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. |
