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AGRICULTURAL TAX INCENTIVES, GRANTS AND OTHER SAVINGS
Page last updated April 23, 2013)
 
Disclaimer:  Regardless of what you read here or anywhere else, it is essential that you consult with a knowledgeable CPA who is specifically versed with the applicable tax laws to verify what incentives will apply directly to your project and/or farm.  Creative Solar USA is not responsible for any use or mis-use of the information provided below.  Creative Solar USA, Inc. disclaims all warranties, express or implied, with regard to the following, which is provided for informational purposes only.
 
 

Solar projects are encouraged by federal and state governments that offer incentives designed to make renewable energy systems more affordable and sustainably drive long-term renewable energy investment. Federal tax credits, grants and state incentives coupled together with utility programs reduce costs, provide tax benefits, and generate monthly savings thereby removing much of the risk associated with typical capital improvements.

The following is a brief summary of key incentives available. Please contact us for more information about additional state and utility programs available in your area.

30% Federal Tax Credit
Federal Energy Investment Tax Credit

  • Eligible technologies: solar PV, solar hot water, wind, biomass and system components among others
  • Applicable Sectors: Residential, commercial, and industrial
  • Maximum Incentive: 30% of project cost
  • Expiration Date: December 31, 2016

25% Grant
USDA REAP Grant

This grant is from the USDA and is not to be confused with the federal tax grant referenced above.  With the USDA REAP (Renewable Energy for America Program), applicable sectors may receive up to 25% of the project cost through this grant.
 
Furthermore, there's a REAP Loan program which may be utilized in conjunction of the grant.  However, the combination of the loan program with the grant may not exceed more than 75% of the project's cost.
 
Lastly, eligibility varies and is based initially on the project location.  Contact your USDA office to find out if your address qualifies for either the grant and/or the loan program.
 
Applicable sectors include small business, schools, local government, state government, rural electric cooperative, agricultural and public power entities.

35% State Tax Credit - Georgia and North Carolina
(Call us to find out what incentives are available in your local area.)

  • Eligible technologies: solar PV, solar hot water, wind, biomass and system components among others
  • Applicable Sectors: residential, commercial, and industrial
  • Maximum Incentive: 35%* of project costs; caps apply
  • Expiration date: December, 2014 in Georgia  Georgia's state tax credit for clean energy has been utilized through the year 2014.  However, GEFA is still accepting and processing applications. Then, they are wait listing these applicants (in line based upon the postmark) for credit allocations in a coming year.  Please check back for updates or call us for the latest information.

5ys Accelerated Depreciation
MACRS (Modified Accelerated Cost Recovery System)

  • Eligible technologies: solar PV, solar hot water, wind, biomass and system components among others
  • Applicable Sectors: commercial and industrial
  • Maximum Incentive: 50% bonus available 2013
  • Expiration date: December, 2013
  • Actual amounts vary upon taxable rate.

Utility Incentives
Depending on your utility, you may be eligible to receive a rebate of $300-$1,000/kW DC installed. Utilities may also offer to buy your NEG (net excess generation) at a premium rate in exchange for the RECs (renewable energy credits) your system produces.

Incentive programs vary from state-to-state and utility-to-utility. They often change in scope and availability.  So, staying on top of the qualifications and requirements for each incentive is very important. As part of our comprehensive project approach, Creative Solar USA helps you identify available incentives in your area.  This way, you can see just how affordable your system will be. Contact Us to learn more.

 
Creative Solar USA does not warrant or guarantee rebates, grants, credits, and awards. We strongly recommend that you contact an accountant or tax attorney for any specific financial advice.