The MN legislature passed the 2013 MN Solar Jobs Act requiring all investor-owned utilities to get at least 1.5% of their electricity sales from solar energy. Therefore, there will be incentives available for 2014 installations. The incentives will take the form of an increased buyback rate for electricity produced by the solar energy system. Please contact IPS for details.
30% federal tax credit- Businesses and homeowners can receive a 30% federal tax credit on the cost of a solar system.
MACRS depreciation- Businesses can depreciate a system’s cost basis on an accelerated schedule over 5 years.
Gopher Solar Program™- Install solar at your home for little to no money down. Participants must be located in Xcel, Minnesota Power, Ottertail, or Alliant electric utility territories. Learn more here.
Community Solar Gardens- Home and business owners now have new solar investment opportunties. In late 2014 those who either don't have ideal sun exposure, don't own their roof, or just don't want solar on their building can still profitably invest in clean energy. IPS builds and maintains solar farms and as an investor you're eligible to earn credits that directly reduce your utility bill.
This program is still under development will be available to customers in Xcel, Minnesota Power, Ottertail, or Alliant electric utility territories. Join our interest group by contacting us here; please mention Community Solar Gardens specifically.
Commercial Solar Leasing- Minnesota businesses and non-profits can now install solar with no cost upfront. IPS and its investors install, own, and operate the system; your company agrees to buy power from the array at a discount to your current power rate. This program has an annual deadline of Febraury 21st. Contact us today to learn how solar can be cashflow-positive from day 1.
PACE Financing- Property-Assessed Clean Energy (PACE) financing allows commercial property owners to borrow money to pay for renewable energy improvements such as solar electric systems. The amount borrowed is repaid via a special property tax assessment over time, typically 10-20 years. Solar electric systems produce clean, reliable power that reduce utility bills, stabilize the grid, and promote home-grown renewable energy. The major components of the system have a 25-year warranty and IPS expects at least 30-40 years of useful life out of the systems. The result is reduced utility costs and increased profits for your business.
In November 2011, The Edina city council voted to adopt the first PACE program in Minnesota. IPS and its partners were successful in bringing PACE financing to Eagan in the summer of 2013. IPS is working with its partners and other city councils around the state to adopt PACE financing programs. If you are a commerical property owner and would like to bring PACE to your city, contact IPS today.