Thursday, February 3, 2011

Governement Incentives Lower Your Home Solar Installation Cost by Up to 50%


Government incentives are given to families who would install solar energy in their homes. This indicates that the government is fully convinced of the benefits of the technology This move is equally supported by the industry, educational institutions and the private sector. Yes, federal tax credit and state tax rebate await those who want to build or acquire their own Home Solar System.

1.     1   The Emergency Energy Policy Act of 2005 offers a tax credit of 30% for photovoltaic system (solar home energy) and water heater with a tax credit ceiling of $ 2,000. This Act expired on December 31, 2007.

2.   2The Emergency Economic Stabilization Act of 2008 extended the expiration of Emergency Energy Policy Act of 2005 to December 31, 2016. This Act offered the same tax credit and increased the tax credit ceiling by removing the $ 2,000 limit.

3.   3. A growing number of states offer energy incentives usually in the form of tax rebates. The amount varies from state to state. 

4.  Other incentives from private companies and organizations may also be available. You may inquire from your local energy office.

5.  One of the provisions of American Recovery and Reinvestment Act of 2009 confirms that homeowners who go solar using municipal financing can receive the federal solar rebate

Federal tax credit and state tax rebate combined, reduces your installation cost by up to 50%. This is one of the reasons why home solar adoption in some states have increased significantly. The other reason is the tremendous benefits that home solar bring to the family.

A great resource for getting comprehensive details of your state incentive program is the Database of State Incentives for Renewables and Efficiency (DSIRE). Incentives from all sources (government and private) must be known to you since this is important in your decision to acquire a system at home.

About the Author

Did you find the article useful? There are more in our Informative Solar Article page. Jacinto Demonteverde, Jr., the owner, is a strong advocate of solar power adoption. URL: justsolarhome.blogspot.com. He writes practical articles to keep established and prospective solar users well informed. You are welcome to republish or reprint this article free of charge provided the content remains unchanged including the Author’s Box. No permission is needed.




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