Wyoming residential solar energy incentives

Photovoltaic incentive program:

-This State rebate program offers qualifying participants who install photovoltaics on their homes a grant of either $3,000 or 50% of the cost of the PV system, which ever is less.
-Requirements for this program include an application, photos of the installation, an invoice of the equipment and quarterly reports during the first year of system operation.

Renewable energy loan program – Powder River Energy Corporation:

-This program was designed to help residents of northeastern Wyoming finance renewable energy systems for their homes.
-The loans are only available to members of Powder River Energy Corporation.
-Maximum loan amount is $2,500 per member at a zero percent interest rate.
-Loans have a payback period of no more than 36 months.
-Applicants must pay a 4% fee of the total requested loan amount to apply.

Net metering:

-Net metering is available to customers who have facilities that generate electricity through solar, wind, methane, 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.

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.