tax refunds for solar and wind power?
The American Wind Energy Association (AWEA) and Solar Energy Industries Association (SEIA) had a conference call recently to talk about restructuring of the wind and solar tax credits to make them more favorable in today’s bear market. In October of last year, congress extended wind and solar power tax credits and removed the $2,000 cap on residential installations.
Although the extension of the tax credits for wind and solar power was a positive step towards helping renewable energy become mainstream, not everyone can take a tax credit, you have to have a tax liability to take advantage of a tax credit and putting today’s economy into perspective, not many people are going to be able to take advantage of the credit. The solar and wind industry associations are encouraging Congress and the Obama administration to covert the tax credit into a tax refund.
A tax refund is the mother of all financial incentives because it would mean the federal government would send you a check for installing a wind turbine or solar panels, the results of converting the tax credit into a refund are obvious. Do you think the solar and wind power can convince the federal government to pay you to install a clean energy system?