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Clean Energy, Clean Environment

We are at a cross roads in human history, we can choose to continue on as we have been, or we can make a change to improve our future and quite possibly the future for several generations to come. We are here to promote energy independence, a better environment, a secure future and a higher return on investment for your hard earned dollar. It is what I believe in, it is why I am in the solar business.

Renewable tax credits extended for 8 years

03 Oct 08 | Solar Hot Water, solar thermal

Congress passed and the president signed HR 1424 “Emergency Economic Stabilization Act.” This is also known as the “Wall Street Bail Out bill.” Said bill also provided an extension of the renewable energy tax credits for businesses and home owners.

Here are some of the renewable energy highlights:

  1. Extend for 8 years the 30-percent tax credit for both residential and commercial solar installations.
  2. Eliminate the $2,000 monetary cap for residential solar electric installations, creating a true 30-percent credit.
  3. Eliminate the prohibition on utilities from benefiting from the credit.
  4. Allow Alternative Minimum Tax (AMT) filers, both businesses and families, to take the credit.
  5. Authorize $800 million for clean energy bonds for renewable energy generating facilities, including solar.

The bill also provided for tax relief to manufactures of wooden arrows or some such.  The wooden arrow people are probably happy too.  Right now I picture them calling each other on the phone and saying “…yeah, and some thing or other about solar power or whatever.”

Anyway.

I am happy with the extension and the removal of the $2,000.00 cap.  It seems that solar manufacturer’s are also breathing a sigh of relief.  Hopefully those solar thermal panel people will tool up and start expanding capacity.  This panel shortage is a real pain

Related posts:

  1. Congress passes Clean Energy Tax credits
  2. Renewable energy as an investment
  3. Renewable Energy Business viability

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03 Oct 08 | Solar Hot Water, solar thermal
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