Rebates

In March 2010, South Dakota established a new property tax incentive that replaced two existing property tax incentives for renewable energy. Facilities that generate electricity using wind, solar, hydro, hydrogen generated by another eligible resource, or biomass resources are eligible for this incentive, as are facilities that generate other forms of energy using solar or geothermal resources.

For eligible facilities less than 5 megawatts (MW) in capacity, all real property used or constructed for the purpose of producing electricity is assessed in the same manner as other real property. However, the first $50,000 or 70% of the assessed value of

In New Jersey, under the Farmland Assessment Act, farmland actively devoted to an agricultural or horticultural use is assessed at its productivity value. This practice generally results in a lower tax burden for farmland owners compared to residential or commercial land owners. In January 2010 New Jersey enacted legislation (S.B. 1538), which among other things clarifies how farmland used for biomass, solar, and wind energy generation should be treated under the Farmland Assessment Act. Ultimately, the law states that the addition of a biomass, solar, or wind energy generating system to land that was assessed and taxed as

Eligible Technologies

Photovoltaic Energy, wind energy, hydroelectric energy, landfill gas, biomass, ocean and microturbine systems.

Requirements

In July 2009, the Virgin Islands (USVI) passed Act 7075. Among other provisions, the legislation establishes that the "peak demanded generating capacity" of the Virgin Islands Water and Power Authority* must be from renewables according to the following schedule:

• 20% by January 1, 2015
• 25% by January 1, 2020
• 30% by January 1, 2025

It further establishes that a "majority" of this generating capacity must come from renewables or alternative technologies beyond 2025. Joint rulemaking is to be undertaken by the Virgin Islands Energy

Note: In 2010, the Federal Housing Finance Agency (FHFA), which has authority over mortgage underwriters Fannie Mae and Freddie Mac, directed these enterprises against purchasing mortgages of homes with a PACE lien due to its senior status above a mortgage. Most residential PACE activity subsided following this directive; however, some residential PACE programs are now operating with loan loss reserve funds, appropriate disclosures, or other protections meant to address FHFA's concerns. Commercial PACE programs were not directly affected by FHFA’s actions, as Fannie Mae and Freddie Mac do not underwrite commercial mortgages. Visit PACENow for more information about PACE financing

North Carolina enacted legislation (H.B. 1389) in August 2009 that authorizes cities and counties to establish revolving loan programs to finance renewable energy and energy efficiency projects that are permanently affixed to residential, commercial or other real property. A revolving loan program generally refers to a loan fund, where the loan repayments and interest are fed back into the fund. In this way, the loan can, in theory, continue indefinitely. HB 1389 allows cities and counties to fund their loan programs through Energy Efficiency and Conservation Block Grants from the federal government and the city's or county's unrestricted

With an approved credit check, Haywood EMC members may borrow up to 100% of the total cost for heat pump or weatherization loans through ElecTel Cooperative Federal Credit Union. Please contact ElecTel CCU at 800-849-5600 for more information on this loan.

Note: H.B. 2528, enacted in May 2017, repeals these tax incentives beginning in 2018.

S.B. 1403, signed in July of 2009, created tax incentives intended to draw renewable energy product manufacturers to Arizona. Specifically, income tax credits and property tax incentives are available for companies choosing to establish or expand their manufacturing facilities and corporate headquarters in Arizona. To be eligible, the business must meet certain minimum requirements for the quantity and quality of new jobs created. Some of these requirements were amended in May 2010 by S.B. 1201. Different incentive levels are available depending on how many

The Illinois Finance Authority (IFA) is a state conduit issuer of tax-exempt bonds and credit enhancement for projects in Illinois. IFA funding is available to commercial and non-profit entities as long as those entities meet strict eligibility criteria. In 2012, the legislature also added schools and community colleges to the list of eligible entities for energy conservation funding. Entities seeking funding must demonstrate that their projects provide a significant public benefit for the citizens of Illinois. In 2009, the IFA was authorized by legislation (S.B. 1906 and S.B. 390) to provide funding via issuance of tax-exempt bonds for renewable energy

Note:  In 2010, the Federal Housing Finance Agency (FHFA), which has authority over mortgage underwriters Fannie Mae and Freddie Mac, directed these enterprises against purchasing mortgages of homes with a PACE lien due to its senior status above a mortgage. Most residential PACE activity subsided following this directive; however, some residential PACE programs are now operating with loan loss reserve funds, appropriate disclosures, or other protections meant to address FHFA's concerns. Commercial PACE programs were not directly affected by FHFA’s actions, as Fannie Mae and Freddie Mac do not underwrite commercial mortgages. Visit PACENation for more information about PACE financing

Note:  In 2010, the Federal Housing Finance Agency (FHFA), which has authority over mortgage underwriters Fannie Mae and Freddie Mac, directed these enterprises against purchasing mortgages of homes with a PACE lien due to its senior status above a mortgage. Most residential PACE activity subsided following this directive; however, some residential PACE programs are now operating with loan loss reserve funds, appropriate disclosures, or other protections meant to address FHFA's concerns. Commercial PACE programs were not directly affected by FHFA’s actions, as Fannie Mae and Freddie Mac do not underwrite commercial mortgages. Visit PACENation for more information about PACE financing