The United States Federal government, state governments, and local utilities have an array of financial incentives, rebates, tax credits, and renewable energy credits to promote the construction of solar energy systems. New Solar can help you make thousands to millions* of dollars over the next 25 years! And you help to build our new green living environment! It is a win-win for all of us.
New Solar will help you to finance the project with a number of options. With financing, your project can be a no-money-down investment for you. Here are some sample project returns:
Note*: Your actual return may vary.
New Solar develops the specific proposal that fits your needs. This business model includes financing options from our investors and creditors, and where necessary, a Solar Power Purchase Agreement. Our overall plan requires unique financial relationships and a complex set of capabilities that few other companies have. In addition, our plan will maximize the use of the federal investment tax credit and other local incentives.
The United States Federal government has a number of financial incentives for developing and installing solar energy systems and power plants. Under the "American Recovery and Reinvestment Act" (ARRA), the Federal government will provide 30% cash rebate to qualified projects for 2011 installation. After 2011, there is the Federal Investment Tax Credit (ITC) program to cover 30% of the system cost. It comes as either corporate tax credit for commercial installation or personal income tax credit for residential installation. In addition, there are corporate depreciation incentives, your solar installation may qualify a five (5) years accelerated depreciation schedule under the Federal Modified Accelerated Cost-Recovery System (MACRS).
Your local state and local utility also offer various financial incentives in the form of cash rebates, tax exemption, income tax credit, and property tax credit. These programs are different from state to state and from one utility to another utility firm. Our professional staff is more than happy to explain the details to you based your state and your site location.
Payback for the Solar Power Generated
Again depending on the location of your project site, there are different ways for you to receive financial payback for the electricity power your system generated. We are listing some of the most common ones below:
Net metering is the simplest form of receiving financial benefits. The electricity generated from your solar energy system is fed to the utility electric meter. This meter normally spins forward to record the amount of electricity you draw from the utility grid. When your solar system is creating more electricity than you are using in your building, the extra electricity will be fed to the grid, and your meter will spin backwards to offset the monthly charges you have to pay your utility firm.
Some state offers a feed-in-tariff (FIT) program. Your local utility firms offer to purchase all the solar electricity generated from your system at a pre-negotiated rate. You will get a payment from the utility firm regularly based on this pre-negotiated long-term agreement.
Solar Renewable Energy Credit
Some state offers a Solar Renewable Energy Credit (SREC) program. Your solar system will be certified to earn this renewable energy credit based on the amount of solar electricity that you generate. You can sell this energy credit in the open market for a financial payback. Alternatively, you can negotiate a long-term contract for someone to purchase your multi-year generation of energy credits.
We offer a comprehensive one-stop shop to build your solar energy system. Your system will be advanced, high performance, good value, and reliable for years to come.
Our team will go through the following steps to develop your solar project. Some of the steps may be optional based on the type of projects (such as residential projects) and the locations of the projects.
Evaluation and Analysis
We start each project with a careful discussion with our customer to evaluate the proposed site situation, analyze the feasibility of such a system, and propose all options for our customer to consider for building a green energy environment. We will carry out:
- Analysis of project viability at potential sites
- Energy audit to pinpoint solar system requirement
- Identify other possible green energy improvements
Project Development and Engineering Design
After matching customer's expectation with our initial assessment, we proceed to develop a detail plan of execution, and prepare all other necessary approvals, to build an efficient reliable solar energy system:
- Overall project development and management
- Proposal of financing options
- Application for Feed-in-tariff, where applicable
- Application for government and utility incentives
- Negotiating Solar Power Purchase Agreement, if needed
- Permitting with local authorities
- Environmental and feasibility study, if needed
- System engineering design
Construction, Inspection, and Certification
After our customer's approval to proceed with the contract, and obtaining all necessary financial contracts and government permits, we carry on to implement our advanced system:
- Component sourcing
- Construction, logistics, and warehousing
- System commission
- Passing local authorities inspection
- Certification for incentives or Renewable Energy Credit
Monitoring, Maintenance, and Promotion
After the system is build, we continue to provide our customer with professional support:
- Ongoing system monitoring, and maintenance
- Marketing promotional support
To learn more, please contact New Solar for details.