Grants & Rebates

Google Discloses Carbon Footprint, Renewable Energy Goals

Calif., USA – Google has been playing an interesting role in renewable energy development, and not only because it has invested more than $780 million in renewable energy generation and tech development. The search giant on Thursday added a site that tallies the company’s electricity use, including the amount of renewable electricity it’s using, along with its carbon …

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Veterans, Politicians Team Up in Battle to Change Energy Policy

CONCORD, NH, U.S.A – It was 1996 and Rear Adm. Larry Baucom had a job to do. His mission: Protect American oil interests in the Persian Gulf. Even with the backdrop of peace, Baucom understood this was a costly endeavor. While the price of military intervention is often measured in American lives, in this case it …

There has never been a better time to install solar energy products in your home or business. The Federal government and many state governments are offering outstanding rebates to help offset the costs associated with purchasing and installing solar energy products. This is an effort to boost the use of solar energy throughout the United States because it is a clean and renewable energy source that is 100% environmentally friendly. These rebates have some stipulations, and at Solar Energy, we will be happy to explain what is needed to qualify.

There are two primary sources of funding for solar systems - State and Federal governments:

State Rebate: The State of Illinois offers a 30% rebate (capped at $50,000) to help Illinois Residents pay the costs of installing solar energy products in their homes. The funds are typically allocated on a first come first serve basis until the budget has been spent. Home owners are eligible for a rebate for both a solar thermal and solar electric system. This program is legislated into law until 2016.

Federal Tax Credit: Effective January 1, 2009 the IRS extended tax credits for solar thermal and solar electric systems (PV). Both are eligible for a 30% uncapped Federal Tax Credit. This program is legislated into law until 2015.

There are several possible funding sources available for commercial systems including state grants and significant Federal Tax Credits. These programs are as follows:

State Grants: The State of Illinois has historically offered grant programs providing up to 30% of the cost of a solar system (capped at $250,000). These are often annual programs and we are awaiting an announcement for 2010-2011 grant cycle including application rules and requirements.

Federal Tax Credit: Effective January 1, 2009, the IRS allows a 30% Federal Tax Deduction for both solar thermal and solar electric systems. These credits can be deferred if you are unable to take advantage of them in the year you purchased your system.

BP Solar is a key division of BP's Alternative Energy business. With over 2200 employees, this global company is focused on using the sun's energy to create solar power for electricity. They are focusing on cleaner, newer technology sources to help conserve the natural resources of the earth.

With manufacturing facilities in China, the United State, India, and Spain, BP Solar has become one of the largest solar companies in the world. They design, develop, manufacture, and market many different solar electric systems for governments, businesses, and homeowners. They strive to build only the very best solar products available today.

Solar Renewable Energy Certificates (SRECs)

SREC's are a form of Renewable Energy Certificate or "Green tag". SRECs exist in states that have Renewable Portfolio Standard (RPS) legislation with specific requirements for solar energy, usually referred to as a "solar carve-out". SRECs represent the environmental attributes from a solar facility, and are produced each time a solar system produces one megawatt-hour (MWh) of production. The additional income received from selling SRECs increases the economic value of a solar investment and assists with the financability of solar technology. In conjunction with state and federal incentives, solar system owners can recover their investment in solar by selling their SRECs through spot market sales or long-term sales, both described below.

The Illinois Solar Energy Association offers the Renewable Energy Credit Aggregation Program (RECAP) to Illinois solar photovoltaic (pv) system owners, providing them with an opportunity to receive payment for their solar Renewable Energy Credits (SRECs). Before the RECAP program was implemented, only large energy producers had the ability to sell their SRECs. This program was created in 2008 to provide an additional revenue stream for small PV system owners (up to 10Kw) and to support Illinois solar development. RECAP is an annual program and requires a yearly application. Applications are accepted on a first come, first served basis and will be closed when the cap (160 SRECs) is met. You must be able to report quarterly solar energy generation in order to participate. ISEA will be paying $200 per each 2011 SREC approved for the RECAP, a $135 increase from the 2009 SREC price of $65.

For more information please visit: http://www.illinoissolar.org/RECAP

Illinois solar generators may also be eligible to sell their generated SREC's in the Pennsylvania and Washington, DC SREC markets where prices are as high as $350 an SREC / MWh. In particular, facilities sited in the Commonwealth Edison territory in Northern Illinois fall within the PJM region and are eligible for both PA and DC. This is very relevant to customers sited in Chicago and the surrounding area.

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