Rebates & Incentives, for Solar Energy Systems / Installations:
Federal Solar tax credit:
The federal tax credit for residential energy property was first established with the Energy Policy Act of 2005, initially applied to solar-electric systems, solar water heating systems and fuel cells. The Energy Improvement and Extension Act of 2008 (H.R. 1424) extended the tax credit to small wind-energy systems and geothermal heat pumps. Other key revisions included an eight-year extension of the credit to December 31, 2016; the ability to take a credit against the alternative minimum tax; and the removal of the $2,000 credit limit for solar-electric systems beginning in 2009.
The Federal funding was further enhanced in February 2009 by The American Recovery and Reinvestment Act of 2009, which removed the maximum credit amount for all eligible technologies (except fuel cells) placed in service after 2008.
Applying for Federal tax credits
Residential -
A taxpayer may claim a credit of 30% of qualified expenditures, for a system that serves a dwelling unit located in the United States and used as a residence by the taxpayer. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year. The excess credit may be carried forward until 2016. Expenditures include labor costs for onsite preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home, plus cost of solar energy system components.
California Solar Initiative - The California Solar Initiative, offers cash rebates for grid-tied solar energy systems, application through local power Utilities. This is a direct cash rebate for system costs and installation. Typically covers 20 – 40%, of Total system and Installation costs.
Current Incentive levels:
http://www.csi-trigger.com/
