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30% cash payment to install solar panels?

Is it really raining money for people who install solar panels? Yesterday, at the Denver Museum of Nature & Science President Obama first toured the museum’s solar panel installation right before he singed the American Recovery and Reinvestment Act, into law. The 787 billion dollar stimulus package is very supportive of energy efficiency and renewable energy. The most interesting incentive in the energy section of the stimulus package is the federal tax credit of 30% for installing solar panels is now going to be offered as a 30% solar grant. This means, within 60 days of installing a solar electric system the U.S. Treasury Department will send you a check for 30% of the total installed cost. Isn’t that unbelievable?! For the first time ever the federal government will give you a cash payment to install solar panels! Sounds too good to be true. There is a lot of uncertainty behind how the “federal solar grant” is going to really work since the administration has not drafted the terms yet, which is expected to be completed within 30 to 60 days. Rumors are flying around as people are guessing how this incentive is going to be formulated. People are saying residential installations will not qualify for the 30% federal solar grant only corporations will be able to snap up free money to install solar panels, bummer for homeowners. Also the solar grant maybe taxable as income on the state level, but it’s all speculation until the administration clearly defines how it’s going to work. I sure hope everyone who installs solar panels both homeowners and businesses will qualify for the grant. It would be unfair to exclude individuals, since they’re taxpayers too. Don’t you agree? What have you heard about the historic solar grant? What do you think about the 30% solar...

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2009 marks increased discount for solar energy

image credit “SMA Solar Technology AG” Well, its 2009 and everyone is worried about the economy as we conclude last year. Although today, marks a highly anticipated day for customers considering to lower their energy bills in 2009. Late last year the congress extended and increased the federal tax credit for people who install solar panels to generate electricity or provide heat. Starting January 1st, 2009 homeowners in the USA can tax a full 30% tax credit off the final installed cost of a solar energy system. For people with a taxable income, the return on investment for solar energy systems subsidized through a 30% tax credit is going to make solar a very attractive investment. What do you think? Will the increased residential tax credit for the next 8 years encourage more people to use solar energy technologies on their...

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Renewable Energy Tax Credits Extended!

Woo Hoo! The Solar and Small Scale Wind Power tax credit has been extended for 8 years today! This is a major relief for the renewable energy industry because many people were worried that congress would not pass the tax credit and the industry would go into a downward spiral after December 31st, 2008. The house of representatives extended the renewable energy tax credits packaged together with the highly controversial bailout bill. The renewable energy provisions included: Extends for 8 years the tax credit for both residential and commercial installations. Eliminates the $2,000 cap for residential solar power installations, thus allowing home owners to realize a full 30% tax credit! Allows families who have hit the Alternative Minimum Tax (AMT) can still claim the renewable energy tax credit. Although a great day for America’s energy independence movement, the extension of the renewable energy tax credit will lead to millions of new “green” jobs over the next 8 years. I’m happy to hear that the tax credit was finally approved, its been kicked around in congress for over a year without any luck, it took this country a financial meltdown for it to pass because the senate on Tuesday stuck the renewable energy tax credit in the economic bailout bill. This is a double edge sword, its great to see green energy industry getting a boost, but at the expense of also bailing out wall street for the mistakes they have made, which is privatizing profits and socializing losses. Please...

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The information every solar power customer wants to know.

Rebates, tax credits and incentives, what do you qualify for? That is critical element every shopper for solar panels or wind power systems are looking for. As clean energy specialists we get asked that question everyday, and the answer is completely different depending on the area you live in. The federal tax credits are standardized across the USA, although the Rebates and other incentives you may receive differ from state to state and even on the localized level. For example, some cities within California offer incentives on top of what the federal tax credit and state rebates. So how do you figure out what you qualify for? Well you can obviously call us, but there is a better way to do the research for yourself. Since the total amount you will receive depends on the actual location of the clean energy system installation, there is a free website, called DSIRE (Database of State Incentives for Renewables & Efficiency) that makes it easier for consumers to quickly figure out what money they can get back for not only renewable energy but energy efficiency upgrades you do to your home or business. DSIRE is a comprehensive source of information on state, local, utility, and federal incentives that promote renewable energy and energy efficiency. The website database is simple to use, just click on your state to learn about all the incentives available in your local area and the state itself. If you click on the entire map of the USA, you will be able to research the federal rebates that you qualify may qualify for, simple as that. DSIRE is such a great resouce for consumers and the industry alike, since there is not a standardized program for the entire USA yet, without DSIRE it would be a nightmare figuring out how much money you can get back. So what do YOU qualify for? Go through the website and let us...

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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...

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