Financial Incentives
Leasing and Loan Program
REM will work with you to provide capital or operating leases for installations of our products. We will also work with banks, corporations, and investment companies to provide loans, tax credit pass-throughs, and other financing programs offered at the state level. Contact us for a fiancial consultation.
State Financing Incentives and Options
There are many state and federal financing options available for parties that will install and use wind energy systems. Some of the state options include:
- Tax Credits; both corporate and personal
- Utility Grants
- Utility Loans
- Utility Rebates
- State Grants
- State Loan Programs
- State Rebate Programs
In several states, the tax credit programs include a pass-through option, whereby corporate partners who can better use the tax credit buy it back at the net present value.
For an in-depth look at the state programs, visit the DOE's Database of State Incentives for Renewable Energy.
Federal Financing Options
- Corporate Depreciation
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Modified Accelerated Cost-Recovery System (MACRS)
- Corporate Exemption
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Residential Energy Conservation Subsidy Exclusion (Corporate)
- Corporate Tax Credit
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Business Energy Tax Credit
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Renewable Electricity Production Tax Credit
- Federal Grant Program
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Renewable Energy Systems and Energy Efficiency Improvements Program
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Tribal Energy Program Grant
- Federal Loan Program
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Energy Efficient Mortgage (EEM)
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Energy Star Financing and Mortgages
- Personal Exemption
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Residential Energy Conservation Subsidy Exclusion (Personal)
- Personal Tax Credit
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Residential Solar and Fuel Cell Tax Credit
- Production Incentive
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Renewable Energy Production Incentive (REPI)
The American Wind Energy Association (AWEA)
The American Wind Energy Association (AWEATM) promotes wind energy as a clean source of electricity for consumers around the world.
AWEA is a national trade association that represents wind power plant developers, wind turbine manufacturers, utilities, consultants, insurers, financiers, researchers, and others involved in the wind industry -- one of the world's fastest growing energy industries. In addition, AWEA represents hundreds of wind energy advocates from around the world.
See information about financing wind energy here.
U.S. Department of Energy
The Department of Energy has tremendous information about financing options for wind turbines and other forms of renewable energy applications. See the Federal Financial Opportunities page here. Also, see the links below.
If you're a homeowner, you can take advantage of many financing programs for energy efficiency and/or renewable energy projects. These web sites will guide you to lenders, state-specific incentives, and products and services that can help you get your project off the ground.
The Department of Energy's FEMP Program mission is to reduce the cost of government by advancing energy efficiency, water conservation, and the use of solar and other renewable energy. Creating partnerships, leveraging resources, and financing are just a few of the ways this mission can be accomplished. Here are the FEMP sites related to financing.
Here is an example of homeowners who built their home in 1972. The price for energy was not the incentive here, but the remoteness of their location. Imagine how much more this solution is worth with today's burgeoning energy costs!
Living Off-Grid: A Success Story
This home, built near Ward, Colorado (at an elevation of 9000 feet), has been off-grid since it was built in 1972. When the house was built, the nearest utility
was over a mile away, and it would have cost between $60K to $70K (based on 1985 rates) to connect to the utility lines.
The owners decided to install a hybrid electric system powered by wind, solar, and a generator for a cost of about $19,700. The parts of the system include:
- Bergey 1.5-kW wind turbine, 10-ft (3-m) diameter rotor, 70-ft. (21-m) tower
- Solarex PV panels, 480 watts
- 24 DC battery bank, 375 ampere-hours
- Trace sine wave inverter, 120 AC, 1 phase, 4 kW
- Onan propane-fueled generator, 6.5 kW rated (3 kW derated for altitude)
Electric appliances in the home include television, stereo, two computers, toaster, blender, vacuum cleaner, and hair dryer. The largest electric loads are created by a well pump and washing machine. The generator runs about 20% of the time, particularly when the washing machine is in use. Propane serves the other major loads in the home: range, refrigerator, hot water, and space heat. Solar collectors on the roof provide pre-heating for the hot water.
Source: National Wind Technology Center (NWTC) website; http://www.nrel.gov/wind/consumer_home_business.html
Contact us to discuss ways that REM can help you with your financing needs.
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