Solar Tax Rebates vs. Credits
You are thinking about putting solar on your house. At an average price around $8 per watt installed, that is a lot of money.
But wait, if you have a big utility company like XCEL or Black Hills they will give you $2 per watt towards equipment, and another $1.50 - $2.00 per watt for your green tags, so now the price is getting to be around $5.00 a watt, which is a fairly decent price.
Of course, the banks got into trouble, and congress and the new president decided to bail them out, to the tune of TRILLIONS of dollars, some of which can be had by YOU, as either a residence or business purchasing renewable energy, like solar.
So, what is the difference between the resident and the businessman when it comes to help? Both get a 30% tax reduction, but the individual gets it in the form of a credit (to be deducted from what you owe, so if you owe less, you get less of a write-off), whereas the commercial business entity gets it as a rebate: that is right - they get a check from Uncle Sam himself for 30% of the out of pocket price (after all other rebates, grants and credits). Now we are talking about $3.5 a watt for a solar installation that will keep paying you in free electricity for life.
If you enjoyed this post, make sure you subscribe to my RSS feed!
