SO YOU WANT TO OWN A SOLAR ELECTRIC SYSTEM? Or perhaps a wind power system? Here are some ideas how you can best afford it. A federal residential solar personal tax credit is now available in the amount of 30%, capped at a maximum amount of $2000. So if you spend $6667 on a photovoltaic system, you can get a $2000 income tax credit. This is effective immediately and ends 12/31/2007. Any excess credit may carry over to the succeeding tax year. (U.S. tax code 26 USCS § 25D). You can contact the Information Specialist at the IRS at 800-829-1040 for additional information (or visit http://www.irs.gov).
A visit to this site will provide all the information there is for state incentives: www.dsireusa.org/ You can click on a state-by-state map and see what corporate and residential programs are available, as well as information on grants, tax credits, loans, interconnection standards and net metering rules. Information about geothermal systems, fuel cells, and rebates & tax breaks on fuel-efficient appliances and vehicles is also offered.
The www.dsireusa.org/ web site is updated each week with the addition of new programs and the verification of or changes to existing programs. It is currently the best state-by-state resource you can use to determine what incentives are available for your project. www.energytaxincentives.org offers information to educate consumers and businesses on energy efficiency.
You can view information about wind at www.eere.energy.gov/windandhydro/windpoweringamerica/ including wind maps, anemometer loan programs, small wind guides, legislative briefings, wind working groups, and state-specific news. You can also find additional information about wind power, including financing, at http://www.awea.org/ Another excellent site for home & business improvement in energy savings, efficient appliances, resources and utilities is www.energystar.gov and www.aceee.org
At this time, renewable energy projects are simply becoming more commonplace. Many of our customers are finding out that this technology is not so esoteric, and are simply rolling their RE investment into their conventional mortgages. Speak with your banker or financing institution to see what can be done for your situation. And here’s another incentive: a 1998 study commissioned by the Environmental Protection Agency found that a home's value rises an average of $20 for each $1 decrease in the annual utility bill. |
