Financial Incentives Calculator

Income Tax Credit:
Get 30% back from the federal goverment in the form of a federal income tax credit.

Retirement Tax Credit:
The 30% tax credit also applies to taxes assesed when you withdrawl retirment funds.

Important Details:
- Tax credit can be applied over two years.
- You must have tax liability
In other words, you must owe enough tax over two years to equal 30% of the cost of the system in order to take full advantage of the credit.

State Rebate:
A growing number of states like California and Florida offer cash rebates based on the size of the system ($ per watt).

State Tax Credits:
Many states offer state income tax credits, reducing your tax bill. These credits can either be based on a percentage of the system price, or a rebate per kWh of solar energy produced.

Utility Rebates:
Many utilities will rebate home owners for the energy they produce. This rebate is usually comparable to what a home owner pays for energy (The national average is $0.12 kwh)

Example System

System: Residential Solar Electric System
Location: San Luis Obispo, California
Electrical Size: 6kW (6,000 watts)

Equipment: Affordable Solar 6.1 kW Grid Tie Kit

Equipment Cost:	$28,676.00
Installation Cost:	$6,957
Permits, Filing Fees:	$350
Subtotal:	$35,983
Federal Tax Credit	- 10.689.90
CA State Rebate:	- 7916.26
Total Cost:	17,376.84

Details of the Tax Credit The solar investment tax credit (ITC) provisions are:
- Extending for 8 years the 30-percent tax credit for both residential and commercial solar installations;

- Eliminating the $2,000 monetary cap for residential solar electric installations, creating a true 30-percent tax credit (effective forsystems placed in service after December 31, 2008).

- There has been no cap for commercial installations. · Eliminating the prohibition on utilities from benefiting from the credit;

- Allowing Alternative Minimum Tax (AMT) filers, both businesses and individuals, to take the credit;

- Authorizing $800 million for clean energy bonds for renewable energy generating facilities, including solar.