Get A Solar Power Tax Credit
The days of solar power being only for remote off-grid homes are over. Going green is easier and more cost effective than you might think.
The Energy Improvement and Extension Act of 2008 extends the 30% investment tax
credit for solar energy property and qualified fuel cell property through 2016.
What does this mean for you? You get 30% of your investment returned to you via your federal tax return. If your credit is more than your taxes owed, the credit balance carries forward to the next year.
Additionally this act allows for a 30% tax credit on solar hot water systems up to a limit of $2000.00 for residences.
A popular and cost effective solar panel solution is a grid-tie system. In this system the solar panels continue to provide electricity to the utility grid instead of going idle after houseloads are met.
In Washinton state, net metering is the law, meaning that every AC kilowatt hour generated by the grid tied system offsets one that would have been bought at retail from the local utility.
While the focus on tax savings is on "active" solar systems, the importance of "passive" solar systems should not be overlooked, especially in new construction.
Some passive solar concepts in building design include: orientation of the home to the sun, amount of roofline overhang and use of thermal mass to store heat (often a concrete slab.)
Solar materials are less expensive, more efficient, and lower maintanence than ever before. Check it out!