the (new) american worker


Tax Credits Continue To Boost Residential Solar Market

Being tax day, I thought I’d take a look at solar power – a renewable that gets tremendous support from the federal government, in the form of tax credits and other incentives. According to a Dow Jones piece today, this push is paying off, most prominently in residential solar power installation, which experienced 37 percent growth in 2009, up from 351 megawatts installed in 2008.

Residential solar projects doubled their growth in 2009, likely driven by federal and state solar installation tax credits.

What does this all mean? It means steep reductions in solar costs for the residential consumer and … my favorite … good jobs! Dow Jones reports that the solar industry added 10,000 jobs in 2009, to round out at 46,000 total workers in the U.S. solar industry. Driving this demand demand is the $270 million of federal grants the government is doling out to solar project owners, and for consumers, credits like California’s 7.5% state income tax credit on the purchase and installation costs of home solar or wind energy systems.

Though credits like California’s have been widely reported, I wonder if tax season will be able to really drive it home. Seeing it on your return – and the credits available – could hit the right note with those on-the-fence consumers.

Advertisements

Leave a Comment so far
Leave a comment



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: