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WInd and Solar Tax Breaks

Discussion in 'Energy, Environment, and Policy' started by vfx, Oct 4, 2008.

  1. vfx

    vfx Well-Known Member

    Aug 18, 2006
    CA CA
    The "bailout" bill has some great news for Solar and Wind buyers.

    THIRTY PERCENT! :biggrin:

    Quote, "Solar power, far less economically viable than wind turbines, had the
    most to gain from the bill. The expiring incentives allowed homeowners to claim
    an investment tax credit for 30% of the cost of a new solar installation, but capped
    it at $2,000. The new law, written into the financial rescue bill, extends the 30%
    credit for eight years and, more importantly, eliminates the cap. That means that
    on a $27,000 residential solar system of 3.2 kw, a homeowner could take nearly $9,000
    off his taxes the first year."

    From this page:

  2. Joseph

    Joseph Member

    Nov 30, 2007
    South Florida
    This is awesome and all (even better news: electric and plug-in cars will get up to a $7,500 tax credit) but the bailout bill isn't really the place for all this. Well, at least they're passing some good stuff finally.

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