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.
Made in Minnesota- The Minnesota legislature established a solar photovoltaic (PV) and solar thermal incentive program for consumers who install PV and solar thermal systems using solar modules and collectors certified as manufactured in Minnesota. The program is administered by the Department of Commerce with an annual budget of $15 million. Incentives for solar are performance-based, established by a ssytem's energy production, and paid over 10 years. This incentive is available on three levels: For-Profit commercial, Non-Profit/Public, and Residential. Commercial systems may have a capacity of up to 40 kW and residential systems may have a capicty of up to 10kW.
Solar Rewards- Xcel's Solar Rewards is a performance based incentive in which customers are compensated at a solar rate nearly twice the retail value. Home and business owners can expect an 8-10 year return on investment while adding equity value to the property.
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. Learn more here.
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.
Minnesota Solar on Schools Program- This year IPS will install solar on over 15 schools around the state. AT NO UPFRONT COST. Over the next 30 years these systems will save millions in tax-payer dollars by lowering operational costs for these school districts. Contact us to find out how solar can provide educational opportunities AND save money.
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 February 21st. Contact us today to learn how solar can be cashflow-positive from day 1.
Faith for Solar- In 2014 IPS will help 4 congregations adopt solar power. Faith organizations are seeing benefits to stewardship while also lowering their utility bills. We can help your organization analyze program eligibility and understand what options make the most sense.
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.