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Grants & Rebates

 
The USDA has agricultural grants for farms that receive 50% of their income from agriculture and for businesses that are located in rural areas (rural meaning a city, village, or township with 52,000 or fewer people in it... ie: most all of west Michigan, even including all of Muskegon)*.

Grants can  reimburse up to 25% of eligible project costs. Minimum awards of $2,500 and maximum awards of $500,000 for renewable energy projects are available.  These grants are approved pre-installation, but awarded once installation is complete.  Application deadlines vary throughout the year and award dates also may vary.  The current deadline for applications is July 31, 2010.

Information required by the customer to start the Grant Writing Process:

  • Social Security Number, Farm Tax ID, or EIN (federal ID number)
  • Duns # - Assigned by Duns & Bradstreet, if one is available.
  • Type of Business - ie Proprietorship, partnership, LLC, S Corp, C Corp
  • Copies of the last three years Tax Returns
  • Electric bill with annual usage, or the previous 12 monthly electric bills
  • Proof of property ownership - Copy of Lease, Title or Deed
  • Legal Description of property, usually from property tax bill.
  • Funding sources for Project - Letter of commitment from bank or if self financed.
  • Description of business operations
  • Description of business ownership
  • NAICS code (North American Industry Classification System); usually a copy of last year's tax return will provide the necessary information.   As a tax preparer since 1984 and a member of the National Association of Tax Preparers, confidentiality is guaranteed and a thorough understanding of the tax code is a part of the process.  As a licensed builder, a tax preparer, and a trained installer of renewable energy; you would be hard pressed to find this kind of experience with anyone else.

Shelby Solar and Wind can assist in writing the grant, a small fee is applicable.  (Depending on the size of the application, fees can range from $300 to $900)

 


 

The IRS is offering a 30% federal income tax credit on all completed installations for the next 6 years (provided the rules do not change)*.  An examination of your previous tax returns should provide information as to whether this would be beneficial to you.


The State of Michigan is offering $1,200 rebates on Solar Hot Water systems.  There are also smaller rebates available for energy efficient appliances.  Information on these rebates can be found at http://www.michigan.gov/dleg/0,1607,7-154-25676-217575--,00.html

 


 

Consumers Energy and Detroit Edison (among others) have pilot programs that allow for the selling of Solar Energy Credits to them*.  These companies need to produce renewable energy in great quantities in the very near future and they can alleviate some of this burden by purchasing credits from you.  A Solar installation can expect to receive monthly or yearly checks for the energy they produce if you participate in these pilot programs.  At this point wind turbines do not qualify.  The primary reasoning for this is that it can be estimated with a high percentage of accuracy what a solar installation can produce over the next 20 years, whereas a wind turbines' production is somewhat less predictable.

 


 

There are also guaranteed loans and other financing options available, please contact Shelby Solar and Wind for more information.  In addition, both the tax code and financing options can and probably will change multiple times in each of the forthcoming years.  Please check back for updates.

 


 

A small business or farm can possibly expect to receive at least 55%* or more of the installation cost to be refunded to them through these grants and tax credits.  With additional amounts available if solar is involved.  It would not be unheard of for a farm or rural business to have nearly all their costs recovered in 7 years or less, and to double or triple those savings over the next 14 years.  For a complete ROI (Return on Investment) analysis please contact us today. 

 


*Limits do apply.



 

 

 

  

 

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