Window of Opportunity

 

 

There exists a window of opportunity for farmers and small business to purchase a solar water heating system for close to 20 cents on the dollar. This is possible through joining a number of programs and incentives together that will help you pay for a solar process water heating system.

 

The first step to determine if you pass the initial requirements being able to apply for the various programs, is a phone call to Richard Larson, the President of GreenSky Energetics, Inc. The phone number is 1-920-684-5115, please leave a message with my receptionist (on duty 24/7) if I am not available at that moment.

 

The second step is to schedule a Solar Site Assessment, please click on the link to learn more about this process. 

 

After the presentation of the Solar Site Assessment information, you will have to decide to apply for the USDA REAP Grant - some applicants may have cause to go forward without applying for this grant. Be prepared, as this is a lengthy procedure. It will require you to provide infromation about yourself and farm or business, and will require much technical information about the project from GreenSky.  This process will take a week, and may involve multiple visits to your location.

 

Should you be determined to be eligible, Focus on Energy's offers an up to a 25 percent Cash-Back Reward* program for solar heating of farm and small business process water

 

Furthur, the 30 percent Federal Tax Credit is available until 2016, but this credit can be changed to an outright grant to those posting a loss on income taxes for the year 2010. For a third party evaluation of these Federal Credits, click here.

 

Should your farm or business post a profit for this year 2010, then there will be tax payment implications for the USDA REAP Grant and the Focus on Energy Cash-Back Rewards. However, this does not mean you will be receiving less than those posting a loss, because there is also a special 5 year depreciation schedule for all solar heating equipment installed.

 

The tax bracket of which you are paying taxes may equal what you will be saving from paying Federal Taxes. Example: If you are well above the 35 percent tax bracket over the course of the 5 year schedule, then you will receive an additional 35 percent savings of taxes on the tax basis (tax basis is system cost minus REAP Grant, Cash Reward, and 1/2 of the Tax Credit. Check with your tax accountant for eligibility). To review the current Federal Tax Brackets, click here.

 

For those farms or small business posting a loss in 2010, but posting profits thereafter, the depreciation schedule is still available.

 

For a more detailed description of the Rewards and Incentives, with supporting links, please click here.

 

For an actual recent proposals, please click here.

 

 

*Focus on Energy Cash-Back Reward is based on energy savings. The formula is found here.