Incentives

1. Tax Credit

A taxpayer may claim a credit of 30% of qualified expenditures for a wind electric system that serves a dwelling unit located in the U.S. used as a residence by the taxpayer

2. Renewable Energy Grants

A new program through the Department of Treasury that provides grants equal to 30 percent of the cost of solar or wind property placed in service during 2009 and 2010, in lieu of the investment tax credit. Property that is not placed in service prior to December 31, 2010 qualifies for the grant program as long as construction begins prior to December 31, 2010 and is placed in service by January 1, 2017.

3. USDA- Rural Energy For America Program (REAP)

Rural Development makes loan guarantees, and grants to farmers and ranchers (agricultural producers) or rural small businesses to purchase renewable energy systems and make energy efficiency improvements. The Farm Security and Rural Investment Act of 2002 (2002 Act) established the Renewable Energy Systems and Energy Efficiency Improvements Program under Title IX, Section 9006. This program will help farmers, ranchers, and rural small businesses to reduce energy costs and consumption. www.rurdev.usda.gov/ne
The Rural Development Guaranteed Programs offers:

• Loan guarantees up to 85%, guaranteed portion; and up to 50% of total eligible project costs.
• Loan amounts are a minimum of $5,000 and a maximum $10 million and can be combined with a 25% energy grant.
• Loan terms are 20 yrs or useful life.

See www.dsireusa.org for more information on the Residential Renewable Energy Tax Credit, Renewable Energy Grants, and USDA programs.