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As I read the sentence, it would be $0.11 plus whatever's in there from California's incentives. It looks to me like the 30% only refers to the federal subsidy.

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The last link in the article seems to answer this:

"A 100-kilowatt Bloom server array costs around $700,000 to $800,000, or $7,500 a kilowatt, after incentives that cover around 50 percent of the costs"

http://www.greentechmedia.com/articles/read/bloom-vs.-solar-...

Ya.. it seems like a rather marginal savings really (without the credit).

This in itself is remarkable. Even if costs are at parity, this is still amazing given that the technology is continuing to improve / scale. I'd be curious / suspicious as to the discount rate they are using to calculate the present value of long term costs - this is where they can manipulate the numbers in their favor.

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