Arkansas Energy Office Announces Approaching Deadline to Apply for Renewable Technology Rebate Fund

ARKANSAS ECONOMIC
DEVELOPMENT COMMISSION

FOR IMMEDIATE RELEASE:
December 13, 2010

FOR MORE INFORMATION:
Joe Holmes, AEDC Marketing and Communications Director
501-682-5154, jholmes@arkansasedc.com


LITTLE ROCK, Arkansas (December 13, 2010) - The Arkansas Energy Office (AEO), a division of the Arkansas Economic Development Commission (AEDC), today announced that the deadline is approaching for Arkansans to apply to receive rebates on the purchase and installation of small-scale renewable energy systems. Rebates are given on a first come, first served basis. Applications will be accepted through March 31, 2011, or when the funds for this program are depleted, whichever occurs first.

Eligible systems for the $1.78 million Renewable Technology Rebate Fund include photovoltaic (solar), wind turbine and solar hot water heating systems. Funds for this program were provided by the United States Department of Energy, through the American Recovery and Reinvestment Act of 2009.

Since the program was announced in March, 103 rebates have been allocated for a total of more than $1.43 million, creating more than $3.8 million in private investment from applicants. As of December 2010, $269,360.25 remained in the fund.

Applicants should complete and submit an application form for participation in the program prior to installation.

"The Renewable Technology Rebate Fund is making it easier for Arkansans to implement systems in their homes to improve comfort levels, save money and improve their carbon footprint in the world," said AEO Director Chris Benson. "The funds not only benefit Arkansas consumers, but also improve our efforts to develop wind and solar industries in the state. We are fortunate to have these funds available to Arkansans and encourage eligible homeowners to make the switch and apply for the rebates."

Through the Renewable Technology Rebate Fund, the state is expected to produce approximately 1,090,981 killowats per hour.

Rebates for small-scale electricity generating equipment will be paid quarterly based on one full year's actual electric production. For photovoltaic systems rebates are available in the amount of $1.50 per kilowatt hour for systems with a rated capacity of 25 kilowatts or less and 75 cents per kilowatt hour for systems over 25 kilowatts. For wind systems, rebates are available in the amount of $1.25 per kilowatt hour for systems with a rated capacity of 20 kilowatt or less and 62.5 cents per kilowatt hour for systems larger than 20 kilowatts. Additionally, applicants must obtain an interconnection agreement with their electric utility and participate in the net-metering program.

The rebate amount for small-scale solar water heating is based on the square feet of thermal collector area used for the system. Rebates are available in the amount of $30 per square foot for systems 320 square feet or less and $15 per square foot for systems larger than 320 square feet.

Additional information and application forms are available at www.arkansasenergy.org.