The Department of Energy recently announced that the 30 percent federal solar tax credit, which is available to residents and businesses, has been renewed for eight more years, effective through Dec. 31, 2016. The department also removed the $2,000 cap that was placed on the 2008 credit.
“That’s wonderful news for those wanting to install a larger system,” said South Coast Solar CEO Tucker Crawford, speaking this week at a Global Green panel discussion on energy-efficiency financial incentives. Crawford, whose company installs solar systems, added that to receive the cap-free credit, one must wait to install the system in 2009.
The expanded federal tax credit falls on top of an existing 50 percent state tax credit for solar panel systems. That tax incentive, which is available only for homeowners, condo owners and owners of apartment buildings, has no sunset clause, so consumers can look forward to saving up to $12,000 on a solar panel system in 2009 and beyond.
This is a great opportunity for New Orleans to take the lead in solar initiatives.
All deference to Brad and his Lower 9th ward initiatives, this is the sort of inertia buster we really need.
