Financial incentives have never been better for solar. A combination of tax credits and grants adds up to a significant incentive for the homeowner to finally realize the dream of having solar energy.
Renewable Energy Credits (RECs)
Did you know that utility companies are required to generate a certain percentage of their power through renewable means? This is called the Renewable Portfolio Standard (RPS). Utilities meet this requirement by purchasing Renewable Energy Credits (RECs) through aggregators and private solar electric system owners. A system on your home will produce a certain number of RECs per year which can be traded on the open market to help offset the costs of owning that system. In Maryland, the mechanism for selling RECs on the open market is currently being created by the Public Service Commission. Watch this site for updates.
Financial Incentives For
Protect yourself from rising energy costs and blackouts
Benefit from government grants and tax credits
Use the net-metering law to cut down your “out-of-pocket” utility costs
Minimize maintenance costs
Decrease your carbon footprint and help protect the environment and global warming
Thousands of homeowners reap the advantages of solar electric systems by reducing their current and future electric costs.
You’re already paying for electricity, but what tangible benefits do you have to show for it? Become an owner, not a renter, and invest in your own green power plant.
Gain Independence from Utility Companies
In the last 3 to 4 years, the highest tier residential electric rates jumped 30-60% ! Most experts agree that electric rates will continue to climb faster than inflation. As your own energy provider, you lock in power at a fraction of the current charges and prevent future rate hikes. A solar power system will allow you to free yourself from the utility company and the instability of global energy markets. Following is a Pepco electricity rate history in the state of MD:
Solar Power is Cheaper than Utility Power
Installing a solar power system is equivalent to prepaying for 40 years of power at a fraction of the cost you currently pay. The cost/unit of energy you pay now is higher than what you would pay with solar. As rates increase in the future, this difference will increase, leading to even more savings over the life of a solar energy system.
The Government Pays for a Large Portion of the Cost
Federal tax credit of 30% of the “Installed System Cost” for both Residential & Commercial Installations.
Maryland provides a grant of up to $10,000.
District of Columbia is amending its renewable energy program to increase incentives.
More about Government Incentive Programs: www.dsireusa.org
Reduce your carbon footprint, preserve earth’s fossil fuels, reduce air pollution, and help mitigate global warming. Generating electricity from solar energy reduces your consumption of fossil fuels, which decreases pollution and greenhouse gas emission. By switching to solar power, you will combat global warming and reduce our nation’s dependence of foreign energy sources. Even a small solar electric system has a significant environmental impact.
For example, a 3.0 kW solar system provides the following environmental benefits over 25 years:
Your New, Lower Carbon Footprint
Your solar system will reduce Green House Gas emissions by 162 tons of CO2 (Over 30 years).
Equivalent CO2 Reductions
Small Car: 450,508 miles
Medium Car: 234,364 miles
SUV: 144,140 miles
Air Miles: 252,371 miles
Trees Planted: 4,956 trees planted
CO2 from Trash & Waste: 234 persons