Cascade Built Blog
November 10, 2008
Residential Solar subsidy – tax credits
Posted by admin, 5:23 PM
As part of the Wall Street bailout package passed by congress this fall, solar tax credits got a long awaited major boost: an 8-year extension of the program through 2016, and elimination of the previous cap on residential systems. Past extensions had been for shorter periods, making it difficult for businesses to commit to expansions to support new business, and with the residential incentives previously capped at $2,000, the effective support level was much lower than the stated thirty percent. Now that the credit cap is lifted, in combination with state and local incentives, as much as 50% of the system can be subsidized. Additional support was included for R & D, energy conservation measures, and renewable energy financing.
