TVA – Green power switch generation
partners program
- This production-based incentive program is for customers of Tennessee
Valley who purchase and install solar photovoltaics, wind, low-impact
hydropower, and biomass systems.
- The entire output of a qualifying system is purchased by TVA at $0.12
per kilowatt-hour above the retail rate for solar and $0.03 per kilowatt-hour
above the retail rate for all other eligible renewable systems.
- Payments are made in a form of a credit on each monthly bill through
participating local power companies who purchase the generated power.
- A $1000 incentive is given to every participant to help with the initial
cost of the system.
Utility-sponsored loan and solar rebate programs
- Many utility loan and rebate programs are available throughout the
state of Alabama, provided by municipal cities and utility companies.
* Information and details on
all the different programs are available on the internet.
* Details and requirements for each
program will vary.
- Most loan and rebate programs are available for customers who install
heat pumps and water heat systems.
Residential Renewable Energy Tax Credit
- This personal tax credit allows the taxpayer to claim a credit of
30% of expenditures including labor costs and installation of qualified
residential solar-electric systems, solar water heating systems or fuel
cells. Small wind-energy systems and geothermal heat pumps can also
be accredited for.
- Solar-electric systems and solar water heaters have a maximum incentive
of $2,000 if placed in service before 2009. There is no maximum incentive
for systems placed after 2008.
- The excess amount of the federal tax credit may be carried forward
to the next taxable year if it exceeds tax liability.
* This can be carried forward
until 2016, but after that, it is unknown if the unused credit will
be able to be forwarded.
Residential Energy Conservation Subsidy Exclusion
- This is a personal exemption of 100% of energy conservation subsidies
provided by public utilities.
- The value of a purchase or installation of any energy conservation
measure by a customer such as solar water heat, solar space heat or
photovoltaics will not be included in the customer’s gross income.
- Customers of an electric utility company, who participate in the utility’s
energy conservation program, may receive a rate reduction of electricity
furnished or a nonrefundable credit against the purchase price of the
electricity on each monthly electric bill.
Energy-Efficient Mortgages
- This is a federal loan program where homeowners can use EEM (energy-efficient
mortgages) to finance renewable energy technologies in a home.
