Solar Finance, Solar Grants, Federal Tax Credits, Solar PPA, Explained…

Solar Loans: The FHA’s PowerSaver Program: U.S. Department of Housing and Urban Development
Multi-family Housing Loan: U.S. Department of Agriculture
Rural Utilities Service Electric Program: U.S. Department of Agriculture

Solar Grants: Green Retrofit Grants: U.S. Department of Housing and Urban Development
High Energy Cost Grants: U.S. Department of Agriculture
Renewable Energy Grants: U.S. Department of the Treasury
Tribal Energy Program: U.S. Department of Energy
REAP: Grants U.S. Department of Agriculture

Investment Tax Credit: (ITC), also known as the federal solar tax credit, allows you to deduct 26% percent of the cost of installing a solar energy system from your federal taxes. The (ITC) applies to both residential and commercial systems, and there is no cap on its value.

Solar Renewable Energy Certificates (SRECs) are a solar incentive that allows homeowners to sell certificates for energy to their utility. A homeowner earns one SREC for every 1000 kilowatt hours (kWhs) produced by their solar panel system. An SREC can be worth over $300 in certain states.

Solar Power Purchase Agreement (SPPA): A Solar Power Purchase Agreement (SPPA) is a financial arrangement in which a third-party developer owns, operates, and maintains the photovoltaic (PV) system, and a host customer agrees to site the system on its property and purchases the system’s electric output from the solar services provider for a predetermined period. This financial arrangement allows the host customer to receive stable and often low-cost electricity, while the solar services provider or another party acquires valuable financial benefits, such as tax credits and income generated from the sale of electricity.

With this business model, the host customer buys the services produced by the PV system rather than the PV system itself. This framework is referred to as the “solar services” model, and the developers who offer SPPAs are known as solar services providers. SPPA arrangements enable the host customer to avoid many of the traditional barriers to the installation of on-site solar systems: high upfront capital costs, system performance risk, and complex design and permitting processes. In addition, SPPA arrangements can be cash flow positive for the host customer from the day the system is commissioned.

Green Energy Program Incentives Effective July 1, 2020
Photovoltaic Grants
Residential Maximum grant $5,000 Non-residential $25,000 Non-profit $41,250
Residential grant and Non-residential 0 to 5,000 watts $0.60/watt Non-profit $1.50 /watt
Residential grant and Non-residential 5,001 to 50,000 watts $0.60/watt Non-profit $.75 /watt
PPA/lease No incentive
Notes: These incentives apply to Delmarva Power and Light (DPL) customers only.
Photovoltaic grants are no longer limited to systems 50 kW and under. Grant applications are evaluated by site address, not electric meter.
Incentives for non-residential projects with an installed capacity below 6,000 watts will be prorated at $0.50 per watt.
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KW Solar Solutions, Inc

With 16 years in Renewable energy will do our best to explain what you qualify for in your area and how all the grants, loans, investment tax credits work to make going solar easy and affordable. We care and want to help people and businesses do the right thing by going green with their energy consumption needs. 

KW SOLAR SOLUTIONS INC
94 Childs Road
Elkton, MD 21921

CALL US
Toll Free: 877-42SOLAR
Phone: 302-838-8400
Fax: 302-261-6671
Email: info@KWsolar.net

Energize Delaware Sustainable Energy Utility Energize Delaware Solar Loan program KW Solar Solutions Inc Participating Installer for Solar PV Energy Systems

 

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