Solar Incentives for St Louis
St Louis is a great location for solar energy production. Many people may not realize that Missouri gets more sun than New Orleans and Houston, for example. Missouri passed Proposition C in 2008 with overwhelming support. Prop C required Investor Owned Utilities (IOU’s) to offer a $2/watt solar rebate and to generate 15% of their power from renewable sources by 2021. Details on St Louis’s incentives are listed below:
New! One-time Amren SREC Purchase Incentive
A new, limited-time Ameren Missouri Solar incentive will be offered in January 2012. Ameren will purchase Solar Renewable Energy Credits (SRECs) associated with solar installations in their territory for $50 per SREC. This will create a significant reduction in the cost of installing solar. Ameren’s budget allocation is limited and we don’t expect this to last through February. The Ameren REC purchase is being offered on a first-come, first-served basis – the order is based on the date an approved interconnection agreement is reached. We can get your interconnection agreement submitted within a week or so of the time we get a signed contract – call us today to take advantage of this limited purchase incentive! (314) 403-0564.
Federal Solar Investment Tax Credit
30% of the cost of the solar property as a tax credit.
Local Utility Rebate
Ameren provides a $2/watt rebate, up to a maximum of 25kw or $50,000. Rebates can only go to Ameren account holders and are typically paid within 30-60 days of installation.
Accelerated and Bonus Depreciation
Under the federal Modified Accelerated Cost-Recovery System (MACRS), solar property can be depreciated over 5 years and if placed in service by 12/31/12, the allowable first-year deduction is 50% of the adjusted basis. In the case of a 50% first year deduction, the remaining 50% of the adjusted basis of the property is depreciated over the ordinary MACRS depreciation schedule. Bonus depreciation can create a net operating loss that may be carried back to the two prior tax years and provide an immediate tax refund. A net operating loss may also be carried forward 20 years.
St Louis is a great location for solar energy production. Many people may not realize that Missouri gets more sun than New Orleans and Houston, for example. Missouri passed Proposition C in 2008 with overwhelming support. Prop C required Investor Owned Utilities (IOU’s) to offer a $2/watt solar rebate and to generate 15% of their power from renewable sources by 2021. Details on St Louis’s incentives are listed below:
New! One-time Amren SREC Purchase Incentive
A new Ameren Missouri Solar incentive will be offered in January 2012. Ameren will purchase Solar Renewable Energy Credits (SRECs) associated with solar installations in their territory for $50 per SREC. This will result in a reduction of thousands of dollars for the cost of solar. Funding is limited and we don’t expect it to last more than a month. The Ameren REC purchase is first come first serve, and is based on an approved interconnection agreement. We can get your interconnection agreement submitted within a week or so of the time we get a signed contract.
Federal Solar Investment Tax Credit
30% of the cost of the solar property as a tax credit.
Local Utility Rebate
Ameren provides a $2/watt rebate, up to a maximum of 25kw or $50,000. Rebates can only go to Ameren account holders and are typically paid within 30-60 days of installation.