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Financial incentives for renewable energy systems have
now been made available. Federal tax credits along with state incentives can help reduce your initial investment by up to
50%. We will help you apply for and navigate through the process of the various tax incentives, rebates and grants that are
currently offered.
For more details click on the links below. Federal, State and Local Incentives
Federal Incentives As of January
1st, 2009, a 30% investment tax credit is available for all solar electric and hot water systems. An 8-year extension of the
commercial and residential solar investment tax credit completely eliminates the monetary cap for residential solar electric
installations, and allows utilities and alternative minimum tax (AMT) filers to take the credit. Click on this link to Solar
Energy Industries Association for more details. www.seia.org/cs/solar_tax_policy
Virginia Incentives
Maryland Incentives Press Release: Solar Bill Signed! By Rick Peters
On Behalf of MDV-SEIA
MARYLAND GOVERNOR SIGNS BILL TO INCLUDE SOLAR
WATER HEATING IN ITS RENEWABLE ENERGY DIVERSITY REQUIREMENTS
Annapolis, MD - May 20, 2011. Maryland
Governor Martin O'Malley signed into law yesterday a bill that makes solar water heating systems eligible to produce Solar
Renewable Energy Credits (SRECs), making the proven technology more affordable to homeowners, businesses, nonprofits, and
government agencies.
Under the new provision, owners of solar water heating (SWH) systems will now be able to sell the
SRECs or "green attributes" of the energy they produce, just like solar photovoltaic (PV) systems. The new
law will reduce system owners' utility bills, improve the environment by reducing pollution from power plants, diversify our
energy supply, and create additional green jobs in Maryland. Several other states and the District of Columbia already
include solar water heating as a means to meet their renewable energy requirements.
"The passage and signing
of the solar hot water bill brings great opportunity to the solar industry and to the residents of Maryland, " said Delegate
Sally Jameson, D-Charles County, who sponsored the bill. "Jobs will be created while helping to meet our energy
needs and Maryland's solar requirements under the Renewable Portfolio Standard. It's a good thing for families and it's
a good thing for Maryland!"
Maryland utilities are required to buy an increasing amount of SRECs to
meet their requirements under the state's Renewable Portfolio Standard. Businesses and homeowners with solar PV and
solar water heaters generate SRECs that are sold to utilities, ultimately making solar technology more affordable. Maryland
taxpayers do not fund SRECs, but utilities pay for these through very small surcharges in electric rates. The new law
will substantially boost markets for solar water heating while creating much-needed jobs across the state.
The
first patent for a device using solar energy to heat water was issued to a Baltimore inventor in 1891, and solar water heating
is used extensively across Europe and China.
"By including solar water heating in the RPS, Maryland will increase
access to this proven technology," remarked Maryland Senator Rob Garagiola, D-Montgomery Co., another bill sponsor. "This
law will help homeowners, small businesses, non-profits and government agencies alike finance solar water heating systems
and in turn allow many more Marylanders to participate in the benefits of solar energy."
Mike Healy, partner
at Skyline Innovations and the head of MDV-SEIA's solar thermal division commented: "This is an exciting time for
the solar water heating industry. The Maryland legislation is already creating new solar installation jobs among firms
in our membership. We are very grateful to Maryland legislators for acting on this enormous opportunity."
Gov. O'Malley signed another solar energy bill into law, making changes to the state's "net metering" rules allowing
owners of photovoltaic systems to sell electricity back to their electric utility.
Washington, DC. Incentives
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