for 5 years, locking in your price. This will take 5-10 years off the payback time of the system. Give us a call for more details.