August, 2009
A quick look back...
In July 2008, we were experiencing $4.00+ per gallon gasoline and people were locking in home heating oil for the winter months expecting the prices to continue to rise. Ironically, we saw historic low prices for fuel instead; who would have imagined? Anyone have a crystal ball for this winter and beyond?
Fortunately, some good news...
If you have been thinking of a renewable energy system, I doubt you will see a better time than now!
As part of the economic crisis and bail out, the federal tax incentives were extended and expanded to 2016 and then in February, 2009 the caps were removed allowing you to take a full 30% of the installed cost for solar PV. While the incentives have been extended until 2016, my recommendation is to act now before future budgets and trillion dollar spending forces legislation to expire them sooner.
Additionally, if you live in Pennsylvania, there are now additional incentives available as a result of Governor Rendell's Energy Independence program. Control Alt Energy, LLC is a state approved PV installer under the program as such, we are able to assist you with obtaining a state rebate, but you need to hurry as the rebates will be reduced over time per the following:
Sunshine Program applicants will qualify for funding at the rebate levels provided below, not to exceed 35 percent of the project costs.
Funding levels will automatically decline according to the following pre-determined steps. The department is currently reimbursing in accordance with the highlighted incentive levels listed below:
Residential PV Rebates
Step #
Megawatt (MW) in Step
Rebate Amount ($/Watt)
1
10
2.25
2
10
1.75
3
10
1.25
4
10
0.75
Small Business PV Rebates
Step #
Megawatt in Step
3-10 kW Rebate Amount ($/Watt)
10-100 kW Rebate Amount ($/Watt)
100-200kW Rebate Amount ($/Watt)
1
5
2.25
2.00
1.75
2
5
1.75
1.50
1.25
3
5
1.25
1.00
0.75
4
N/A
(Current step limited to $4 million in incentives)
0.75
0.50
0.25
Residential and Small Business Solar Thermal Rebates
Step #
Number of Systems in Step
Rebate Amount
1
1,500
25%
2
1,500
20%
3
1,500
15%
4
1,500
10%
Residential applicants that have a household income of less than 60 percent of the state median income, as defined by Pennsylvania’s Department of Public Welfare, will be eligible for the maximum rebate level permitted under the Act (35 percent). Low-income applicants must verify that their income is 60 percent of the state median income. Please click here for the gross income limits, based on household size for tax reporting purposes. Applicants who apply for low income solar assistance will be required to report and verify all earned and unearned income to determine eligibility. Sources of income verification include but are not limited to: tax returns (Federal or State); employer’s statement of past or anticipated earnings; statements documenting income. Verification documents must be included when submitting the solar application package.
What this means to you...
If you are interested in a system to reduce your utility bill there is no better time to act than now. Contact us today for a free site assessment and estimate for your project while federal and state monies are available.
570-754-0053
Control Alt Energy, LLC