Incentives, Rewards and Credits
Residential Incentive Programs
GreenSky is there for you 100 percent on finding ways to save you money. Right now there is available to eligible taxpayers a 30 percent Federal Tax Credit. 30 percent of the cost of a Solar Water Heater can be subtracted directly from Federal Taxes that are owed.
Contact us now before these programs end.
Commercial Incentive Programs
Businesses are eligible to receive a federal energy investment tax credit (ITC) equal to 30% of expenditures, with no maximum credit.
In addition to the 30 percent Federal Tax Credit, commercial customers are eligible to place their equipment in a special 5 year Accelerated Depreciation schedule.
For 2012 only, solar water heating systems qualify for a 50% first-year bonus depreciation of the eligible basis. Act now to get the maximum available financial incentives!
*Consult your tax accountant for eligibility.
The USDA Farm Bill of 2008 is offering 25 percent of cost of all solar equipment in the form of a grant to farmers deriving 50 percent of their income from the farm and to small businesses in communities of 50,000 population or less in the Rural Energy for America Program (REAP). Applications for 2012 must be submitted by March 30.
Contact us now before these programs end.
Wisconsin Property Tax
All solar thermal installations are exempt from being added to the assessed value of your home. This means your property will gain added value, but your property taxes will not increase. See Wisconsin State Statute 70.111(18).
Wisconsin State Statute 66.0401
This statute is designed to benefit and protect your ability to install a solar device. This includes trumping adverse local ordinances, and future shading conditions.
Interest Free Loans and Financing
Interest free ("same as cash") loans are available through a third party lender to qualified, residential customers for up to a year. These are often used to bridge the time from signing the contract until you receive your Federal tax refund. Features of the program include:
- A convenient referral to a paperless and toll-free loan-by-phone
- Peace-of-mind for customers who provide their personal financial information directly to the bank
- A quick credit decision in about 10 minutes
Cost and Return on Investment
Please recognize that a solar energy system is a capital investment. A key benefit of your investment is the protection from continued escalation of energy prices in the future. By investing is a solar energy system now, you are locking in those energy costs for the next 25 to 30 years. Keep in mind that these example system prices are before the available incentives which could be 30% or more.
Solar Domestic Water heating: Prices start at $10,000 for a smaller residential system. Prices increase for solar water heaters with additional collectors and capacity with the capability of home heating. While significantly larger, commercial systems benefit from economies of scale.
Solar Air Heating: Prices start at $5,000 for a single collector system. The system cost is dependent upon how many air collectors are required and the complexity of the ducting run.
Solar PV (electricity): Prices for a typical, residential grid-tied system start at $12,000. A smaller capacity system mounted to your roof may provide 10-15% of your electricity. System price rises with an increase system production and capabilities. System size can be expanded to meet even the demanding needs of a business. Key factors in the pricing include the number of PV panels and roof versus ground mount.
Solar Pool Heating (seasonal): Prices start at $5,000 for a typical backyard pool. The system cost is dependent upon how many pool collectors are required and the complexity of the piping run.
Interested in getting a better number? Our site assessment process is the key to providing you with a quotation for a specific price. We spend a lot of time in our site assessment process and the result is a firm, fixed price so you know exactly what your investment is. You will not get an estimate with a surprise at the completion. As soon as you make the investment, you will reap the reward of lower energy bills that will continue for the next 30 years. A solar energy system is the only appliance in your home that produces energy! No other investment will do that for you.
The most common question after the price is “What is the payback?” Calculating a pay back is somewhat of a challenge because of the number of variables and assumptions involved. Type of energy used (for heating applications), energy cost trend for the next 30 years, general inflation, and of course the system price after incentives impact the payback. A residential solar domestic water heater typically ranges in simple payback from 8-15 years. And a solar PV system can have a payback period of 10-18 years. Commercial customers see an even better payback because of the benefit of accelerated depreciation. With a payback of 10 years you are looking at an ROI of 8%-10%. After that initial 10 years, you can look forward to another 20 years of free energy. A solar energy system is the only appliance in your home that produces energy! No other investment will do that for you.
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