Typical Solar Incentives, Programs and Credits
Global Incentives — Accessible Subsidies
- EnergyGlass is a building integrated pholtovoltaic, “BIPV” and as such accessible to global subsidies, incentives, feed in tariffs and a multitude of other financial drivers.
- The approval of the solar ITC extension moved one industry analyst, Finlay Colville of Solar Intelligence, to proclaim that, “Beyond any shadow of doubt, the US solar market has just been given the most lucrative and government backed seal of approval yet seen in the PV industry.”
- Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA), said that this approval “reestablished America as the global leader in clean energy,” and predicted an additional 140,000 jobs in the solar industry, adding to the current 200,000 solar jobs, as well as enabling “more than $125 billion in new, private sector investment in the U.S. economy.”
- “Solar power in this nation will triple by 2022, hitting 95 gigawatts. That’s enough to power 19 million homes and represents 3.5 percent of U.S. electricity generation- up from 0.1 percent in 2010. And the extension will offset 100 million metric tons of CO2 annually- equivalent to the emissions from 26 coal fired power plants.” – Resch
- According to Greentech Media, the extension of the solar ITC will keep the tax credit at its current 30% rate through the end of 2019, and then be reduced to 26% in 2020, 22% in 2021, and then drop down to 10% in 2022. Projects that are under development before 2024 will be able to still qualify for the tax credit, thanks to a ‘commence-construction’ clause.
- “The ITC extension currently written into the omnibus spending bill will result in a 20-gigawatt annual solar market in the U.S. by 2020. At that rate, more solar will be installed each year than was added to the grid cumulatively through 2014.” – Shayle Kann, senior VP of GTM Research
- Possible USA project financial drivers for EnergyGlass as follows:
- PACE Programs: www.pacenow.org/about-pace/
- www.floridagreenbuilding.org/incentive www.epa.gov/greenpower/pubs/incentives.htm
- Power Purchase Agreement (PPA) is a contract between two parties, one which generates electricity (the seller) and one which is looking to purchase electricity (the buyer).
- Power purchase agreement - Wikipedia, the free encyclopedia.
- Independent Power Producers (IPPs) started to sign Power Purchase Agreements (PPAs) with ENEE as early as 1993. Independent Power Producer. A power purchase agreement (PPA) is a legal contract between an electricity generator . . . and a power purchaser (buyer, typically a utility or large power buyer/trader).
- Public utility. As the industry matures, the tariff is reduced to the retail rate and becomes the same as a power purchase agreement. Feed-in tariff
Incentives on a Sample Project
What is PACE Financing?
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