UW Extension: Renewable and Efficient Energy :: Incentives

FAQs | News | Contact

UW Home | A-Z Index

INCENTIVES:


	Incentives for Renewable Energy & Energy Efficiency Recognizing the benefits of energy efficiency improvements and renewable energy development, utilities, state governments, and the federal government provide numerous incentives. Some incentives are as easy as saving a receipt and checking a box on your taxes, while others require a detailed application. The most commonly applicable incentives are summarized here. More detailed information is available at from the Department of Energy and North Carolina State Database of State Incentives for Renewables & Efficiency. UW Cooperative Extension Service, Manufacturing Works, and the State Energy office are pleased to offer the Energy Audits and Renewable Energy Development Assistance for Wyoming program. The partnership offers heavily discounted energy audits and renewable energy valuations for rural small businesses and agricultural producers through a USDA Rural Development pass-through grant. All areas of the state, except for Cheyenne are eligible. A $1000 audit/evaluation can be obtained for $250! Please contact us for more information! Residential Energy Efficiency Incentives Commercial Energy Efficiency Incentives Residential Renewable Energy Incentives Commercial Renewable Energy Incentives Communities and Nonprofits Agricultural Producers Residential Energy Efficiency Incentives Utility Incentives: Black Hills Power – Rebates What: Heat pumps, electric heat, and water heaters Carbon Light & Power – Rebates What: Heat pumps, motors, and water heaters Cheyenne Light, Fuel, & Power – Rebates What: Boilers, furnaces, heat pumps, programmable thermostats, water heaters, & residential home performance audits Powder River Energy Corp – Loans at 0% up to $2500 What: Clothes washers, dishwashers, electric thermal storage, heat pumps, insulations, lighting, and windows Rocky Mountain Power – Rebates What: Ceiling fan, clothes washers, dishwasher, duct ceiling, heat pumps, insulations, lighting, and windows Don’t see your utility on the list? You should still contact these organizations to see if they can assist with your renewable energy or energy efficiency project! State Incentives: LIEAP Weatherization – Grant Who: Low income household qualifying for LIEAP Assistance What: Doors, caulking/weather stripping, furnaces, insulation, programmable thermostats, windows, etc. Wyoming Energy Savers Loan Who: Low income households What: Doors, caulking/weather stripping, furnaces, insulation, programmable thermostats, windows, etc. Federal Incentives: Energy Efficient Mortgages – Loan What: Enhanced ability to finance EE improvements into an existing FHA or VA loan Residential Energy Efficiency Tax Credit – 30% tax credit with $500 maximum What: Tax credit for qualifying air conditioners, biomass stoves, boilers, doors, furnaces, heat pumps, insulation, roofs, & water heaters. Includes equipment and installation. Residential Energy Conservation Subsidy Exclusion (Personal) – Tax Deduction What – Exclusion of any rebates or subsidies provided by utilities from taxable income. Commercial Energy Efficiency Incentives Utility Incentives: Black Hills Power – Rebates What: Rebates for heat pumps and water heaters Carbon Light & Power – Rebates What: Rebates for heat pumps, motors, and water heaters Powder River Energy Corp – Loans at 0% up to $2500 What: Loans for clothes washers, dishwashers, electric thermal storage, heat pumps, insulations, lighting, & windows Rocky Mountain Power – Rebates What: Rebates through the FinAnswer and FinAnswer Express program for agricultural equipment, air conditioners, caulking/weather-stripping, chillers, heat pumps, programmable thermostats, insulation, lighting, lighting controls/sensors, motors, roofs, windows, and others with approval State Incentives: Small Business Energy Audit Program What: Up to 75% cost share through the State Energy Office for the completion of energy audits. UW CES Energy Audits and Renewable Energy Development Assistance Program What: Receive a $1000 energy audit with financial analysis for $250 through a USDA Rural development grant received by UW CES. Available in all areas of the state, except Cheyenne (due to USDA Rural Development regulations), for small businesses and agricultural producers. Federal Incentives: Energy-Efficient Commercial Buildings Tax Deduction What: Tax deduction of up to $1.80 per square foot for new and existing buildings installing qualified air conditioners, boilers, caulking/weather-stripping, chillers, doors, duct/air sealing, furnaces, heat pumps, insulation, lighting, lighting controls/sensors, siding, roofs, windows, and other comprehensive/whole building measures. USDA - Rural Energy for America Program (REAP) Grants & Guaranteed Loans Who: Rural small businesses, agricultural producers, and electric cooperatives. Generally areas with a population of less than 50,000 are eligible (all areas except Cheyenne). What: 25% grant up to $250,000 and guaranteed loans up to $25 million for many energy efficiency improvements. Also provides 25% grants up to $50,000 for energy audits. Residential Renewable Energy Incentives Utility Incentives: Black Hills Power – Rebates What: Geothermal heat pumps Carbon Light & Power – Rebates What: Geothermal heat pumps Cheyenne Light, Fuel, & Power – Rebates What: Geothermal heat pumps Powder River Energy Corp – Loans at 0% up to $2500 What: Renewable energy system including wind, solar, hydroelectric, geothermal heat pumps, etc. Rocky Mountain Power – Rebates What: Geothermal heat pumps State Incentives: Sales Tax Exemption for Renewable Energy Equipment Who: All Wyoming residents and businesses What: Solar thermal electric, photovoltaics, landfill gas, wind, biomass, hydroelectric, geothermal electric, fuel cells, small hydroelectric, fuel cells using renewable fuels UW CES Energy Audits and Renewable Energy Development Assistance Program What: Receive a $1000 renewable energy evaluation with financial analysis for $250 through a USDA Rural development grant received by UW CES. Available in all areas of the state, except Cheyenne (due to USDA Rural Development regulations), for small businesses and agricultural producers. Federal Incentives: The federal government provides a range of residential incentives, mostly through lowered tax liability. Residential Energy Efficiency Tax Credit – 30% tax credit, no maximum What: Tax credit for geothermal heat pumps, solar PV, solar hot water, and wind Residential Energy Conservation Subsidy Exclusion (Personal) – Tax Deduction What: Exclusion of any rebates or subsidies provided by utilities from taxable income. Commercial Renewable Energy Incentives Utilities: Black Hills Power – Rebates What: Geothermal heat pumps Carbon Light & Power – Rebates What: Geothermal heat pumps Powder River Energy Corp – Loans at 0% up to $2500 What: Renewable energy system including wind, solar, hydroelectric, geothermal heat pumps, etc Rocky Mountain Power – Rebates What: Geothermal heat pumps State: Sales Tax Exemption for Renewable Energy Equipment Who: All Wyoming residents and businesses What: Solar thermal electric, photovoltaics, landfill gas, wind, biomass, hydroelectric, geothermal electric, fuel cells, small hydroelectric, fuel cells using renewable fuels Federal: Modified Accelerated Cost-Recovery System (MACRS) What: Provides for rapid depreciation (generally five years) of most renewable energy systems Business Energy Investment Tax Credit (ITC) What: 30% tax credit for solar, wind, biomass, and some geothermal; 10% tax credit for combined heat and power, geothermal heat pumps USDA - Rural Energy for America Program (REAP) Grants & Guaranteed Loans Who: Rural small businesses, agricultural producers, and electric cooperatives. Generally areas with a population of less than 50,000 are eligible (all areas except Cheyenne) What: 25% grant up to $500,000 and guaranteed loans up to $25 million for most renewable energy systems. Also can provide 25% grant up to $50,000 for feasibility studies Communities and Nonprofits It is often difficult for communities to take advantage of incentives and tax credits for energy efficiency improvements and renewable energy systems. There are some creative financing methods that can be utilized. Clean Renewable Energy Bonds Who: Local Government, State Government, Tribal Government, Municipal Utility, Rural Electric Cooperative What: Effective 0% financing for renewable energy projects, but currently no bonds available. Performance Contracting What: An outside partner brings capital to pay for energy efficiency improvements or renewable energy system. The public institution or nonprofit repays the capital partner through savings brought from the improvements. Agricultural Producers Farmers and ranchers can use many of the opportunities detailed for commercial renewable energy and energy efficiency improvements, but the USDA offers additional resources at its “Energy Matrix.”