West Virginia residential solar energy incentives

Residential solar energy tax credit:

-Residential installations of eligible renewable energy systems are allowed a 30% tax credit of the total cost of the system including installation.
-Eligible technologies include solar photovoltaics, solar water heat and solar space heat.
-Maximum incentive amount is $2,000.
-Any excess credit can be carried over each year until the credit is exhausted.

Net metering:

-Net metering is available to customers in West Virginia who have facilities that generate electricity through solar, wind, fuel cells, biomass, hydropower or geothermal systems.
-The power produced by the renewable energy system is used to offset the kilowatt hours consumed each month. The incentive shows up as a credit on the customer’s monthly bill.
-Customers keep all renewable energy credits connected to the electricity their system generates.
-Systems must have a capacity of 25 kilowatts or less to be eligible for net metering.
-Net metered customer generators must have a minimum of $100,000 in liability insurance and must have a bi-directional meter in order to qualify.

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.