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Solar incentive credits to expire at year's end

Posted June 17th, 2008 by Sandy Young

In six months the investment tax credits, meant to stimulate investment in solar energy, and the production tax credit, meant to encourage investment in wind energy, are set to expire unless congress makes them a priority and renews them.

So far the quarreling in Congress hasn't abated.

If you haven't had an opportunity to read Thomas Friedman's op-ed piece that ran in The New York Times in late April, I'm recommending it and providing a link.

Also, and more importantly, here are links to the Senate and to the House of Representatives. Let them know where you stand on solar incentive programs.

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Tax credit extension is good news for homeowners

On October 9th, 2008 michael says:

There's some welcome news in the Wall Street bailout package signed by the President in early October. The bailout included an eight-year extension of a 30% tax credit for residential homeowners and commercial businesses that purchase rooftop solar systems. It also granted an eight-year extension of the investment tax credit for solar businesses.

What is most germane for residential customers is a provision in the bailout bill that removes a $2,000 cap on the tax-credit benefit. For families that buy the average rooftop solar system at a cost of between $25,000 and $30,000, the change means they'll get a much bigger rebate. Instead of a $2,000 tax credit for a system, homeowners would be looking at a tax credit of around $9,000.

This is pretty exciting news for potential solar customers (and companies). Now let's just hope that the federal government isn't so broke after the Wall Street bailout that it can't afford to maintain this tax credit for the next eight years!

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