Project Experience
HourCar Charging Stations
The Neighborhood Energy Connection's (NEC) HourCar program features two plug-in hybrids. The NEC wanted these cars charged exclusively by solar. More>
Financial Solutions (Tax Credits)
Overview
Westwood staff has an in-depth understanding of diverse financial structures that enable tax credit investors to participate in solar energy developments. With the passage of the Emergency Economic Stabilization Act of 2008, tax credit investors can now utilize a 30% investment tax credit (ITC) until December 31, 2016. This helps enable the creation of financial scenarios which can make large scale photovoltaic systems economically viable in the Midwest and other parts of the country.
Some key points on the ITC:
- No cap to the tax credit
- No project size limitations
- Utilities can claim the credit
- Applicable to Alternative Minimum Tax (AMT)
- Photovoltaic projects still qualify under the 5 year property classification for accelerated depreciation