SOLAR Rebates & Tax Incentives

You can expect to get back 50% – 75% of your money back from tax credits and utility rebates on a solar installation and energy efficiency upgrades.

Government and Utility Renewable Energy Incentives

There are many incentives available to encourage business owners to invest in renewable energy. These incentives come from federal, state, and local governments, as well as utilities. Incentives vary by state and utility program. These programs are designed to reward early investors of solar power. We’ll even file the required utility documents for you. These incentives enable your investment in solar to be profitable. The cost of buying your electricity from a utility supplier will never go down. Produce your own power, lock down your cost, and get returns on your dollar that is second to none. Arizona Solar Pros can help you determine which incentives are available for you. Here’s an informative authority further explaining the information below: www.dsireusa.org

Federal 30% Tax Credit. 

The Energy Improvement and Extension Act of 2008 extended the solar tax credit until December 31, 2016. In February 2009, The American Recovery and Reinvestment Act of 2009 removed the maximum credit amount for all eligible technologies. You now get a 30% Federal Tax Credit with no cap.

Federal 30% Grant 

The American Recovery and Reinvestment Act of 2009, H.R.1, included a Federal Grant for commercial solar systems. For 2009 and 2010 projects, solar projects that are eligible for depreciation or amortization (typically those owned by corporate tax filers) can receive a 30% upfront cash grant in lieu of the 30% tax credit. The Treasury Department administers the solar grant program and is required to pay out each solar grant within 60 days of the receipt of each application [not subject to federal tax [Section 1104]. The treasury grant can be assigned. Projects must be completed by 2016, but must be started in 2010.

Utility Rebates  

Rebates from utilities pay for as much as 60% of the cost of the system. Add in tax breaks, and that number can be as much as 85%. Rebates come in various forms depending on the utility company. Arizona Solar Pros can help you determine what is available for you, and then apply for the rebates.

Federal Modified Accelerated Cost Recovery System (MACRS) 

Under the Modified Accelerated Cost-Recovery System (MACRS), 26 USC § 168, businesses can recover investments in solar property through depreciation deductions. The MACRS establishes a set of class lives for various types of property, ranging from three to 50 years, over which the property may be depreciated. The current MACRS lifetime class is five years. The depreciation cost basis is 85% of the cost of the system, or the system cost less ½ of the 30% federal tax credit or grant.

Section 179 Deduction and Bonus Depreciation 

The ‘Hiring Incentives to Restore Employment Act’ of 2010 passed on a bipartisan Senate vote of 68-29 extending the enhanced Section 179 deductions of 2008 / 2009 into 2010. Businesses can now write-off up to $250,000 of qualified property during the 2010 tax year – subject to a phase-out if a business has capital expenditures exceeding $800,000. Please Note – The HIRE Act does not extend the 50% bonus depreciation that was available in the 2009 tax year. (The expired incentive is pending further legislation as the House approved an extension but the Senate has not.)

In conclusion, Arizona Solar Pros will work with your accountant or finance department. We can also help you find a financing solution that will meet your cash flow requirements. In most cases, we can find a solution that is net cash flow positive for the length of the loan or lease. This is an unprecedented opportunity that will pay for your electricity needs for decades.
Here are some websites you can visit to learn more about Arizona Solar Pros, CentroSolar, Rebates, Tax Incentives and Credits and Solar Power in general.

(APS)

http://www.aps.com/main/green/choice/choice_66.html

(SRP)
www.srpnet.com/environment/earthwise/solar/default.aspx

(Florida Solar Energy Center)
www.fsec.ucf.edu/en/

(Data Base of State Incentives for Renewables & Efficiency)
www.dsireusa.org