Solar Energy Investing

MarketWatch reports APS customers will be able to take advantage of tax incentives and rebates to install renewable energy systems thanks to a new loan program.  APS and Electric Gas Industry Association allows financing for renewable energy systems such as roof top solar electric, solar water heating, and wind turbines.  A roof top solar system initially costs $21,000, after rebates and incentives it costs $9,000.  The GEOSmart Loan Program allows this out of pocket cost to be financed.

Energy Current reports Clear Skies Solar will install a photovoltaic solar power system at the McGowen Builders new headquarters in New Jersey.  The 122kW project calls for 610 Suntech solar panels and is expected to be finished by the beginning of September.  The Renewable Energy Credits provided by the state allowed the McGowen brothers to make this investment in alternative energy.

Ithaca Times reports Tompkins County, New York residents have an incentive to install solar power in their homes- it currently has the most solar power systems in the state.  The New York State Energy Research & Development Authority has put a local tax exemption into place indefinately.  NYSERDA will provide a 40% savings of installation by giving $16,000 back from up front costs.

Baltimore Business Journal reports the Maryland Energy Administration increased the individual grant award by $7,000 for homeowners to install solar power systems.  This piqued the interest in residents so much that applications that were approved will receive no funding as it has already been given away.

Triangle Business Journal reports Prince George’s County Council has approved a tax incentive for residents to install solar power or geothermal heating systems.  Those residents who use a hot water system will receive $1,500 and a heating system will qualify for $5,000.

The BrinkTank Blog reports SolarCity Inc. of California, allows for a 15-year lease on solar panels and installation, this includes repairs and removal of the system.  The lease could be cause for saving money on monthly electric bills, even though the lease rate increase by 3.5% each year.  However, some states are providing tax incentives to offset costs, but you purchase at the risk of quickly outdated technology.

San Francisco Business Times reports SolarCity installs and finances solar systms.  Before San Francisco’s $3 million solar subsidy, their services weren’t saving customers money since lease payments were higher than utility costs.  The subsidy offers $3,000 - $6,000 incentives for residents to install solar power systems.

Greentechmedia.com reports Roche Palo Alto, California has applied for the largest solar power system in the city.  The 112,000 square foot photovoltaic system will be mounted on several rooftops and managed by Solar Power Partners.  This project will have the capacity to power 172 homes when running at peak operation.

Earth2Tech reports Xunlight just received $4.9 million in funding from Ohio’s Research Commercialization Program.  This funding comes after a $1 million public grant from Ohio’s Alternative Energy Program.  The funding will be used to secure in-state thin-film solar jobs.  Xunlight has built a pilot plant for its roll-to-toll solar technology and has 100kW of capacity to print its silicon-based cells.

Red Bank Green reports Hobbymasters, a toy retailer, plans to cover their roof with solar panels.  The $180,000 project is expected to save $500/month in electricity costs and will have pid for itself in 5 years.  A state grant is covering 1/3 of the costs.