Reaping Renewable Rewards
Governments and utilities offer a variety of incentives to assist residents and businesses in the transition to renewable energy. Below is a sampling of federal, utility and state policies. Find more clean energy and energy savings incentives at dsireusa.org.
Federal
Residential Renewable Energy Tax Credit
Technologies Eligible: Various solar systems, wind, geothermal heat pumps, fuel cells
Amount: 30% and no maximum on systems in service after 2008 (except certain fuel cells), excess carryovers to next tax year generally allowed
- Raising the Standard: State Laws and our Clean Energy Future
- Democratizing the Grid: Community-owned Renewable Energy
- Bio-energy Creates a Mass of Questions
- Beyond Renewable: The Cutting Edge in Energy
- A Guide to Clean Energy Incentives
Residential Energy Conservation Subsidy Exclusion
Renewables Eligible: Solar hot water, solar space heat, photovoltaics
Details: Homeowners who receive subsidies from public utilities for installing eligible renewables are not taxed on the subsidy payment
Participating Tennessee Valley Authority Partner Utilities
Green Power Providers
Technologies Eligible: Photovoltaics, wind, biomass, small hydroelectric
Amount: $1,000 upon installation; years 1-10: retail electric rate and premium payment; years 11-20: retail electric rate.
Note: TVA has already approved enough applications to meet its goals for 2013.
Energy Right Heat Pump Loan Program
Technologies Eligible: Geothermal heat pumps
Amount: Up to $10,000 for single units, up to $12,500 for multiple or advanced units; rate of 6% – 8% and repayment up to 10 years through a third party lender
By State
KY: Solar Water Heater Loan Program
Technologies Eligible: Solar water heat
Amount: 100% of equipment and installation cost; flexible rates and terms available [Program of Mountain Association for Community Economic Development]
KY: Renewable Energy Tax Credit
Technologies Eligible: Various solar electric, solar hot water and solar space heat systems; wind, geothermal heat pumps
Amount: Photovoltaics, $3/watt; all other systems, 30% of eligible costs. Maximum incentive is $500 for solar and wind; $250 for geothermal
NC: GreenPower Production Incentive
Technologies Eligible: Photovoltaics, landfill gas, wind, biomass, hydroelectric, methane, anaerobic digestion
Amount: Incentive payments vary depending on renewable used
NC: Renewable Energy Tax Credit
Technologies Eligible: Various solar electric, solar hot water and solar space heat systems; landfill gas, wind, biomass, geothermal, anaerobic digestion, small hydroelectric, ethanol, biodiesel and more
Amount: 35% with a maximum incentive between $1,400 $10,500 depending on technology
TN: Green Energy Property Tax Assessment
Technologies Eligible: Photovoltaics, wind, geothermal electric, hydrogen
Amount: Varies depending on renewable used
VA: Property Tax Exemption for Solar (Local)
Technologies eligible: Various solar electric, solar hot water and solar space heat systems
Amount: Varies by location; offered in select counties
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