Neptune Aquatics

Bailout package is good for solar

jimsar

jimsar

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Looks like there's a silver lining in the $700 Billion bailout package that was signed into law today by Pres. Bush. One of the tag-alongs (ear marks?) addresses the tax credit for solar, extending it for another 8 years. Significantly, "it eliminates the $2,000 monetary cap for residential solar electric installations, creating a true 30-percent tax credit (effective for property placed in service after December 31, 2008)"

This is big!

Recent developments: I'm doing some consulting work for a solar company that's been in business a long time, 40+ years in electrical and ~10 in solar. For those interested in new technology, they've been installing arrays with micro inverters, one per PV module, and each one can be monitored independently on the internet. Partial shading of a string is no longer a big issue, and each inverter comes with a 15-year warranty and pay back for energy loss in case of downtime.

Back to the tax credit, if you live in SF, Alameda, Hercules, and other communities with additional sweeteners, "going solar" may be the best housing related opportunity these days. PM or email me if you need help evaluating system financials or if you want a discount with this installer.

Jim
 
I had my 4.2kw system installed earlier this week by Akeena, and the sales representative told me about the great news today. His company is going to delay the PG&E activation until next year. That is a whole 3 months waiting with the system on my roof :(, but with the extra $8k saving, I will learn to be patient :).

Btw, could you point me to the full article on this? Is the credit still phased out by AMT? Thanks.
 
As much as I like the solar aspect being good, the fact of the matter is it does not belong in this bill, unfortunately this $700 billion "bail out" turned into an earmark bonanza.

BTW Jim, on related news, what's your views on Prop 7?
 
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