Wind System Installation Incentives for Massachusetts and New Hampshire Businesses
All business customers are eligible for the 30 % Federal Investment Tax Credit.
The average business owner saves thousands of Dollars in utility expenses by switching to renewable energy. In addition, business owners can potentially be reimbursed for more of the cost of their system installation by applying for Federal and State Energy Tax Credits and Rebates. To learn more, read on. There are many Federal and State programs that can help save you thousands of Dollars on your installation. The applications for these incentives need to be completed BEFORE the system is installed. Incentives need to be pre-approved based on the system design submitted by your installer. We will walk you through the incentives that you are eligible for and we will do ALL the paperwork to insure that you get the full advantage of all Federal and State tax incentives, rebates, and Renewable energy credits.
Wind System Incentives for Massachusetts Businesses
Commonwealth Wind: Micro Wind Initiative
The Renewable Energy Trust in Massachusetts offers rebates for the design & construction of residential wind energy systems through the Commonwealth Wind: Micro Wind Initiative (formerly Small Renewables Initiative). This initiative provides rebates to homeowners for design & construction of wind turbine projects that are up to 10 kilowatts in size.
Massachusetts Clean Energy Center's (MassCEC) Commonwealth Wind Incentive Program (Commonwealth Wind) helps responsibly-sited wind energy projects of all scales achieve successful and timely installation. Commonwealth Wind has helped move Massachusetts toward Governor Deval Patrick's goal of having 2,000 MW of wind power installed in the state by 2020. Grant funding is available for residential, commercial, industrial, and public facilities that are customers of investor-owned electric distribution utilities or Municipal Light Plant Departments that pay into the Renewable Energy Trust, which is part of MassCEC.
Commonwealth Wind provides funding through the following initiatives:
Micro Wind
The Micro Wind Initiative provides rebates for the installation of wind projects that are located at residential, commercial, industrial, institutional, and public facilities and are less than 100 kilowatts. Eligible systems are supported through a hybrid incentive structure consisting of installation and production rebates.Micro wind systems will be supported through a hybrid rebate structure (capped at $4.00/watt):
Payment 1: will be made upon system installation of a wind turbine, and is awarding $1.25/W based on the rated capacity of the system at 11 m/s (based on manufacturers' supplied power curve).
Payment 2: the Trust will make a $2.00/kWh payment based on the number of kilowatt-hours produced by the system in its first year of operation. Customers will have the option to report production data for the second year of operation, and if production is greater than in year one, the Trust will provide a rebate for the difference.
Community-Scale Wind
The Community-Scale Wind Initiative awards grants for qualifying wind projects with a nameplate capacity greater than or equal to 100 kW. MassCEC provides financial and technical support to wind projects through a competitive feasibility and design & construction grant award process. Public entities may apply for a free site assessment.
Click here for more information http://www.commonwealthsolar.org/
Commercial Wind
The Commercial Wind Initiative helps reduce the early stage risk associated with commercial wind development projects. MassCEC provides funding for feasibility studies and development activities only. The Commercial Wind Initiative will have multiple solicitations each year, depending on available funding. Both the feasibility study grants and development loans require a 25 percent cost share for the funded activities.
For more information visit www.masstech.org/wind.
The State Investment Tax Credit
The Economic Recovery Act of 2009 extended a 30% Investment Tax Credit for the purchase and installation of wind energy systems. This tax credit significantly improves the payback and rate of return on any project.
Accelerated Depreciation
Wind energy systems are eligible for 5 year the Modified Accelerated Cost Recovery System (MACRS). Using this depreciation schedule against a system with a 25+ year engineered life allows more of the depreciation to be taken sooner in the asset life which increases the overall financial return of the project.
Renewable Energy Credits (REC)
A Renewable Energy Credit (REC) is a tradeable certificate that represents the clean energy benefits of electricity generated from a solar electric system. It can be sold or traded separately from the generated power. It greatly enhances the financial value of the project.
State Excise Tax Deduction
Businesses may deduct from net income, for Mass state excise tax purposes, costs incurred from the installation of a renewable energy system. A system that qualifies for this deduction will not be taxed under the tangible measure of the state's corporate excise tax.
Please note: We at Blue Selenium Solar are experts on solar energy systems, not taxes, and we do not provide tax advice; you may want to consult a tax professional.
Wind System Incentives for New Hampshire Businesses
The N.H. State Rebate Program for solar and wind systems, managed by the NH Public Utilities Commission provides rebates of $ 3/Watt DC up to a maximum of $6,000 or 50% of system costs, whichever is less for systems up to 5 kW in size. For more information click here: http://www.puc.nh.gov/Sustainable%20Energy/RenewableEnergyRebatesQAs-residential.htm
Property Tax Incentive
State Rebate Program
Utility Loan Program
Utility Rebate Program
Rules, Regulations & Policies
Net Metering