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Economics and Home Solar Energy
By Solar energy | October 9, 2008
Economics and Home Solar Energy
The best energy source is the one that will never run out. I look forward to the day when my home is powered by solar energy. Clean, abundant, and efficient, solar energy will be here as long as we are.
While PV technology is making great strides, installing solar power for the home still strains the budget of most Americans. Tax credits make solar more feasible for all of us. Fortunately, in the midst of the disastrous Wall Street folly, there is good news.
Renewable energy tax credits have been extended as part of the economic rescue legislation.
Highlights of the package of interest to solar home energy enthusiasts include:
- 8-year extension of the residential and business ITC (Investment Tax Credit) for solar, small-wind and geothermal systems
- Elimination of the $2000 cap on the residential ITC
- Allows utilities to obtain ITC
So if the current energy crisis compels you go solar, keep going. Now is the time.
Read the Emergency Economic Stabilization Act of 2008 (H.R. 1424) for yourself.
Topics: home solar energy, Renewable Energy Politics, Renewable Energy Tax Incentives, Solar Power | No Comments »