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Renewable Energy Resources for the Residential Home:

Incentives

As this information changes on a fairly constant bases due to funding, interest, and regional markets we will do our very best to keep this information as current as possible.

Federal Level:

Federal Loan Program by the Veterans Housing Guaranteed and Insured Loans.  Eligible Efficiency Technologies include equipment insulation, heat pumps, caulking/weather-stripping, building insulation, windows, doors, and roofs.  Renewable resources and other technologies that are eligible include passive solar space heat, solar water heat, solar space heat.  Persons eligible to apply are Veterans, Retired Service Personnel, Unmarried Surviving Spouses or Veterans.  Program is strictly for personal home.  Amounts available will vary with a maximum limit between $3,000.00 and $6,000.00.  The Department of Veterans Affairs guarantees 50% of the loan.  This is granted under federal code 37 USC §3710 which was enacted on 10/28/1992.  You can gain more information View federal grants for veterans housing

Energy Efficient Mortgage is a Federal Loan Program which does not identify specific technologies, but does include passive solar space heat, solar water heat, solar space heat, photovoltaics, and daylighting.  This applies for all residential applicants.  These loans are insured through the FHA or VA program.  The FHA allows lenders to add up to 100% of energy efficient improvements to an existing mortgage loan by insuring a loan of up to 5% of a home appraised value or $4,000.00 which ever is greater, not to exceed $8,000.00.  FHA mortgage limits vary by county/state and the number of units in a dwelling.  View FHA Lending Limits to learn more about your specific situation.  The VA insures EEMs to be used in conjunction with VA loans for either the purchase of existing dwellings or refinancing loans secured by the dwelling.  Homebuyers can borrow up to $3,000.00 if only documentation of improvement costs or contractor bids is submitted, or up to $6,000.00 if the projected energy savings are greater than the increase in mortgage payments.  For more information on Veterans Home Loan Eligibility applicants should secure a certificate of eligibility from their local lending office.

Personal Tax Credit under IRS form 5695:  Residential Energy Tax Credits under the Energy Policy Act of 2005 established a 30% tax credit up to $2,000.00 for the purchase and installation of residential solar electric and solar water heating property.  An individual can take both a 30% credit up to the $2,000.00 cap for a photovoltaic system and a 30% credit up to a separate $2,000.00 cap for a solar water heating system.  A 30% tax credit up to $500.00 per 0.5 kilowatt (kW) is also available for fuel cells.  Initially scheduled to expire at the end of 2007, the tax credits were extended through December 31, 2008, by Section 206 of the Tax Relief and Health Care Act of 2006.

State Level:

There is one spot to gather this information and it is the Missouri Department of Natural Resources. http://www.dnr.mo.gov/energy/renewables/solarroofs.htm

In Missouri, energy prices for electricity and heating fuels tend to fall below the national average. Therefore, installation and use of solar energy technology presents economic challenges. At this time, there are no state financial incentives for solar energy equipment purchase or installation. However, the new Energy Policy Act of 2005 includes financial incentives for solar hot water and photovoltaic systems for the years 2006 and 2007. The act provides a 30 percent tax credit for both residential and business installation of solar technologies. Note that for residential systems there is a $2,000 limit for each technology but for business there is no limit. Also, pool heaters are not covered. The IRS rules regarding the use of these tax credits are not yet available so some details are unknown. The Solar Electric Industries Association has created a useful Frequently Asked Questions document about the federal solar tax credits. Go to the International Renewable Energy Council's Web site and click on "State by State Incentives" for more information on Federal Incentives.

A bill was introduced in the Missouri General Assembly (HB 1684) in 2004 that proposed a tax credit of up to 25 percent (up to $7,500) of the cost to purchase and install a small renewable energy system (up to 100 kW) to generate electricity. The bill did not pass. Here is a link to the bill - http://www.house.state.mo.us/bills041/bills/hb1684.htm.

If you are interested in Missouri adopting renewable energy policies, you may wish to contact your state senator and representative. You can get contact information for your legislators by going to the State of Missouri General Assembly Web site.

Our Governor has worked fairly hard to incorporate incentives for the purchase and installation of Renewable Resources, but the wheels often turn slowly.  However, with Columbia Missouri pushing for a solution to the net metering issue and following the California Energy Commissions guidelines at several levels it is very feasible to do a system that is tied into the grid power.  This would allow you to use Renewable Resources during Peak hours of usage, freely and only pay for grid usage during off peak hours which is sold at a lower rate.

Further, The state does not currently have a building or energy code established.  Each jurisdiction has its own authority to adopt its own code. 

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Last modified: 22-Feb-2008