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Thanks to the passing of the American Recovery and Reinvestment Act of 2009, the Georgia Clean Energy Tax Incentive of 2008 (HB 670), and the Georgia Clean Energy Grants Bill of 2009 (HB 473), some great incentives are available to offset the cost of an installed solar thermal system. The federal government offers a 30% income tax credit with no cap for a residential or commercial system. Furthermore, the state of Georgia offers a 35% tax credit with a $2,500 cap for a residential system and with a $100,000 cap for commercial. Grants from the federal government (30%) and from the Georgia state government (35%) are also available for businesses that prefer grant money to tax credit incentives! Please check out the Database of State Incentives for Renewables and Efficiency (dsire) web site for more details regarding both federal and state incentives.
Techno-Solis Flat Plate Solar Thermal System
An installed Techno-Solis flat plate system with storage tank capable of heating 80 gallons of water per day will typically cost around $6,000 installed which includes materials, shipping, and installation. Sales tax is not included. Prices will vary based on installation requirements and collector and storage tank sizes. Water heater sizes can be scaled up or down as needed.
Below is an example scenario of your cost for a residential Techno-Solis flat plate solar thermal system with tax credits (for Georgia) applied:
| Estimated installed system cost w/ tax |
$6,280 |
| Federal tax credit (30%) |
-$1,884 |
| GA State tax credit (35%) |
-$2,198 |
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| Final |
$2,198 |
Commercial systems also have the added benefit of being eligible for accelerated depreciation. Below is an example scenario of your cost for a commercial Techno-Solis flat plate solar thermal system:
| Estimated installed system cost w/ tax |
$6,280 |
| Federal grant or tax credit (30%) |
-$1,884 |
| GA State grant or tax credit (35%) |
-$2,198 |
| Federal MACRS Depreciation (over 5 years) |
-$1,653 |
|
| Final |
$545 |
Apricus Evacuated Tube Solar Thermal System
An installed Apricus 30 tube system with storage tank capable of heating 60 gallons of water per day will typically cost around $8,000 installed which includes materials, shipping, and installation. Sales tax is not included. Prices will vary based on installation requirements, how many tubes are needed, as well as other variables such as whether or not a new storage tank is necessary. Water heater sizes can be scaled up or down as needed. For example, installation of an additional 30 tubes is approximately an additional $2,500.
Below is an example scenario of your cost for a residential Apricus 30 tube solar thermal system with tax credits (for Georgia) applied:
| Estimated installed system cost w/ tax |
$8,420 |
| Federal tax credit (30%) |
-$2,526 |
| GA State tax credit (35%) |
-$2,500 |
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| Final |
$3,394 |
Commercial systems also have the added benefit of being eligible for accelerated depreciation. Below is an example scenario of your cost for a commercial Apricus 30 tube solar thermal system:
| Estimated installed system cost w/ tax |
$8,420 |
| Federal grant or tax credit (30%) |
-$2,526 |
| GA State grant or tax credit (35%) |
-$2,947 |
| Federal MACRS Depreciation (over 5 years) |
-$2,216 |
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| Final |
$731 |
The tax credit and depreciation examples above are only meant to serve as examples and may or may not apply to your specific situation. Green Point cannot guarantee that all tax incentives can be obtained by our customers. Please check with your tax professional to verify what sort of tax incentives are available to you. Also, the Georgia state tax credit requires pre-approval by the state and total credits for all taxpayers in the state is limited to $2.5 million per year, so reserve early.
The prices mentioned above are not price quotes and are only intended to give you an idea of estimated cost. Please contact us to request a price quote or for additional information.
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