CAI-NJ Jan. 2019 (w)

ENERGY COSTS... from page 32.

While the cost of PV (Photovoltaic (solar) system) has dropped dramat- ically over the past few decades, it is still considered an ‘emerging technology’ with societal and envi- ronmental benefits and as such finan- cial incentives are often available to encourage further development. The largest of these benefits is generally the Federal Investment Tax Credit (ITC), which provides a 30% tax credit to the homeowner of a new PV system. In addition, many state and local governments have incentive programs to support the develop- ment of solar energy (information on various renewable energy incentive programs can be found here: http:// www.dsireusa.org). Developers like DRV who specialize in solar for com- mon-interest associations can not only help decision-makers navigate the incentive landscape, but also provide specific financing structures designed to help HOAs and Condos maximize their savings. “We think that common-interest developments have been unnecessar- ily left behind in the solar revolution of the past decade.” says Andrew Truitt, co-founder of DRV. “While there are some unique aspects to developing solar in this sector, we know HOAs and Condos value sta- ble, long-term electricity cost savings, so we’ve developed a structure that provides that.” PV system is reliable, sustainable and generally the cheapest way to satisfy our insatiable thirst for more energy. However, PV system alone

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