A major consideration for any renewable project is procuring grants and qualifying for tax credits. When we propose an eligible project we deduct the grant monies directly from your proposal. NYSERDA pays the grant fund directly to us in two payments: 30 days after the equipment arrives at your property and the balance upon the Bi-Directional “net meter” being installed. Tax incentives from NYS and the federal government are received by you with your tax return. Your proposal will clearly show what you can expect to receive in grants and tax incentives as well as the “bottom line”.  Farmers, schools, municipalities and most non-profit organizations can get extra grants as well. NYSERDA's web site is a very helpful tool for this.

A major consideration for any renewable project is procuring grants and qualifying for tax credits. When we propose an eligible project we deduct the grant monies directly from your proposal. NYSERDA pays the grant fund directly to us in two payments: 30 days after the equipment arrives at your property and the balance upon the Bi-Directional “net meter” being installed. Tax incentives from NYS and the federal government are received by you with your tax return. Your proposal will clearly show what you can expect to receive in grants and tax incentives as well as the “bottom line”.Farmers, schools, municipalities and most non-profit organizations can get extra grants as well. NYSERDA's web site is a very helpful tool for this.

 

        http://www.powernaturally.org/default.asp

http://www.dsireusa.org/

  

*New Federal Tax Credits*

New federal legislation effective January 1, 2009 provides tax credits equal to 30% of your expenditure (after grants) for solar PV systems for homes and businesses. There is no limit to the size of the tax credit for solar PV. Homeowners that can not use the entire tax credit in the year the system is installed can carry over the credits to the next tax year.  Businesses and individuals can apply the tax credits against the alternative minimum tax. Previously, tax credits for wind systems were capped at $4,000. Due to the Obama's Stimulus Bill, the cap was lifted and generous 30% tax credits are now also being offered for wind systems. Tax credits are also available for solar heat, geothermal heat and many other renewable energy projects.

 

Financing

If needed, NYSERDA not only gives grants but also helps out with prepaying interest through your local bank or credit union.  New York Energy $mart^SMLoan Fund provides interest rate reductions on loans for energy efficiency projects and renewable technologies. Interest rates for loans can be reduced by 4% for up to 10 years. Please visit the links below for more information.

http://www.nyserda.org/loanfund/default.asp 
 www.cleanpowerfinance.com