Program Update: For Applications Received Prior to December 1, 2008: The MEA Solar Energy Grant Program has received additional money from proceeds of funds generated by the Regional Greenhouse Gas Initiative (RGGI). This new round of funding has enabled MEA to offer solar energy grants to about the first 200 individuals on the Fiscal Year (FY) 2009 waitlist. For those still remaining on the waitlist, MEA intends to offer another new round of grants beginning in the new fiscal year, commencing July 1, 2009, after the next round of RGGI proceeds is received by MEA.
For Applications Received After December 1, 2008: Taking into account the increased demand for clean, renewable power in the state, along with the recently amended Federal tax credit lifting its $2,000 limit on solar energy systems, MEA is beginning to look now to issue new regulations for the Solar Grant Program. Before new regulations take effect, MEA will be posting a comment period and any interested parties will be able to submit comments.
MEA is currently reviewing new applications and placing them in order on a new waitlist for FY 2010, but official grant calculations for those on the new waitlist will not be finalized by MEA until the new regulations are put in place. MEA intends to offer grants to applicants placed on the FY 2010 waitlist sometime during the FY 2010 year, but not before everyone on the old waitlist has already received a grant offer. More program updates to follow, please check back here regularly.
Why should I invest in a solar thermal system and how can MEA help?
Most solar water heating systems cost between $6,000 and $8,000. Although this is usually more than the cost of a conventional gas or electric system, todays solar heating systems are cost competitive when you consider your total energy costs over the entire life of the system. The Solar Energy Grant Program through the Maryland Energy Administration provides funding for a portion of the costs to install certain qualifying solar energy systems. Grant applications processed beginning July 1, 2008 are eligible to receive:
- Up to $2,500 per kilowatt, up to $10,000 for photovoltaic property
- Up to $3,000 for solar water heating systems
Benefits of Installing a Solar Thermal System in Your Home or Building:
- Monthly gas or electricity bills will usually be lower and more predictable.
- Solar heating systems insulate you from rising fossil fuel costs and protect you from fuel-price inflation over time.
- Investing in a solar thermal system could also increase the resale value of your home.
- Often, the entire initial cost of the system can be recovered when you sell your property.
- Earn an annual 6% to 25% tax-free rate-of-return on your investment, depending on how hot water usage and energy saved.
- Support technologies that are good for the environment and reduce your carbon footprint.
* Under the Solar Energy Grant Program, each party is only entitled to the amount stated on a grant offer. Projects that received a grant offer at the lower amount are not entitled to receive the higher grant amount if the project is completed after July 1, 2008. Recipients of grant offers, who have not received payment, may apply for the higher grant amounts by submitting a new application, however funds are limited.
For additional information, email meainfo@energy.state.md.us or call 1-800-72ENERGY.
Program Update
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