Incentives.Shared Resources.

If solar is part of your Banner Power Solution, going green doesn’t mean going it alone. Federal, state and county governments —even your local utility company—may offer financial incentives to offset the cost of the renewable component of your battery-based power system.

As interest in renewable energy blossoms, these incentive programs continue to multiply, making solar panels and other components more affordable in both the residential and commercial settings. Unfortunately so do the program rules and regulations.

That’s where we come in.

Federal Tax Credit 

The U.S. government provides a tax credit of 30 percent of the total cost of a solar electricity system or up to $2,000. In one of the last measures taken by the 109th Congress, an important federal policy for promoting the development of renewable energy received a one-year extension through the end of 2008.

State Incentives Programs

Many states have established requirements or goals to increase renewable energy use. They have enacted renewable portfolio standards (RPS) that set increasing percentage shares of electricity generation or sales, mandates that specify quantities of new generating capacity to be built, or voluntary goals.

The most common program is an RPS requiring that some specified percentage of electricity supply come from qualifying renewable energy sources. Features of RPS programs and existing electricity supplies differ from state to state.     

Municipal Incentive Programs

Municipal governments are developing programs aimed at:
Providing an increasing supply of clean, renewable and efficient energy
Supporting the development and deployment of emerging technologies
Achieving energy cost savings through greater use efficiency in residential, commercial and municipal buildings

Utility Incentive Programs—Net Metering

Net metering programs in many states offer the potential for energy customers to realize financial benefits from installing renewable energy systems.

Net metering allows consumers to offset the cost of the electricity they buy from a utility by selling renewable electric power (like solar) generated at their homes or businesses back to the utility company. In essence, a customer's electric meter can run both forward and backward in the same metering period, and the customer is charged only for the net amount of power used.