I want to go solar! I want to go solar! I feel like a petulant child, but seriously, y’all, I’ve wanted to go solar since I was a kid and Captain Planet made it look so cool (and feel so good). I remember doing a little cost calculator just this year to see how much it would cost us to go solar and the cost was astronomical. Partly because the technology was expensive, but mainly because there weren’t many tax credits in my state to help me pay for a system. NOT ANYMORE!

Read this:

“Coupled with the fact that on January 1st, 2008, the State of Louisiana initiated one of the most forward-thinking renewable energy rebate programs in the country, providing a 50% tax credit for each renewable energy system for homeowners and multi-family apartments, Louisiana residents now have an historic opportunity to affordably integrate renewable energy systems into their residences” said Troy Von Otnott, President of South Coast Solar.

“The removal of the $2,000 cap on the Federal Investment Tax Credit, in addition to Louisiana’s 50% Tax Credit for residents and multi-family apartment owners, provides Louisiana residents an additional $5,500 in tax credits on a typical $25,000, 3kW residential solar energy system, which produces over 4,000 kilowatt hours annually of clean energy. Once the resident is reimbursed by federal and state tax credits on their annual tax returns, the final cost of a 3kW solar energy system is $5,000. An 80% combined tax credit is going to create a great deal of clean and green renewable energy in Louisiana,” said Von Otnott. From South Coast Solar Blog**

The Solar Investment Tax Credit (ITC) provisions will:

• Extend for 8 years the 30-percent tax credit for both residential and commercial solar installations
• Eliminate the $2,000 monetary cap for residential solar electric installations, creating a true 30-percent tax credit (effective for property placed in service after December 31, 2008)
• Eliminate the prohibition on utilities from benefiting from the credit
• Allow Alternative Minimum Tax (AMT) filers, both businesses and individuals, to take the credit
• Authorizes $800 million for clean energy bonds for renewable energy generating facilities, including solar

So, now I don’t know whether I want to start with panels, or a solar water heater. I’ve found a great local company, South Coast Solar, and they offer free solar installation estimates**. I’m going to get those guys to come out to my house, and see what they can offer. Right now, I’m leaning towards the solar water heater, because they say, “Most families don’t realize that 1/3 of their total utility bill could be spent heating their home’s water. In the New Orleans area, residences will realize an energy savings of 85-95%.”

I’ll let you guys know how the estimate goes. In the meantime, what’s the tax credit status where you live? Have you gone solar? Do tell!

**You are leaving the FilterForGood Web site. The Brita Products® Company is not responsible for the content or data collection of that independent site.