Tax Rebates & Financing

NEWS FLASH!! Signed into law on February 17, 2009 , the American Recovery and

Reinvestment Act provides billions of dollars to increase the use of solar energy, removing the $2,000 cap on the 30% personal tax credit.

Key provisions benefiting solar energy.

You can read or search the text of this legislation (HR 1) here.

One important point in this bill is the removal of the cap on Solar Thermal systems. Previously the personal federal tax credit was 30% or $2,000. This bill removes all caps on the tax credits, so that now both PV and Solar Thermal stand at 30%.

Solar Thermal has long been recognized as the most cost-effective investment when looking at Solar options. The systems are less expensive, their ability to take the sun's energy and turn it into useful power is higher thus the payback time is much quicker.

With winter heating bills skyrocketing, families have to find ways to cut their fuel bills. A solar hot water system for an average Maine family costs about $10,000. The state and federal programs reduce this cost so the system pays for itself in less than 5 years.

Solar hot water can cut your fuel bills by 20%+, forever. A Solar hot water radiant heat system can cut your heating bills by over 50%. Solar is a permanent solution.

There are also low interest (3.9) loans available to help you pay for your solar system. For commercial clients we have lease financing available to help you see a positive cash flow immediately.

Maine's $1,000 Solar Rebate Program

The Maine Solar Rebate program is now closed again as they allocated all the money available. (see below for the details).

If you want the rebate program funded, you need to put pressure on our political leaders. Their contact information can be found here.

• Funding for 2008 has been allocated. New applications for funding will be accepted from January 2 through January 16. At that time they will process applications for PV (electric) for 2009 and 2010. There will also be limited availability for Solar Thermal (hot water/heat) for 2010.
• What this means is that you may be pre-approved and have your install completed, but your rebate payment will not arrive until 2009 or 2010.
• If you have put your install on hold because of the rebate status, but are seriously considering solar, please call our office ASAP. We will provide a quote and get all the rebate paperwork completed.
• Should you be approved, but decide against an install, please let them know you are are no longer interested. Should you decide to procede, Solaris Thermal will be listed as your certified installer. However, you may switch to another certified installer and still receive your rebate. You are under no obligation to engage our services.
• There is a very limited amount of funding available and the state has lowered rebate amounts to $1,000 for residential work. Between the applications currently in our office and those in care of our competitors, these funds will be depleted very quickly, so don't delay. Call today for a free site survey.

If you have not yet done so, please contact your local state representatives and point out to them that the rebate program is under-funded. The state has made repeated claims of being a “leading state” when it come to green industry support. But their actions do not support their claims.

We need our Governor and State Representatives to provide additional funds for this solar rebate program, and not just rely on the small amount generated by a surcharge collected via our power bills. The program is set up in such a way that funding could come from any source, including the General Fund that is used for many less important items.

Find contact information here.

It is nearly impossible to keep up with all the changes in the government's programs. We suggest you visit DsireUSA.org for the latest information. You should also verify with your local government office before assuming the programs are in place.