September 20th, 2008

Exciting News on Government Support for Home Solar

Posted by Jessica Jensen

Stumble it!digg it add to del.icio.ustechnorati

There were two pieces of very exciting news this week on the home solar power front.  First, the City of Berkeley has voted to support home-owners by providing loans for installing solar power systems.  Second, the Senate appears to have reached a deal that would extend the tax credits available for home renewable energy systems that were slated to expire this year. Here’s three green cheers to both of these developments–and a prayer for much more government support of residential renewable energy initiatives!

According to the New York Times, ”The Berkeley City Council moved late Tuesday to eliminate one of the biggest obstacles to making homes more energy-efficient: the upfront cost.

The Council unanimously approved a program to give city-backed loans to property owners who install rooftop solar-power systems. The loans, which are likely to total up to $22,000 apiece, would be paid off over 20 years as part of the owners’ property-tax bills.

While the more conventional approach of government rebates and tax breaks is being tried by the State of California and many other jurisdictions, this is the first time that a special property tax district has been created expressly to help retrofit homes and businesses to reduce electrical use. “   Read the rest of the article here.

And from Grist.org on Sept. 17, “The Senate appears to have reached a deal on a major tax package that includes the extension of tax credits for renewable energy that are set to expire at the end of this year.

Sens. Max Baucus (D-Mont.) and Charles Grassley (R-Iowa), chair and ranking member of the Senate Finance Committee, announced on Tuesday that they have come to agreement on a tax package that would provide $17 billion in renewable energy tax breaks. The bill would also adjust the alternative minimum tax, extend the child tax credit and several business tax cuts, and provide $7 billion in tax relief for those affected by the Midwestern floods and the Gulf Coast hurricanes.

The bill extends the investment tax credit for solar and wind for eight years. It extends the production tax credit (PTC) for wind for one year, and the PTC for solar, biomass, and hydropower for two years. The residential energy-efficient property credit is also extended through 2016, and the definition of the systems that qualify for that credit is expanded to include small wind investment and geothermal heat pumps. There is also a credit for plug-in electric vehicles, and $1.5 billion in tax credits for carbon capture and sequestration (CCS) demonstration projects. (Read a summary of the bill [PDF].)”

Find solar power installers near you by clicking here.
Find wind power installers near you by clicking here.

Popularity: 1% [?]