Tax Credits-Northeast Solar & Wind Power, LLC

Rhode Island Tax Credits Information:

Solar hot-water systems must have a minimum collector area of 60 square feet and must include a storage tank that holds at least 80 gallons. Solar hot-water systems up to $7,000 are eligible for the full 25% credit. (A resident or business that pays for a solar hot-water system that exceeds $7,000 in cost will receive a credit based on a $7,000 system cost.)

Active solar-heating systems must have a minimum collector area of 125 square feet, and must include a system for storing and/or distributing heat to the living area of a house. Active solar-heating systems up to $15,000 are eligible for the full 25% credit. (A resident or business that pays for an active solar-heating systems that exceeds $15,000 in cost will receive a credit based on a $15,000 system cost.)

Residential Renewable Energy Tax Credit:

Last DSIRE Review: 02/19/2009

Incentive Type:	Personal Tax Credit
State:	Federal
Eligible Renewable/Other Technologies:	Solar Water Heat, Photovoltaics, Wind, Fuel Cells, Geothermal Heat Pumps, Other Solar Electric Technologies
Applicable Sectors:	Residential
Amount:	30%
Maximum Incentive:	Solar-electric systems placed in service before 1/1/2009: $2,000 Solar-electric systems placed in service after 12/31/2008: no maximum Solar water heaters placed in service before 1/1/2009: $2,000 Solar water heaters placed in service after 12/31/2008: no maximum Wind turbines placed in service in 2008: $4,000 Wind turbines placed in service after 12/31/2008: no maximum Geothermal heat pumps placed in service in 2008: $2,000 Geothermal heat pumps placed in service after 12/31/2008: no maximum Fuel cells: $500 per 0.5 kW
Carryover Provisions:	Excess credit may be carried forward to succeeding tax year
Eligible System Size:	Fuel cells: 0.5 kW minimum
Equipment/Installation Requirements:	Solar water heating property must be certified by SRCC or by comparable entity endorsed by the state in which the system is installed. At least half the energy used to heat the dwelling's water must be from solar. Geothermal heat pumps must meet federal Energy Star requirements. Fuel cells must have electricity-only generation efficiency greater than 30%.
Authority 1:	26 USC § 25D
Date Enacted:	8/8/2005 (subsequently amended)
Date Effective:	1/1/2006
Expiration Date:	12/31/2016
Authority 2:	IRS Form 5695 & Instructions: Residential Energy Credits

Business Energy Investment Tax Credit (ITC):

Last DSIRE Review: 06/10/2009

Incentive Type:	Corporate Tax Credit
State:	Federal
Eligible Renewable/Other Technologies:	Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Wind, Biomass, Geothermal Electric, Fuel Cells, Geothermal Heat Pumps, CHP/Cogeneration, Solar Hybrid Lighting, Direct-Use Geothermal, Microturbines
Applicable Sectors:	Commercial, Industrial, Utility
Amount:	30% for solar, fuel cells and small wind; 10% for geothermal, microturbines and CHP
Maximum Incentive:	Fuel cells: $1,500 per 0.5 kW Microturbines: $200 per kW Small wind turbines placed in service 10/4/08 - 12/31/08: $4,000 Small wind turbines placed in service after 12/31/08: no limit All other eligible technologies: no limit
Eligible System Size:	Small wind turbines: 100 kW or less Fuel cells: 0.5 kW or greater Microturbines: 2 MW or less CHP: 50 MW or less
Equipment/Installation Requirements:	Fuel cells, microturbines and CHP systems must meet specific energy-efficiency criteria
Authority 1:	26 USC § 48


Search our site	advanced