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State Tax Credits  Start with the DSIRE website above by clicking on their Logo and then just click on your state. This site gives most of the information you will need. Utah Renewable Energy Tax Credit
Overview of procedures for filing for your 2006 Utah Tax Credits
Tax Credits were reauthorized for 2007, they consist of the following:
* For residential systems, tax credits of 25% of costs for a renewable energy system in a residence or residential unit, with a maximum credit for residence of $2,000.
* For commercial systems, tax credits of 10% of costs for a renewable energy system in a commercial building or structure, with a maximum credit of $50,000.
* Eligible systems for residential buildings are active solar, passive solar, biomass, direct-use geothermal, geothermal heat-pump system, wind, or hydroenergy.
* Eligible systems for commercial buildings and structures are active solar, passive solar, geothermal electricity, direct-use geothermal, geothermal heat-pump, wind, hydroenergy, or biomass. These provisions apply to both corporate and individual income tax filers.
SB 223 also makes some significant changes to the tax credit program:
* Expands the list of eligible technology types for residential systems. The new technologies are direct use geothermal, ground source heat pumps and biomass. (Note that eligible biomass systems must either produce fuel or electricity. Biomass heating systems are not eligible.)
* Expands the list of eligible technology types for commercial systems. The new technologies are geothermal electricity, direct-use geothermal, and ground source heat-pumps.
* Creates a production tax credit for commercial wind, biomass, and geothermal systems that produce electricity and have production capacities of 660 kilowatts or greater. The credit amount is 0.35 cents per kilowatt hour of electricity produced during the first four years that a system is in operation. There is no maximum credit amount.
* For using a percentage of costs to calculate credits, there is new language providing that costs claimed must be reasonable and giving SEP the authority to define reasonable costs through rules.
* The program is now permanent. (Under prior authorizing legislation, the program expired after five years.)
Note that these provisions apply only to systems installed on or after January 1, 2007 | Federal Now available: IRS Form 5695 & Instructions: Residential Energy Credits for Tax Year 2006
The Energy Policy Act of 2005 (H.R. 6, Sec. 1335) established a 30% tax credit up to $2,000 for the purchase and installation of residential solar electric and solar water heating property. An individual can take both a 30% credit up to the $2,000 cap for a photovoltaics system and a 30% credit up to a separate $2,000 cap for a solar water heating system. A 30% tax credit up to $500 per 0.5 kilowatt (kW) is also available for fuels cells. Initially scheduled to expire at the end of 2007, the tax credits were extended through December 31, 2008, by Section 206 of the Tax Relief and Health Care Act of 2006 (H.R. 6111).
Solar water heating property must be certified for performance by the Solar Rating Certification Corporation (SRCC) or a comparable entity endorsed by the government of the state in which the property is installed. Note that the tax credit does not apply to solar water heating property for swimming pools or hot tubs.
The credit is calculated based on the individual’s expenditures excluding subsidized energy financing, which is defined as "financing provided under a Federal, State, or local program a principal purpose of which is to provide subsidized financing for projects designed to conserve or produce energy." Consumers who receive other incentives are advised to consult with a tax professional regarding how to calculate this federal tax credit.
If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year. Expenditures include labor costs for the onsite preparation, assembly, or original installation of the system and for piping or wiring to interconnect the system to the dwelling.
To be eligible for the credit, a system must be "placed in service" or activated on or after January 1, 2006, and on or before December 31, 2008. Expenditures with respect to the equipment are treated as made when the installation is completed. If the installation is on a new home, the "placed in service" date is the date of occupancy by the homeowner | Utility Rebates
St George:
$2000 per installed kW
- Limit of 3kW for residential customers (up to $6000)
- Limit of 10kW for commercial customers (up to $20,000)
St George Net Metering policy
"Net Metering" means a system of metering electricity in which the City:
1. Credits a customer-generator at the full retail rate for each kilowatt-hour
produced by a class I renewable energy system installed on the customer
generator’s side of the electric revenue meter, up to the total amount of
electricity used by that customer during an annualized period;
2. Compensates the customer-generator at the end of the monthly billing
period for any remaining credits, at a rate equal to the supplier/provider's
avoided cost of wholesale power.
St. George Energy Services Department's net metering policy St. George Net Metering Policy
Rocky Mountain Power
Rocky Mountain Power has finally developed a rebate plan. Rocky Mountain Power’s net metering program Net Metering Program
Nevada Rebate Program Nevada does offer a rebate for installed grid-connected, net metering systems, HOWEVER…..
The rebate program known as SolarGenerations is mandated by Nevada legislation (AB 431 and AB3) and is limited to grid connected customers of Sierra Pacific Power and Nevada Power. (Sorry Mesquite, et al, you are serviced by Overton Power, which incidentally does not have a net metering program****).
There is also a yearly cap on the number of systems approved to receive the rebate. The current year’s quota was filled within 24 hours of the window opening. The next opening is 01 August 2007 for installation to occur summer 2008– summer 2009. The rebate is $2.50 per watt.
If you have questions on SolarGenerations please see their website at http://www.solargenerations.com and plan ahead.
****Nevada only requires investor owned utilities to facilitate net metering. That means areas serviced by cooperatives, like Mesquite probably do not have and are not required to allow net metering. |
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