Nebraska Solar Power Rebates, Tax Credits, and Incentives
Nebraska has it all. What? you’ve never been to Carhenge? You just have to see it to believe it. Of course there are other sights in Nebraska too, like Chimney and Courthouse Rocks. Nebraska also has vineyards, hordes of cranes, and well.. corn. What Nebraska could really use though is some nice clean solar energy, to keep itself looking good. Here’s what the state’s lawmakers have been doing about renewable power.
STATE LEGISLATION
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Nebraska really has not been too busy when it comes to considering solar power legislation. In 2006, legislators passed a tax credit for renewable power generation, but it is mainly oriented toward large producers since the credit is currently $0.001/kWh and decreases gradually to $0.0005/kWh in 2018. Well, that’s about it…
NET-METERING
Nebraska has yet to establish a net-metering policy. They tried in both the 2001-02 and 2003-04 legislative sessions but had no success in passing a bill. What does that mean for your solar electricity system? Well, it means that your utility can choose to net-meter according to its own whims.
STATE INCENTIVE PROGRAMS, UTILITY REBATES, UTILITY LOANS, AND UTILITY INCENTIVES
The Dollar and Energy Savings Loan program does offer Nebraska residents the possibility of taking out a low-interest (5% or less) loan to pay for renewable energy equipment. For example, you could get a loan to pay for a good portion of your solar electricity system since residential loans are capped at between $35,000 and $75,000.
Unfortunately, you should not count on that tax credit to help pay for your solar power system. For an average user who needs 1,300 kWh each month, you could get a credit of $7.80 per year. So Nebraska locals – remember, that using solar energy is good for your state and your environment, not just as a tax break.
Check out these other rebates and incentives for renewable energy in Nebraska:
Corporate Tax Credit
* Renewable Energy Tax Credit (Corporate)
Personal Tax Credit
* Renewable Energy Tax Credit (Personal)
State Loan Program
* Dollar and Energy Savings Loans
EXAMPLE 3KW SYSTEM – HOME INSTALLATION COST
So you’ve made the right decision and chosen to install your own solar electricity system. Putting in a typical 3kW system in Omaha would cost about $54,000. You do get to take the federal tax credit of $2,000 though. Since Nebraska has a solar rating of Good, you should be able to make your system pay for itself in about 30 years (assuming 1,300kWh/month at $0.0759/kWh). You’ll also get to save about $850 each year on your utility bills and best of all, you’ll be keeping 160 tons of greenhouse gasses out of the atmosphere. Here are a few more details about your new system:
- 600 square feet of roof area required
- $10,200 estimated property value increase!
- $21,400 estimated utility savings over 25 years
- conventional electricity rates will only continue to rise, so your savings will too!
CONSENSUS
It’s about time for Nebraska to get with the program on solar energy. The state’s agricultural base needs clean power to survive. So does its wealth of cultural and natural history. Legislators have to step up to the plate or ride off into the sunset. Nebraska may have wide open spaces – let’s fill the legislative open space with solar power incentives.
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