Tag: Solar Incentives
Standard Solar Offers 12-Month Bridge Loan As Added Incentive To Go Solar Now
Go Solar Payment Program Can Ease The Wait for Federal, State and Any Local Incentive Credits or Payments
GAITHERSBURG, Md., March 3 — Homeowners in Maryland and the District of Columbia now have the option of purchasing solar electric systems through Standard Solar’s new “Go Solar Payment Program.” The program features no-interest financing for 12 months which can serve as a loan to help bridge the time between when a system is paid for and the receipt of payments for government incentives or tax credits.
The “Go Solar Payment Program” makes as much as $45,000 available to qualifying homeowners. The government incentives available to homeowners and businesses include, but are not limited to, the new 30% Federal Investment Tax Credit, Maryland’s solar grant, local property tax credits in certain Maryland counties and Washington, DC’s new Renewable Energy Incentive Program.
“For homeowners who repay the loan within 12 months, this essentially is free money,” said Standard Solar President and Chief Executive Officer, Anthony Clifford.
Homeowners apply for 12-month same-as-cash through the “Go Solar Payment Program” by phone and get a credit decision in about 10 minutes. The paperless application process is quick, easy, and secure. To get started, contact a Standard Solar consultant at 1-888-474-3843 or via email at email@example.com. Homeowners interested in speeding up the process can jump-start the assessment of their home’s suitability for solar by filling out an evaluation at http://www.standardsolar.com/Solar-Evaluation.aspx .
New solar incentives, combined with the 12-Month Same-As-Cash payment option, present an unprecedented value for homeowners. “For homeowners who want to save money, reduce their reliance on the ever-increasing cost of utility-supplied electricity, lower their impact on the environment and help relieve stress on the regional power grid, there simply has never been a better time to go solar,” Clifford said.
Solar systems are especially helpful in taking stress off the network of regional transmission lines that funnel electricity throughout the region. As those lines are used more heavily, the risks to residents of Maryland and DC of brown-outs — even blackouts — grows.
“Some homeowners,” Clifford added, “are asking us why it doesn’t make sense to draw on their home equity lines of credit to finance their solar systems. Our response to them is this: that home equity line is charging you interest. The “Go Solar Payment Program” offers no interest (if paid in full during the same-as-cash period) and a payment deferral of 12 months. Prior to the expiration of the same-as-cash period, the homeowner can always use their home equity credit line to pay-off the loan.”
Information about the Renewable Energy Incentive Program in the District of Columbia launched February 23, 2009 is available at www.standardsolar.com/dc. There District homeowners can see how the “GreenDC” incentives, together with a 30% Federal tax credit, can pay for more than half of the up-front system cost. Once energy savings and the sale of Solar Renewable Energy Credits are taken into account every year going forward, the time needed to recover that net investment on a typical 3-kilowatt system approaches four years.
In states requiring that a certain percentage of electricity be generated from renewable resources such as solar and wind, homes and businesses that generate a portion of their own electricity earn Solar Renewable Energy Credits.
A Solar Renewable Energy Credit certificate is earned for each 1,000 kilowatt hours of electricity generated annually and can be worth $300 or more to homeowners. A typical 3 kilowatt system can be expected to generate more than 3,500 kilowatt hours of electricity every year. The sale of the Solar Renewable Energy Credits would earn homeowners an average of at least $1,000 annually.
Please click on this link (http://capwiz.com/re-action/go/hr5351house) to send a quick email to your Congressman telling them to support U.S. House Resolution 5351. We strongly support this vital Renewable Energy Legislation.
Standard Solar Inc.
Making Solar Standard™
H.R. 5351 Summary
2/12/2008–Introduced. Renewable Energy and Energy Conservation Tax Act of 2008- Amends Internal Revenue Code provisions relating to renewable energy sources and energy conservation. Extends:
(1) the tax credit for production of electricity from renewable resources through 2011;
(2) the energy tax credit for solar energy and fuel cell property through 2016;
(3) the special rule for treatment of gain from electronic transmission transactions by certain electric utilities through 2009;
(4) the tax credit for residential energy efficient property expenditures through 2014;
(5) the tax credit for alternative fuel vehicle refueling property expenditures through 2010;
(6) the tax credit for biodiesel and renewable diesel used as fuel through 2010;
(7) the tax credit for nonbusiness energy property expenditures through 2009; and
(8) the tax deduction for energy efficient commercial buildings through 2013.
Allows new tax credits for:
(1) investment in new clean renewable energy bonds and qualified energy conservation bonds; and
(2) the production of plug-in hybrid motor vehicles, cellulosic alcohol fuel, and electricity from marine and hydrokinetic renewable energy sources.
Revises the definition of “passenger automobile” for purposes of the limitation on depreciation deductions. Allows a tax exclusion for bicycle commuting reimbursements.
Revises certain tax incentives for investment in the New York Liberty Zone. Revises tax credit amounts for certain energy efficient household appliances produced after 2007.
Allows a five-year recovery period for the depreciation of qualified energy management devices.
Places limits on the tax deduction for income attributable to the domestic production of oil, natural gas, and any related products.
Revises tax rules relating to foreign oil and gas extraction income and foreign produced fuel used or sold outside the United States.
For the third time in as many months, Congress is attempting to pass a bill that will extend tax credits to individuals and businesses investing in renewable energy. So why the excitement?
This time, it could be different. The stumbling block that tripped up the first two attempts—funding the credits by closing tax loopholes enjoyed by the oil & gas industry—may be removed this time around, meaning that congresspersons who voted against the measure twice before may vote differently this time, given enough encouragement from their constituents.
For more details, and to take action on behalf of clean energy, TAKE ACTION
Click the following link and send an email to your Congressman:
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Thank You for Supporting Clean Solar Energy!
Solar Nation Executive Campaigner”