Incentives
Right now there are several incentives to help pay for a solar electric or solar thermal system.
Xcel Solar Rewards- Xcel Energy is offering a $2.25/ watt incentive to install a solar electric system, which equals roughly 30% of the total installed cost of a system. Paid upon completion of the installation, the Solar Rewards incentive is one of the best incentives in the country.
Made in Minnesota incentive- In addition to the $2.25 / watt incentive, Xcel is offering a $2.75 / watt incentive for solar modules. In concert with the federal tax credit / grant, you can save up to 90% of the upfront cost of a system! The incentive is paid over 5 years in equal installments.
30% cash grant/ federal tax credit- Businesses can get a 30% cash grant from the U.S. treasury upon completion of a solar system. Homeowners can take the same 30% as a federal tax credit.
MACRS depreciation- In 2011 businesses can depreciate 100% of a system’s cost basis in the first year, increasing the project’s ROI tremendously.
Financing
Innovative Power Systems offers financing solutions for both residential and commercial clients. Through our lending partners, commercial clients can either get a construction loan or a longer term loan. Residential clients can work with our partners to get a same-as-cash loan or a longer term loan option. Please call for details.