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, you can save up to 90% of the upfront cost of a system! The incentive is paid over 5 years in equal installments.
30% federal tax credit- Businesses and homeowners can receive a 30% federal tax credit on the cost of a solar system.
MACRS depreciation- In 2012, businesses can depreciate 50% of a system’s cost basis in the first year. The remainder of the project can be depreciated over the following 5 years.
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.