Solar and wind power generation are complimentary. At night the solar panels will not produce electricity. However the wind may be stronger during night time than during day time. The same holds true for winter time. The number of sunny hours during winter is less than during summer. However during winter time the winds are more frequent. The wind is strong in the winter when there is less sunlight available. Because the peak operating times for wind and PV occur at different times of the day and year, hybrid systems are more likely to produce power when you need it.
These facts are the essence of the systems designed by our company. Solar, with complimentary wind power generation.
Federal, state and local governments offer incredible financial incentives to encourage businesses to invest in renewable energy. These incentives dramatically lower the cost of a solar system and can make the difference in turning your project into a profitable investment.
Many states, cities and utility companies have created programs to encourage businesses to switch to solar power. The amount of the rebate subsidy varies by program, but some are generous enough to cover up to 40% of your system cost. However, these programs are designed to reward early adopters of solar power, so the rebate amount per project continues to drop as the allotted funds are consumed.
The federal government offers a number of solar incentives, including a 30% investment tax credit (ITC) on the solar system cost. Your company can also recognize accelerated capital depreciation over 5 years, with 50% bonus depreciation for 2009 projects. As part of the 2009 American Recovery and Reinvestment Act (ARRA), the Obama administration has proposed several grant programs for renewable energy that are expected to further help fund solar installations.
Renewable Energy Credits (RECs) are tradable commodities that were developed to place a value on clean, renewable sources of energy. These credits can be sold in compliance markets to utility companies who need to meet mandated renewable energy standards or the credits may be sold in voluntary markets to organizations who wish to meet renewable energy goals. As a producer of solar energy, you will be credited with one REC for every 1,000 kWh (1 MWh) of electricity you produce. You can also purchase RECs to further offset the consumption of fossil-based fuels by your business.
Incentive programs vary considerably from state to state. Find out more about programs in your area by visiting the Database of State Incentives for Renewable Energy (DSIRE).
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