Save money with solar panels.
A typical system will save a homeowner $2,000 every year!
With a solar system you save twice.
Most system costs are reduced by almost 50% with government incentives. A typical system saves over $2,000 every year by reducing your electric bill and producing solar renewable energy credits (SRECs). In this way, you save twice — at the moment of buying and during the decades of solar energy production.
A solar system pays for itself in less than 7 years.
Green Street Solar takes care of the application process and coordinates on your behalf the applications, permits and related paperwork. It is through the combination of all available programs and incentives that you will benefit from substantial savings. This is how a typical system installed on a home in Delaware works.
|System Price||Federal Tax Credit||State Grant||Total Cost|
Savings for 10 years
|Energy Credits||Electric Savings||Total Savings|
Solar Renewable Energy Credits
Solar Renewable Energy Credits (SRECs) are produced by generating power from your solar electric system. For each 1000 kWh of electricity produced from your solar system, you will receive 1 SREC. These credits can add up to a significant income.
State of Delaware credits
The current state grant for Delaware comes from the Green Energy Grant Program, which is for Delmarva Power customers. Depending on your utility company, you can expect to be eligible for a rebate of up to $3,000 for a solar electric system.
Please refer to https://greengrantdelaware.com/documentation/ or contact us for more information.
Federal Tax Credit
In addition to the Delaware State Rebates, the Federal Government offers a 30% federal income tax credit on the total amount spent installing your solar electric system, which remains in effect until the end of 2019. Thereafter the tax credit gradually decreases.
The home served by the system does not have to be the homeowner's principal residence to be eligible. This tax credit can be combined with your Delaware State Rebate to offset a significant portion of the total system costs.
Please refer to http://www.irs.gov/pub/irs-pdf/f5695.pdf or contact your tax consultant for more details that may pertain to your unique tax situation.
Morning: meter spinning slowly
System starts producing energy. Meter is slowing down
Noon: meter spinning backward
Sun generates more power than needed. Energy is sent back to the power company
Night: meter spinning forward
No power produced. Energy comes from power company