Wednesday, November 02, 2005

Solar energy: financial rebates and incentives

Renewable energy rebates and incentives are currently available in many states to help reduce the price of your system.

Save up to 70% of the purchase price with state buy-down programs
State sponsored capital subsidies, or 'buy-down' programs may also be available in your area. For example, the California Energy Commission is now offering a rebate of $2,800 per kilowatt, or up to almost 40% off the purchase price. New Jersey offers up to 70% off the purchase of a residential system.
California's Emerging Renewables Rebate Program
New Jersey’s Clean Energy Program
Long Island, New York's Solar Pioneer Program

Deduct system costs with tax credits and exemptions
Several government programs offer income, property and sales tax credits and exemptions for the purchase of residential solar energy systems. For example, the State of California currently offers a one-time income tax credit for 7.5% of your portion of the system cost.

Replace your most expensive electricity
Many utilities have or are moving to tiered pricing structures - the more you use, the more you are charged for each kWh. If your utility has tiered rates, a BP Solar Home Solution® can offer additional cost savings. By decreasing the amount of electricity you purchase from your utility, you could fall into a lower pricing tier. Any electricity you purchase from your utility is therefore purchased at a lower rate.

Find out what solar rebates and incentives your state offers:
Database of State Incentives for Renewable Energy


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