A lot of people have been seeking us what incentives are still in place
for 2012. The answer: All of them. While there were a few changes in 2011, the
majority of programs that will impact a normal homeowner sojourn a same.
Here is an overview…
30% Federal Tax Credit is still available. Now it
applies to your 2012 taxes. It is a credit, not a deduction. If we buy a
$10,000 solar system, we can write off $3,000 from your taxes owed. Don’t pay
enough taxes to get a full volume back? You can take adult to 5 years to claim
the full amount. Application is simple, only fill out IRS form 5695 and submit
it with your taxation earnings (this relates for a 2011 taxation year as well.). This is
for Electric Solar Systems and Solar Hot Water. The stream death date
Production Incentive is still available. This is
the remuneration a application creates to we for all a appetite we produce, either you
use it or it goes behind out to a grid. They compensate we adult to 54 cents per kWh, up
to $5,000 per year. This remuneration comes to we once a year in a form of a
check from a utility. This is for Grid Tied Electric Solar Systems. The
current death date is 2020.
Net Metering is still in place. This is the
credit a application gives we for a electricity we send behind to your
neighbors. When a solar electric complement is installed, we change out your
current scale for a bi-directional meter, so it keeps lane of what is coming
and going. On your application bill, there will be a credit for a appetite we send
back. This is for Grid Tied Electric Solar Systems. There is no expiration
Reduced Sales Tax altered a small in 2011. Now
the approach it works is…systems underneath 10kw are sales taxation exempt. No sales taxation is
ever paid. On systems incomparable than 10kw sales taxation is paid adult front, and we can
then request for a 75% sales taxation credit. It is really singular that a residential
system is incomparable than 10kw, so many of we are not impacted by this. This is
for Electric Solar Systems. The stream death date is 2013.
Accelerated Depreciation is for businesses. 50% of the
system cost can be unheeded in a initial year, and a residue over the
following 4 years. That is 5 years to 100% depreciation. This is for Electric
Solar Systems and Solar Hot Water.
What does this meant for you? Solar isn’t like a dungeon phone,
a computer, or a DVD player, a subsequent good thing doesn’t make this year’s
model obsolete. There are no vital advances on a horizon, and while prices
are entrance down, it is function during a sincerely delayed pace. What are we saying? Now
is a time to buy. The earlier we buy solar, a some-more incentives we earn
before a laws expire. So while we competence compensate $5 reduction a row in 5 years, you
just mislaid 5 years of prolongation and net metering incentives, and a taxation credit
will be gone.
Want some-more information?
Visit a counter during a Mother Earth News Fair in Washington.
Join us for Solar in a NW during a Mother Earth News Fair in Washington.
Check out a website: www.southsoundsolar.com
Visit http://www.dsireusa.org/ for a finish list of all a renewable appetite laws and programs in your area.
Kirk Haffner will benefaction a seminar during a Puyallup, Wash. 2012 MOTHER EARTH NEWS FAIR.