Savings & Incentives
Overview
There are a variety of incentives available from federal, state and local governments as well as local utilities that can substantially bring down the overall cost of a solar installation. The status of each of these programs changes on a regular basis, and the way in which they interact can be confusing. Our staff is directly and intimately involved in the policy-setting process at each of these organizations, and we can provide you with the latest information on how they can impact your particular project.
Let unitech Solar help you take advantage of today's many incentive programs
Among our customers, the incentive programs most frequently used are:
Federal Tax Credit - The US government provides a tax credit of 30 percent of the total cost of a solar electricity system. This credit is set to expire at the end of 2007, and we are working actively with the Solar Energy Industries Association (www.seia.org) to get Congress to extend it.
State Business Energy Tax Credit - For eligible equipment installed from January 1, 2006, through December 31, 2008, the credit is set at 30% of expenditures for solar technologies, are eligible for a 10% credit during this two-year period. For equipment installed on or after January 1, 2009, the tax credit for solar energy property and solar hot water and heating to 10% and expires for fuel cells and microturbines. The geothermal credit remains unchanged at 10%
Local utilities - Right now a New York local utility comapny offers a one-time rebate of $3 per therm of estimated first-year savings to its commercial, industrial, and multifamily customers for the installation of solar thermal technologies. The incentive may offset up to 50% of the project costs with a maximum of $100,000 per project.
The utility first conducts a free energy audit to interested participants to identify appropriate solar thermal technologies as well as estimated natural gas savings. Recommended solar thermal applications may include solar hot water heating, solar space heating, solar pool heating, and/or high temperature process applications.