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Incentives
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Solar Tax Incentives
Federal
A federal "energy credit" allows home and business owners to take a 30% tax credit for renewable energy equipment (solar electric, solar thermal and wind powered systems). In 2008, Congress extended this credit through the end of 2016.
In addition, there is an accelerated 5-year depreciation schedule that allows businesses to write 100% of a system's cost off their taxable income over the first five years.
State and Local
The states of Pennsylvania, New Jersey and others, offer a rebate or similar payment based on the generating capacity of the system installed. Other states offer various rebates and incentives to homeowners to lower the installed cost of a utility. Go to www.dsireusa.org for the latest comprehensive information about incentives in your area.
Renewable Energy Credits (RECS)
Renewable Energy Credits (RECS) are energy commodities that represent 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource. You can earn these RECS by generating your own power with a solar energy system. You can then sell these earned RECS just like a commodity.