Extension of Federal Tax Credit for Solar Finalized!

On October 3, 2008, Congress passed and the President signed into law an extension of the Federal Tax Credits for solar for another 8 years. The 30% federal tax credit applies for commercial as well as residential installations.

The full list of the solar tax credit provisions in H.R. 1424 include:

• Extension for 8 years of the 30-percent tax credit for both residential and commercial solar installations
• Elimination of the $2,000 monetary cap for residential solar electric installations, creating a true 30-percent tax credit
• Allowance for Alternative Minimum Tax (AMT) fielers, both businesses and individuals, to take the credit

More details can be found in the HR 1424 Solar Memo

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Did you know?

Solar energy currently provides about 0.2 percent of all our electricity - about 660 gigawatt-hours in 2005. This does not include, however, electricity produced by the thousands of solar electricity systems on homes and businesses.

The life expectancy of a solar energy system is over 30 years (some solar panels are still operating after 50 years) with a 25 year manufacturers warranty on solar panels and a 10 year warranty on all other equipment and labor.