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GREEN ENERGY WORKS FOR TAX AND UTILITY INCENTIVES!
Substantial Federal and State tax incentives as well as available utility company rebates can return home and business owners up to 40% of the total installed cost of all the systems offered by Green Energy Works. Here is a list of what is available:
For Homeowners
• Federal income tax credit is 30% of the installed cost for solar hot-water heaters, PV and geothermal heat pumps, with no cap and may be carried forward to subsequent tax years.
• Federal tax credit of 30% with a $1,500 cap is available for high efficiency Water Heaters, Furnaces , Boilers, Heat pumps, Central Air conditioners, Building Insulation, Windows, Doors, Roofs, and Circulating fans used in a qualifying furnace. See http://www.energystar.gov/taxcredits for details.
• State income tax credit is 10% of the installed cost for solar hot-water, space heating and PV, and 30% for geothermal systems, with a credit cap of $9,000.
• Solar hot water, space heating and PV systems are exempt from increasing your property tax and are also exempt from gross receipts tax.
• PNM, Xcel Electric and El Paso Electric provide net metering and Renewable Energy Credits for residential PV systems, ranging from 12¢ to 18¢ per kWh.
For Businesses
• Federal income tax credit is 30% of the installed cost for solar hot-water heaters and PV, and 10% for geothermal heat pumps, with no cap and may be carried forward to subsequent tax years.
• Federal tax credit for substantially improving building energy efficiency. The credit is $1.80/sq.ft. for lower overall building energy use by 50%, or $0.60/sq.ft for individual systems reductions (such as achieved by converting to LED lighting).
• Accelerated depreciation for solar hot-water and space heating, PV, and geothermal heat pumps. This typically allows 80% of the installed cost to be depreciated within a 5-year period.
• PNM, Xcel Electric and El Paso Electric provide net metering and Renewable Energy Credits for commercial PV systems, ranging from 12¢ to 18¢ per kWh.
• PNM has a $500 rebate for Coolerado air conditioners, with no cap on the number of units, and a 6¢ /kWh rebate for all the energy saved over a one year period by converting to LED lighting. Xcel provide a $200/1,600 cfm rebate for Coolerados
For a detailed list of all Federal and State incentives, with explanations and links to further information and forms, visit http://dsireusa.org
For Homeowners
• Federal income tax credit is 30% of the installed cost for solar hot-water heaters, PV and geothermal heat pumps, with no cap and may be carried forward to subsequent tax years.
• Federal tax credit of 30% with a $1,500 cap is available for high efficiency Water Heaters, Furnaces , Boilers, Heat pumps, Central Air conditioners, Building Insulation, Windows, Doors, Roofs, and Circulating fans used in a qualifying furnace. See http://www.energystar.gov/taxcredits for details.
• State income tax credit is 10% of the installed cost for solar hot-water, space heating and PV, and 30% for geothermal systems, with a credit cap of $9,000.
• Solar hot water, space heating and PV systems are exempt from increasing your property tax and are also exempt from gross receipts tax.
• PNM, Xcel Electric and El Paso Electric provide net metering and Renewable Energy Credits for residential PV systems, ranging from 12¢ to 18¢ per kWh.
For Businesses
• Federal income tax credit is 30% of the installed cost for solar hot-water heaters and PV, and 10% for geothermal heat pumps, with no cap and may be carried forward to subsequent tax years.
• Federal tax credit for substantially improving building energy efficiency. The credit is $1.80/sq.ft. for lower overall building energy use by 50%, or $0.60/sq.ft for individual systems reductions (such as achieved by converting to LED lighting).
• Accelerated depreciation for solar hot-water and space heating, PV, and geothermal heat pumps. This typically allows 80% of the installed cost to be depreciated within a 5-year period.
• PNM, Xcel Electric and El Paso Electric provide net metering and Renewable Energy Credits for commercial PV systems, ranging from 12¢ to 18¢ per kWh.
• PNM has a $500 rebate for Coolerado air conditioners, with no cap on the number of units, and a 6¢ /kWh rebate for all the energy saved over a one year period by converting to LED lighting. Xcel provide a $200/1,600 cfm rebate for Coolerados
For a detailed list of all Federal and State incentives, with explanations and links to further information and forms, visit http://dsireusa.org
Federal and Local Rebates