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Bailout Bill Passing Could Mean Big Incentives for Renewable Energy
Solar power, far less economically viable than wind turbines, had the most to gain from the bailout bill in the US congress. 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 extends the 30% credit for 8 years and 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. - Read More
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Topics : Finance