The University of Maryland Solar Co-op is now closed to new participants. Thank you to all of you who raised your hands and said “yes” to solar!
As covered here by the UMD Diamondback, employees, alumni, friends, family, and neighbors of the University of Maryland community are organizing a group solar purchase!
What is a bulk purchase?
A group solar program/solar bulk purchase is based on the same principal as buying in bulk. By installing solar as a group we can save on the total cost of installation.
As a group we will go through the process of purchasing solar systems together. The group will select a single contractor to install systems on all of the homes, but each participant owns their own system and will sign their own contract with the installer.
What will it cost?
System size (and, therefore, overall cost) will vary by house. Many installers also offer various financing options to further reduce the upfront cost.
While Prince George’s County does offer a tax credit for solar PV installations, there is currently a waitlist for the credit through 2017. The Prince George’s County Solar/Geothermal Property Tax Credit is worth up to $5,000 and spaced out for three total years from the approval year. It can be used against remaining taxes owed once the Homestead Credit is subtracted from county property tax, and in conjunction with the $1000 Maryland Residential Clean Energy Grant.
This tax credit has a cap of $250,000 in total tax credits given out per year for the entire county and because of this there is currently a waiting list for applications through 2017. We therefore recommend you move forward with purchasing your solar system without the PG tax credit (rather than wait for the credit to become available). The value of the 30% federal tax credit, which expires in 2016, is greater than the PG tax credit. For up to date information or to get on the wait list, please call the Prince George’s County Treasurer’s Office at 301-952-5373 or visit the online resource DSIRE by clicking here.
Check out the following resources for more info on the bulk purchase: