Norwich Solar provides turnkey services for commercial solar electric customers including: Development, Design, Engineering, Procurement, and Construction, Power Purchase Agreements, Structured Financial Solutions and Long-Term Operations and Maintenance.
Programs for small solar, community and other renewable energy projects
In 2019, the Maine Legislature passed legislation to encourage the development of solar and other small renewable energy projects in the State. Programs are available that provide opportunities for both residential and non-residential customers to participate in these projects, including ones that allow customers to share the costs and benefits of small solar or other types of renewable energy, sometimes referred to as “Community” projects.
There are two programs available for small solar and other renewable energy projects: Net Energy Billing (NEB) and Distributed Generation (DG). Within each program, there are structured opportunities for both residential and non-residential customers.
NEB Kilowatt-Hour Credit program: Available to residential, commercial, and industrial customers. Customers may choose to have their own project or to share in a project with other customers. Provides kWh credits on participating customers’ electricity bills.
NEB Tariff Rate program: Available to non-residential customers. Customers may choose to have their own project or to share in a project with other customers. Provides dollar credits on participating customers’ electricity bills.
Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in certain property through depreciation deductions. Renewable energy technologies are classified as five-year property under the MACRS.
100% FIRST-YEAR BONUS DEPRECIATION
Equipment placed in service after September 27, 2017, and before January 1, 2023, can qualify for federal 100% bonus depreciation in the first year.