Orlando Utilities Solar Incentives

Orlando Utilities Solar Incentives
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  (/)  ã   ã   ã   Solar Incentives OUC’s solar incentives include Net Metering andproduction credits for solar PV systems. Net Metering  Any time a customer’s solar PV system generates moreenergy than the home/business can use, the excessenergy will flow out to the OUC grid and OUC willpurchase the kWhs from the customer at thecustomer's retail electric rate. Photovoltaic Credit Program Once the solar PV system passes the required inspections, customers receive a monthly credit on their OUCbill of 5.0 cents per kWh produced by the solar system regardless of whether the energy was used by thecustomer or sent back to the OUC grid. To provide customer credits, OUC requires the solar installer toprovide and install a steel electric meter base with the solar system. Solar Thermal Incentive Program - Residential OUC offers residential electric customers a Point of Sale rebate of $1,000 that your contractor will provide atthe time you purchase your solar hot water system. Pool heating systems are not included in the program.Through a pertnership with the Orlando Federal Credit Union (OFCU), OUC also offers an option to financeyour solar hot water system for as low as 0 percent over 36 months. Customers who choose to financethrough this special program receive a Point of Sale rebate of $550 in addition to OUC's interest ratebuydown on the loan. All participants must use an OUC Preferred Contractor. Solar Thermal Incentive Program – Business Once the solar Thermal system passes the required inspections, customers receive a monthly credit on their OUC bill of 3.0 cents per kWh produced by the solar system. OUC also process a one-time $250 credittowards the installation of the BTU meter on the OUC bill. Federal Tax Credits MENULOG IN Home(/home) Environment & Community (/environment-community) Solar (/environment-community/solar)Solar Incentives (/environment-community/solar/solar-incentives)  The Energy Policy Act of 2005 (H.R. 6, Sec. 1335) established a 30 percent tax credit for the purchase andinstallation of residential solar electric and solar water heating property. An individual can take both a creditfor a photovoltaic system and a credit for a solar water heating system. Initially scheduled to expire at theend of 2007, the tax credits were extended through December 31, 2016, by Section 1122 of The AmericanRecovery and Extension Act of 2008 (H.R. 1). Please check with your tax advisor to verify your tax savingsprior to the purchase and installation of a solar system. For more information, visit the Energy Policy Act of 2005 on the IRS website (http://www.irs.gov/uac/Highlights-of-the-Energy-Policy-Act-of-2005-for-Individuals) or contact the Internal Revenue Service directly at 800. 829.1040. To learn more, visit the taxcredits page of the Energy Star website (http://www.energystar.gov/index.cfm?c=tax_credits.tx_index). OUC Low Interest Loan with the Orlando Federal Credit Union Orlando Utilities Commission has partnered with Orlando Federal Credit Union (OFCU) to provide OUC’sresidential customers with low interest loan options for installing Solar Photovoltaic (PV) or Solar ThermalSystems. Below are the low interest loan rates and terms for each of the solar programs. Solar Thermal Systems ($7,500 maximum loan amount) Terms (months) Rate (APR) 36 0.00%60 2.75%84 4.00% Solar PV Systems ($20,000 maximum loan amount) Terms (months) Rate (APR) 36 2.00%60 4.00%84 4.75%120 5.50% Rates & Terms The rates and terms above are subject to change. To pre-qualify and verify the current rates and terms, pleasecall 407-835-3500 option 1. Customer does need to become a member of OFCU to apply for the loan.Financing subject to credit history and credit score. Loan-to-value and maximum combined loan balancerequirements apply. Property requirements: Must be owner occupied  Borrower(s) must be on title to property.Property types:Single Family HomeTownhouse Duplex * The low interest loans are available to OUC’s residential customers only. To learn more information, please visit the OFCU loan website on Green Loans(https://www.orlandofcu.org/loans/greenloan.asp). Copyright © 2014 Orlando Utilities Commission. All rights reserved.
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