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Federal and State Tax Credit
Federal Tax Credit:
-In effect, will expire December 2008
-For homes and commercial businesses, it covers solar hot water, and solar electric. Does not cover solar pool heaters.
-For homes you get 30% back with a cap of $2,000. For commercial you get 30% back with no limit.
of Rebates, Buydowns, Grants and Other Incentives on the Amount of the
The NEW Federal Tax Credit:
-In effect January 1, 2009.
Everything is the same as the old except the cap of $2,000 for residential is now lifted!!
State Tax Credit:
-Initiated January 2008, no expiration date
-For residential property it covers solar hot water, solar electric, solar pool heaters, and wind generators.
-You get 50% back from
the state, up to $12,500 per system. The state allows you to
purchase as many systems as you need to cover 100% of your electricity!
News for Solar in Louisiana - 7/10/2007
for solar in Louisiana! Gov. Blanco signed our LA tax credit bill, SB90, into
law Tuesday night, July 10th, 2007. SB90 provides a 50% tax credit
on the first $25,000 of your residential system. This credit only covers
homes on residential property and residential/commercial property.
Residential/commercial property means any commercial businesses that are located
on residential property, for example an apartment complex.
“Now is the
most affordable time to go solar,” said
Justin Runnels, Business Development Manager of
Many thanks to Senator Nick Gautreaux for authoring this bill and to Wade Byrd, Justin Runnels, and Jeff Shaw for their many hours of time at the capital, especially in the House Ways and Means Committee, to get this passed.
Here’s your chance solar enthusiasts! Take full advantage of this refundable tax credit while it lasts. Justin said you could contact him with any questions about this.
The direct links to the info are below:
The New Federal Tax Credit in Effect January 1, 2009-recently added
*Final Rules are in progress and LSES will post here as soon as they are available.**