ANNAPOLIS (March 26, 2010)—The Maryland Energy Administration (MEA) today announced the update of a new incentive program for mid-sized solar energy systems, made possible through funding from the American Recovery and Reinvestment Act (ARRA). This two year program will provide a total of up to $1.45 million to lower the cost of rooftop solar energy systems for commercial buildings, allowing more Maryland businesses to receive the benefits of clean renewable energy from the sun.
The incentive program covers two technologies, solar photovoltaic which converts light into electricity, and solar water heating, which converts light into heat energy to supplement natural gas or electric water heating. Both of these technologies have reached a level of technology maturity and reliability that makes them great long term investments for commercial buildings.
Through the Maryland Energy Administrations grant program, Marylanders now can qualify for a rebate of $500 per kilowatt of photovoltaic capacity installed for systems between 20 and 100 KW, up to $50,000 per grant, and 15% of the system cost for a solar hot water system up to $25,000 per grant at this time.
The challenge for many businesses is that the costs for solar energy systems are all up-front, while the benefits accrue over many years of use, noted MEA Director Malcolm Woolf. The mid-sized incentive program, combined with the federal investment tax credit of 30%, is designed to help lower the upfront cost of these renewable energy systems so that businesses can continue to invest in clean renewable energy despite the difficult economy. We are thrilled to be able to serve the business community with this much-needed clean energy program.
For more information on the mid-sized renewable grant program and application instructions, visit http://www.energy.state.md.us/incentives/business/MidSizedSolarGrants.asp .