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Responsible
Energy for a Better World is NOW Affordable!!!
FEDERAL TAX CREDITS With the passage of the American Recovery and Reinvestment Act in February of 2009 and Incentives in the State of Michigan many cost saving programs are in place to make your Renewable Energy System more affordable. Expenditures include labor costs for on-site preparation, assembly or original system installation and
for piping or wiring to interconnect a system. If the federal tax credit exceeds tax liability, the excess amount may
be carried forward to the succeeding taxable year.
Solar Photovoltaic Property-Electric (Federal)
- 30% tax credit for qualified expenditures with NO cap on system size.
- Systems must be placed into service from January 1, 2009, through December 31, 2016.
- The Home served by the system does NOT have to be the taxpayer's principle residence.
Information from www.dsireusa.org
Solar Thermal Property-Water Heating (Federal)-
30% tax credit for qualified expenditures with NO cap on system size.
- Systems must be placed into service from January 1, 2009 through December 31, 2016.
- Equipment must be certified for performance by the Solar Rating Certification Corporation (SRCC) or a comparable
entity endorsed by the government of the state in which it is installed.
- At least half the
energy used to heat the dwelling's water must be from solar.
- The tax credit does not apply
to swimming pools or hot tubs.
Information
from www.dsireusa.org
Small Wind Property (Federal) - Under present law, a federal-level
investment tax credit (ITC) is available to help consumers purchase small wind turbines for home, farm, or business use. Owners
of small wind systems with 100 kilowatts (kW) of capacity or less can receive a credit for 30% of the total installed cost of the system.
- Current Status: The ITC, written into law through the Emergency Economic Stabilization Act of
2008, is available for equipment installed from October 3, 2008 through December 31, 2016. The value of the credit is now
uncapped, through the American Recovery and Reinvestment Act of 2009.
Information from www.awea.org
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