People are rushing to complete their solar / wind projects!
The sun is setting on the US federal tax credit on December 31, 2008, considering we’re in July already, we only have 5 months in the USA to take advantage of the federal tax credit. Corporations receive a 30% tax credit while the residential market is capped at $2,000. Many people and large projects are rushing to complete their projects right now because in order to qualify for the tax credit the solar or wind power systems must be in operation by the end of the year.
So what does the expiration of the federal tax credit mean for the industry and you? Many companies in the industry are preparing to change strategy next year, more companies are looking to diversify into international markets and scale down their labor force. That means people in the US solar industry will get laid off next year if the credit does not pass.
For you, it means if you install a solar or wind power system by the end of this year you are going to qualify for a discount on your system. So you better hurry, stop waiting, get your system while the discount still applies, especially if your on the fence in the decision making process about producing your own green energy.