Why Invest in Solar Energy?
- PROTECTION AGAINST SOARING ELECTRICITY RATE INCREASES
- Over the ten years ending in 2008, electricity rates increased an average of 7% per year in many states, and much higher rates are anticipated. As a result, savings from using electricity from solar energy will grow significantly over the course of a system’s 25+ year lifetime.
- Solar photovoltaic systems generate electricity for 25 years or more with little maintenance. They produce energy year round, but provide the most electricity at peak sunlight hours in summer months when costs are highest and utilities are at the greatest risk for brown outs and black outs.
- FINANCIAL, STATE AND LOCAL INCENTIVES MAKE SOLAR COST EFFECTIVE
- The Federal government:
- Investments in solar energy are eligible for:
- • 30% Investment Tax Credit (ITC) and the recent Stimulus Act makes this a cash grant until 2010
- • 5-year accelerated depreciation
- In addition to federal tax incentives, many states promote the generation of electricity from renewable resources including direct subsidies, tax benefits, low-interest loans, net metering and simplified interconnection procedures.
- • Direct subsidies or rebates on the cost of installations
- • Additional depreciation benefits
- • Tax incentives or real estate tax rebates
- • Low interest loans
- • Grants for energy surveys and audits
- • Net metering
- • Renewable Energy Credits
- New Jersey and other states are offering solar renewable energy certificates (SRECs) also known as “green tags” from any qualifying source of the generation. SRECs can be sold to a utility or other purchaser at rates up to $0.650/kWh and when combined with federal investment tax credits and five-year accelerated depreciation and other state benefits, now provide the basis for structuring solar energy projects with long-term high value returns.
- Local – cities and counties provide:
- • Tax incentives
- • Economic Development Zone programs
- • Real estate benefits
- A GREEN IMAGE MAKES YOU A RESPONSIBLE COMMUNITY MEMBER
- Participate in reducing the impacts of global warming by replacing energy produced by burning fossil fuels with clean solar energy.
HOW TO MAKE SOLAR ENERGY WORK FOR YOU
- Solar Energy Can Be Acquired Through
- A. Purchase – Consumer Financing
- The consumer pays for the system and takes full advantage of federal, state and local incentives including tax credits and rebates and renewable energy credits which dramatically shortens the payback period. Solar energy projects may be eligible for building improvement loans and federal and state grants.
- B. Lease Options
- The consumer acquires the solar system through a leasing program that eliminates the large capital investment through a financing program. Leases can fund the installed capital cost of a new solar system, matching lease payments to the energy savings and tax benefits generated by your solar system. Depending upon your lease arrangements, you can achieve full ownership at lease end, and gain significant financial savings over the life of the system.
- C. Solar Electricity Power Purchase Agreements (PPAs)
- Through a Power Purchase Agreement (PPA), you can buy the electricity generated by the system for ten years or more, often below the cost you are currently paying, without using any capital to purchase the system itself. Solar Bridge designs, finances, and maintains the system at no cost to the consumer.