Federal Tax credit ends this year?

Dave Angelini

I was under the impression that the federal credit was good for several more years. Now I am hearing that it is this year. Am I wrong or is it our disfunctional congress and funding?

solar_dave

Re: Federal Tax credit ends this year?

Last I knew it is good till 2016 for solar. I have heard nothing about any repeal or modification of the program.

SCharles

Re: Federal Tax credit ends this year?

solar_dave wrote: »

Last I knew it is good till 2016 for solar. I have heard nothing about any repeal or modification of the program.

Ditto. As of last spring [2011], it was still available til the end of 2016. Some of the credits for certain things were lowered as of Jan. 1 2011 but are still available. For example, approved wood stoves. There is a federal web site that details all credits, I believe it's http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

Personally, I've done all I can in upgrading my PV system this year because I don't trust Congress to leave the credits alone. So far, to my knowledge, they have left them alone but I don't want to risk losing the 30%. Reagan tried and failed to dump the credits that were instituted during the Carter administration as they'd been approved for five yr. in 1979. But I still don't wanna risk it.

solar_dave

Re: Federal Tax credit ends this year?

Yeah I contracted for the lease now for the same reason, congress will be looking for easy ways to cut stuff, that one would be easy.

solar_dave

Re: Federal Tax credit ends this year?

I was just thinking the EV tax credit of $7500 would be another one congress could whack. Glad I got both Volts here now.

Dave Angelini

Re: Federal Tax credit ends this year?

Thanks ! i heard a National radio show "the Carrie Brothers" yesterday and they had an engineer from Grape Solar in Oregon on the show. He was the one who said the the 30% federal tax would go away the end of this year.

peakbagger

Re: Federal Tax credit ends this year?

I must admit, I have repeated the information that the 30%residential credit was over as of this December based on having read it somewhere. I guess its time to take a good look at the DSIRE site.

Dave Angelini

Re: Federal Tax credit ends this year?

It looks like what I heard was a repeated radio show from earlier this year. Obama signed the law after the show was recorded. As others have said here, the solar, wind, and heatpump credit is good untill 2016.

This could always change but with the state of disfunction in the US government it probably could not change until after the election.

jtdiesel65

Re: Federal Tax credit ends this year?

It's currently good until 2016.

It made the news because it was on the chopping block during the summer debt fiasco. IMHO it may be on the chopping block again which is why I'm moving forward with some plans sooner rather than later.

solar_dave

Re: Federal Tax credit ends this year?

jtdiesel65 wrote: »

It's currently good until 2016.

It made the news because it was on the chopping block during the summer debt fiasco. IMHO it may be on the chopping block again which is why I'm moving forward with some plans sooner rather than later.

Yep me too. I figure in 2012 they will come after it.

Dave Angelini

Re: Federal Tax credit ends this year?

Yes 2012 is the time to buy!

ggunn

Re: Federal Tax credit ends this year?

Dave Sparks wrote: »

Yes 2012 is the time to buy!

Never underestimate the power of those who hold the purse strings. Remember several years back when Congress voted us an income tax hike in the middle of the year and made it retroactive to January 1? They voted themselves a substantial raise in the same session, IIRC.

OK, OK, I'll stop...