Wednesday, February 18, 2009
News: Stimulus adds tax credit for home solar panels -- San Francisco Chronicle
Stimulus adds tax credit for home solar panels -- San Francisco Chronicle
Homeowners interested in sticking solar panels on their roofs got a big boost from the $787 billion economic stimulus package signed Tuesday by President Obama.
Homeowners will now be able to get a federal tax credit worth 30 percent of the cost of their new solar system even if they're also receiving state or local financing.
That could make a big difference in California, which offers rebates to homeowners who install solar systems. And Berkeley has a new solar financing program that lets homeowners pay the cost of their solar systems over 20 years, a program that San Francisco and other cities plan to emulate.
A typical home solar system generates about 3 kilowatts of power. The installation cost in California averages roughly $8.10 per watt, according to Adam Browning, executive director of the Vote Solar advocacy group, meaning the typical cost is $24,300.
Labels: news, solar panels, tax credit
