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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Tax credits for solar and wind

Energy, Environment, Going Green, TAXES, THE ECONOMY

Newsmax

THAT a little-discussed earmark in the $700 billion bailout bill recently passed by Congress could put thousands of dollars in the pockets of taxpayers who install solar power systems in their homes.

Tax credits for solar or wind power systems were set to expire at the end of this year. But the earmark in the bailout package extended and enhanced them.

Currently taxpayers receive a 30-percent tax credit, with a cap of $2,000, for installing those power systems. Beginning next year, taxpayers will receive a 30-percent credit with no cap, the Miami Herald reported.

That means taxpayers who install a $30,000 solar power system in their home will receive a hefty $9,000 tax credit.

“This is huge,” said Julia Hamm, executive director of the Solar Electric Power Association.

 

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