The federal bail out bill also included legistlation to extend the federal investment tax credit for solar energy. It also removed the $2000 cap, and so it is now 30% of the price of the system.
What does this mean for you?
Well, it means solar pencils out better for everyone $ wise.If you are getting solar installed this year, you can possibly talk to your installer about holding on to the interconnection paperwork until 2009 so you can claim the beefier credit, although they may ask you to float the state rebate for a bit since they can’t get the state rebate money for their company until they file the interconnection paperwork…. this will probably be way worth it in most cases.The most important thing is that it was extended for 8 years, which means we can actually build industry around it instead of having wishy-washy incentives that get patched or revoted on every year. HOORAY!
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