Financing

FEDERAL TAX CREDITS


What systems qualify for the 30% Federal Tax Credit?

  • Any home or commercial solar power package
  • Emergency power back-up system – must include at least one solar panel
  • Improvement to your existing solar power system - must include at least one solar panel
  • Solar System for RV and boat – must have been accepted by the IRS as a second home for tax purposes

Other Facts Regarding Eligibility of the Federal Tax Credit

The home does not have to be the taxpayer’s principal residence.
Tax credit can be carried forward to succeeding year.
There is no ceiling on the tax credit.
Applies to equipment AND installation costs.


IRS FORMS

Residential Renewable Energy Systems - Form 5695 to report your expenses.
Commercial systems - Form 3468.
Systems must be placed in service on or after January 1, 2006, and on or before December 31, 2016.


This information is meant to be a guide only – consult with your tax accountant for your specific tax situation.






RURAL BUSINESSES & AGRICULTURE APPLICATIONS


Applications:


  • Supply clean, renewable, low cost energy for lighting, equipment in homes, commercial properties and remote site
  • Water pumps (power for pumping water during the day, store in elevated tanks and gravity feed fields and other needs)
  • Cleaning animal pens
  • Heating water
  • Dryers for crops and spaces
  • Electricity for remote sites, electric fences, watering points
  • Eliminate noise, fumes, diesel and maintenance for gen-sets





USDA INCENTIVES FOR RURAL SMALL BUSINESSES


Who is eligible:


  • Individual or entity
  • 50% gross income from agriculture
  • Rural small business ( as defined by SBA)


  Renewable Energy Projects Energy Efficiency Projects
Minimum grant $2,500 $1,500
Maximum Grant $500,000 $250,000
Maximum per Applicant $750,000
     
Minimum Loan Guarantee $5,000 $5,000
Maximum Loan Guarantee $25,000,000 $25,000,000
Minimum Combined Grant & Loan $1,500 $1,500
Maximum Combined $25,000,000


Learn more about federal and state incentives for renewable energy

If you need help with Federal and State Grants and Guaranteed Loan Programs - call us today or email info@fortunecpusa.com