Federal, state and local governments offer incredible financial incentives to encourage businesses to invest in renewable energy. These incentives dramatically lower the cost of a solar system and can make the difference in turning your project into a profitable investment.
Many states, cities and utility companies have created programs to encourage businesses to switch to solar power. The amount of the rebate subsidy varies by program, but some are generous enough to cover up to 40% of your system cost. However, these programs are designed to reward early adopters of solar power, so the rebate amount per project continues to drop as the allotted funds are consumed.
Renewable Energy Credits (RECs) are tradable commodities that were developed to place a value on clean, renewable sources of energy. These credits can be sold in compliance markets to utility companies who need to meet mandated renewable energy standards or the credits may be sold in voluntary markets to organizations who wish to meet renewable energy goals. As a producer of solar energy, you will be credited with one REC for every 1,000 kWh (1 MWh) of electricity you produce. You can also purchase RECs to further offset the consumption of fossil-based fuels by your business.
DSIRE is the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is currently operated by the N.C. Solar Center at N.C. State University, with support from the Interstate Renewable Energy Council, Inc. DSIRE is funded by the U.S. Department of Energy
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