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Solar Incentives - now more reasons than ever to go SOLAR!
1. TAX CREDIT EXTENDED AND INCREASED!
Now is a great time to get started with solar. Bundled into last October's $700 billion "bailout bill" passed by Congress was an 8 year extension on the current solar tax credit. The bill - which was attempted nine times by congress before passing - is a dramatic increase from the previous cap of $2,000 to an uncapped 30% tax credit. The total tax credit package, which increases or extends certain renewable-energy credits for solar, wind, and geothermal power, is estimated to be worth $17 billion over eight years.
The tax incentive has benefits for homeowners and business owners alike. The tax incentive makes solar energy an ever more viable investment - especially when considering the downturn of the stock market, rising costs of electricity, and rising rates for natural gas.
A study done by Navigant Consulting (commissioned by Solar Energy Industries Assoc.) predicted that the tax credit would result in 444,000 new jobs and $325 billion invested in solar companies over 8 years. The study also predicted that by 2016 more than 28 gigawatts of electricity - power for more than 7 million homes in the U.S. - will come from solar energy. Solar Energy demand has grown at about 30% per annum over the past 15 years (hydrocarbon energy demand typically grows between 0-2% per annum).
Further information on solar tax incentives can be found at:
DSIRE Database of State Incentives for Renewables & Efficiency - www.dsireusa.org
SEIA Solar Engergy Industries Assoc. description of the new solar incentives in the Investment Tax Credit (ITC)
To learn more about solar energy and the new tax credits, please contact us at: firstname.lastname@example.org or 208.928.6460.
2. IDAHO PERSONAL INCOME TAX DEDUCTION.
This incentive is not as significant as the federal incentive and depends on Idaho income tax... more information at www.dsireusa.org
3. Sale of "green tags"
Receive an annual check for every KWh of electricity produced (currently at 5 cents KWh, likely to rise with Idaho Power rate hikes)
4. Protect yourself from rising electricity and oil/gas rates. The cost of solar energy produced at your home or business will never go up but it is almost guaranteed that your utility rates will....dramatically!
5. Equity in your home or business. Attractive solar energy systems should increase the value of the property more than is invested in it - paying for itself the first day that it is commissioned and then generating "free" energy every day that the sun is shining.
6. Environmental and energy independance. Solar energy, by nature of its location and the time during the day when it's produced, is distributed peak power that directly offsets Idaho Power's new coal production - the largest contributor to climate change. Energy produced through renewables also reduces our national dependance on foreign oil and gas.
7. Intangible benefit of showing friends & family your meter spinning backwards, realizing you're doing something good for the planet, sharing clean power with all your neighbors (because you're putting renewable electricity back into the grid) and getting paid for it... : priceless.
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