These are the current commercial solar incentives available in Vermont and New Hampshire, as well as the federal tax credits available to businesses who go solar. At Catamount Solar, we’ll take care of the state paperwork so you can enjoy the benefits.
For Commercial Systems (including industrial and agricultural there is a State Investment Tax Credit of 7.2% of the system cost – for systems installed no later than 12/31/2016. All equipment must meet the same requirements as the Federal Investment Tax Credit. This credit may be carried over for 5 years.
The NH Public Utility Commission (PUC) have incentive funding available:
- New PV systems less than or equal to 100 kW AC: $0.75/W AC
- New PV systems less than or equal to 500 kW AC and greater than 100 kW AC: $0.65/W AC
- Additions to existing PV systems less than or equal to 100 kW AC: $0.50/W AC
- Additions to existing systems less than or equal to 500 kW AC and greater than 100 kW AC: $0.30/W AC
- 25% of the total cost
- Maximum: 500 kW (AC)
NH Electric Coop Utility has additional incentive funding available: 20% of installed cost up to $2500 (in addition to the PUC incentive funding)
Federal Tax Credit
All new renewable energy systems qualify for a 30% federal tax credit. This credit is based on the full system price paid and is taken for the tax year that the system was completed. This credit has been authorized through 2019, and can be taken over multiple years if your tax liability in the initial year is too low to absorb the entire credit. In the year 2020 the credit will be reduced to 26% and in 2021 to 22%
ACRS Accelerated 5-year Depreciation
Commercial renewable energy systems can be depreciated according to the accelerated 5-year MACRS depreciation schedule which, depending on your business’s tax bracket, can help reduce your system payback rate even faster. 100% bonus depreciation is possible.
In all cases, we recommend that you work closely with your accountant who will be more familiar with how the potential benefits of these incentives relate to the unique circumstances of your tax situation.
Group Net Metering
Both Vermont and New Hampshire are set up so that one solar installation can serve multiple accounts. Give us a call at 802-728-3600 to discuss the details.