When Congress, (and the President), passed the new Emergency Bill last week they gave the renewable energy markets a great boost. First, they extended the tax credit for eight years, which showed investors the US is serious this time about renewable energy, giving them confidence to invest in this market. Second, they lifted the Residential cap (of $2,000) and made the incentive a true 30%.
Which means if you spend $20,000 on a solar system, you can write off, as a tax credit, up to $6,000. Coupled with State Incentives, your overall cost for the system could be as low as $11,000. For most people the Return on Investment (ROI) would be less than 5 years.
These systems are GUARANTEED to output (at least 80% of their initial wattage) for 20 years! So anything beyond your ROI is money in your pocket. Talk about a true tax break!
What if you are subject to the AMT? The New Bill allows you to take advantage of the tax credit as well.
Thank You Congress. It only took a financial meltdown to see the light.
Let us help at www.n2electric.com
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