cliaz Posted June 20, 2007 Share Posted June 20, 2007 So I’m a little upset [like most Marylanders here] about our 50% rate hike on power. I decide to check out other electric companies to see if their service would extend over to my area and I came across something interesting. All electric companies that service Maryland offer green power for more money. Example: Cost per kwt during the summer months is 0.103030000. I used 857 kwt last reading which is 88.29 base rate not including all of the fees and delivery charges and stuff. That is for coal or fossil fuel. BG&E offers to supplement your coal or fossil fuel power with wind power at 0.13768600 per kwt. Which would be $117.99 plus other fees and stuff. So I’m like “Why pay more?” Well then I stumbled across a tax credit that the state of Maryland offers for people who elect to go green with their power. Clean Energy Production Tax Credit - Personal Last DSIRE Review: 11/03/2006 Incentive Type: Personal Tax Credit Eligible Renewable/Other Technologies: Solar Thermal Electric, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Electric, Municipal Solid Waste, Anaerobic Digestion Applicable Sectors: Residential Amount: 0.85¢/kWh (0.5¢/kWh for co-fired electricity) Maximum Incentive: $2.5 million (total credit during five-year period) Carryover Provisions: Remainder of credit carried forward to succeeding taxable years until credit is used or until expiration of the 10th taxable year after the taxable year in which the credit began Authority 1: Md. TAX-GENERAL Code § 10-720 Summary: Maryland offers a production tax credit for electricity generated by wind, geothermal energy, solar energy, hydropower, small irrigation power, municipal solid waste and biomass resources. Eligible biomass resources include anaerobic digestion, landfill gas, wastewater-treatment gas, and cellulosic material derived from forest-related resources (excluding old-growth timber), from waste pallets and crates, or from agricultural sources. To qualify, a facility that "primarily uses" eligible resources to generate electricity must (1) be placed in service on or after January 1, 2006, but before January 1, 2011, or (2) generate electricity from an eligible resource that is co-fired with coal and initially begins co-firing an eligible resource on or after January 1, 2006, but before January 1, 2011, regardless of when the original facility was placed in service. An individual or corporation that applies for and receives certification from the Maryland Energy Administration may claim a credit equal to 0.85 cents per kilowatt-hour (0.85¢/kWh) against the state income tax, for a five-year period, for electricity generated by eligible resources. The credit for electricity generated by co-firing is 0.5 cents per kilowatt-hour (0.5¢/kWh). The electricity generated must be sold to an unrelated person during the taxable year. Certificates issued by the Maryland Energy Administration will state the maximum amount of credit over a five-year period and the earliest tax year for which the credit may be claimed. The maximum amount of credit is based on estimated annual energy production during a five-year period, or $2.5 million. The sum of all credits statewide may not exceed $25 million. If the credit in any taxable year exceeds a taxpayer's state income tax, the remainder of the credit may be carried forward and applied to succeeding taxable years until the credit is used or until the expiration of the 10th taxable year after the taxable year in which the credit began. Applications for credit certificates will be approved on a first-come, first-served basis. Certificates will not be issued after December 31, 2010. If, over a three-year period, a taxpayer does not claim on average at least 10% of the maximum credit amount stated in the certificate, the Maryland Energy Administration may cancel part of the certificate. Now I don’t know if it would be a good choice right now because the way I’m reading this is you don’t get the credit until 2011. But either which way I’ve started my quest to green up my house a bit [and plan on converting the N.C. home to all green]. These bulbs use less than one quarter of the energy of an incandescent bulb of the same brightness making them one of the easiest and most effective energy saving measures you can take. And then when I do this other website I will convert my hot water heater over to a solar hot water heater. Quote Link to comment Share on other sites More sharing options...
isleseeya Posted June 20, 2007 Share Posted June 20, 2007 Candles ..lots and lots of candles may help as well Quote Link to comment Share on other sites More sharing options...
Big John Posted June 20, 2007 Share Posted June 20, 2007 <--- Green Power? Quote Link to comment Share on other sites More sharing options...
Chief Dick Posted June 20, 2007 Share Posted June 20, 2007 Get a heat pump, qualify for a discounted rate from your electric company and cut your natural gas bills at the same time. Quote Link to comment Share on other sites More sharing options...
zmanzzzz Posted June 20, 2007 Share Posted June 20, 2007 ill be converting our house into a green one and hopefully get off the grid. Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted June 20, 2007 Share Posted June 20, 2007 ill be converting our house into a green one and hopefully get off the grid. i owuld like to do this also but money is getting in the way Quote Link to comment Share on other sites More sharing options...
cliaz Posted June 20, 2007 Author Share Posted June 20, 2007 ill be converting our house into a green one and hopefully get off the grid. i owuld like to do this also but money is getting in the way Yeah a 2500 sq foot home cost $38,000 to convert to solar power right now. Plus various states will add a tax to your property because it is considered to be a luxury. Quote Link to comment Share on other sites More sharing options...
Kid Cid Posted June 20, 2007 Share Posted June 20, 2007 I've been running compact flourescents in my house for about 15 years now. The only problem with them is you can't use them with a dimmer. Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted June 20, 2007 Share Posted June 20, 2007 Yeah a 2500 sq foot home cost $38,000 to convert to solar power right now. Plus various states will add a tax to your property because it is considered to be a luxury. yup i was looking at wind/solar. and geothermal and it was going to be like 35.... just cant do that... just need to win the lottery Quote Link to comment Share on other sites More sharing options...
alexgaddis Posted June 20, 2007 Share Posted June 20, 2007 yup i was looking at wind/solar. and geothermal and it was going to be like 35.... just cant do that... just need to win the lottery Screw that, if I won the lottery I would use as much conventional energy as I could! Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted June 20, 2007 Share Posted June 20, 2007 Screw that, if I won the lottery I would use as much conventional energy as I could! i would also but only to build my house out in the sticks off the grid Quote Link to comment Share on other sites More sharing options...
cliaz Posted June 21, 2007 Author Share Posted June 21, 2007 Turns out this is a really good website with lots of information. low impact living Quote Link to comment Share on other sites More sharing options...
zmanzzzz Posted June 21, 2007 Share Posted June 21, 2007 Turns out this is a really good website with lots of information. low impact living nice link. Quote Link to comment Share on other sites More sharing options...
isleseeya Posted June 21, 2007 Share Posted June 21, 2007 Yeah a 2500 sq foot home cost $38,000 to convert to solar power right now. Plus various states will add a tax to your property because it is considered to be a luxury. Amazing that using the sun would be considered a luxury...gotta love some of these states govt Quote Link to comment Share on other sites More sharing options...
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