Financial Incentives

Achieving energy independence has never been easier than with Solect's streamlined approach to deploying renewable solar energy systems. Property owners can achieve a 2-5 year simple payback taking advantage of financial incentives available at the federal and state level and then benefit from "free" electricity for the next 15 - 20 years!  Or take advantage of a Solect PPA with no upfront costs and begin saving on your monthly electric bill and gain Green Marketing advantages for your business.

Incentives at the federal, state and local level enable customers to reduce the cost of going solar by as much as 50%. Typically, these results are achieved through a mix of government tax incentives, Solar Renewable Energy Certificates (SREC) and electric cost avoidance.

Government Subsidies

The government helps subsidize part of the cost of installation of the system (federal and state tax incentives)

With investment subsidies, the financial burden is decreased as federal tax credits and accelerated depreciation methods bring down the costs of solar installation leading to near grid parity in overall expenses. Current incentives at the federal level are:

  • A 30% Income Tax Credit (ITC) of the system price for newly deployed systems through 2016.
  • For 2010, the ITC can be converted into a cash grant upon deployment of the system.
  • A five (5) year accelerated depreciation incentive (MACRS) to help further business investment.