Federal Incentives

The facts…

• Everyone that installs solar products is entitled to a Federal Tax Credit!
• Everyone of our products (except pool heaters) is eligible for the Federal Tax Credit!

The tax credits differ depending on the product:

The photovoltaic systems qualify for a 30 % tax credit on the on the cost of the entire system. This is an uncapped amount, but you must check your personal tax liability to make sure you can maximize this credit.

The solar hot water heaters qualify for a full 30% tax credit off the cost of the system. This tax credit is also uncapped until the end of 2010 at which time the $2,000 cap may be put back in place.

The AtticBreeze solar attic fans, recycled cellulose insulation, and ThermaShield radiant barrier are all Energy-Star Rated and qualify for a 30% tax credit up to a maximum of $1500.

State Incentives

You may have heard that there are not a lot of state incentives in place for residents of Tennessee. This could not be farther from the truth!  

Although we have few monetary incentives on the “front end”, we do have one of the more favorable “back end” incentives thanks to your local Energy Governing Authority, the TVA.  What makes this buy-back program somewhat unique is the “dual metering” system as opposed to the “net metering” system.  This means that the Tennessee Valley Authority and your local electric provider will buy back 100% of the power that your solar panels produce.

Take note here -->           They are not just buying back the excess power that you don’t use, they are buying back ALL of the power regardless of how much you use.  But here’s where it gets really good.  They are buying that power back at a 12¢ per kilowatt hour premium over and above what they charge you per kilowatt hour. On top of that, they give you a $1,000 free money to help offset the cost of installation.

Here are the details straight from the TVA’s website:

How the program works

• A renewable generation system is installed by a residential, commercial, or industrial power customer served by a participating power company of TVA power Eligible resources include solar, wind, micro-hydro, and biomass.
• TVA will purchase all of the green energy output at a rate of 12 cents per kilowatt-hour for solar and 3 cents per kilowatt-hour for other renewable generation as a premium payment above the retail rate and any fuel cost adjustments.

For example, if you pay your power company 10¢ per kWh for the electricity you use to your power your home each month, then TVA will pay you 22¢ (10¢ + a 12¢ guaranteed premium) per kWh for 100% of the green energy generated from your solar photovoltaic system.

Moreover, a 2 kW solar photovoltaic (PV) installation in the Valley averages 200 kWh per month or roughly $44 per month.  Generation Credit: 200kWh x $0.22/kWh (average retail rate of $0.10 + solar premium $0.12) = $44

• All new Generation Partners participants will receive a $1,000 incentive to help offset start-up costs.
• The participating power company will provide monthly statements showing the energy used and any credit due.  Power bills will be reconciled either monthly or annually, at the discretion of the participating power company. Energy consumed at the home or business, whether it is generated at the site or delivered over the local power distribution system, is billed at the standard rate.
• The customer is guaranteed payments for 10 years from the start of the agreement with the local power company.
• Customers should contact their local power company to apply for participation in the program prior to purchasing a renewable generation system.

Green Power Switch (GPS) Generation Partners support the environment by using renewable energy sources, and they reduce their monthly energy bills through the revenue they receive from the sale of the green power.

You do not have to subscribe to the Green Power Switch program to participate in GPS Generation Partners, nor does the power distributor have to be a participant in Green Power Switch.

GRANTS