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Great news. Last week the federal government extended the Treasury Grant program in lieu of tax credits for commercial solar installations for one more year. It was signed into law last Friday as part of the bipartisan Tax Cut Bill.
The federal 30% tax credit for commercial solar projects has been in place for several years now, however it is only relevant if there are profits to apply the credits to. The government converted the credit into a grant as part of the 2009 American Recovery and Reinvestment Act so that companies could access the funding even during the economic downturn when profits were lower.
The grant program provided a critical boost to the solar industry over the past two years. Getting the program extended until December 2011 is an important victory for the solar industry and the economy at large.
Say goodbye to high-energy bills and hello to worry-free solar
Say goodbye to high-energy bills and hello to worry-free solar
About the Author
EmPower Solar develops, engineers, installs, and services solar and battery systems for residential and commercial clients. Since 2003, EmPower Solar has empowered thousands of New York homeowners and businesses with 47 megawatts of distributed solar. Its vision is to create a new energy paradigm powered by clean, renewable energy for a more prosperous, healthy, and civil world. The company culture is defined by the EmPowering Way, which results in consistent 5-star customer service reviews. For more information visit empower-solar.com.