will vary from state to state and it is important to find out if
you are eligible to receive these savings. Whether you are
an owner of a commercial building, a school or government
entity or home owner these incentives can offer you great
savings and make owning a renewable energy system more
accessible and affordable to you.
on your building is a long term, low risk, and high return
way to invest your money. It can offer an initial annual
return on investment of 5-11%. This is very competitive with
other higher risk investments such as stocks and bonds. As
utility rates increase the annual return also increases. As
well as increasing the overall value of your home or
building.
electric bill. Currently more than 30 states have net
metering laws which dictate that the utility companies must
allow their electric meter to run backwards in the event that
your system produces more electricity than you use.
Meaning that any excess electricity produced by your
renewable energy system that can be fed into the utility grid
will result in a credit with the utility company.
Below is a brief description of the tax incentives available and the ways in which we wil help guide you through the process.
Federal – ITC
Investment tax credit: Owners of renewable energy systems can take a tax credit of up to 30% of the installed system cost after installing the system. Business and residential customers are eligible for this incentive and there is no monetary cap on the credit.
Permits: New Generation prepares all permit applications and files and expedites the paperwork through the process. Our experience enables us to obtain quick approvals.
Incentives: Rebate and other incentive applications for renewable energy systems are processed by the state and its Board of Public Utilities, or equivalent body. New Generation ensures maximum value from incentives within the guidelines of each state and the parameters of the project. Incentives are provided directly to the customer in the case of a system purchase, or indirectly via lower electricity costs in the case of a power purchase agreement.
Tax Credits: Tax Credits and incentives for renewable energy systems are determined at the state and federal level. Depending on the type of contract, New Generation directly handles or assists in the obtaining of tax credits.