$5,000 tax credit for solar, wind, or geothermal at your home

jsamuel

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Fri Apr-20-07 10:03 AM
Original message

$5,000 tax credit for solar, wind, or geothermal at your home

I was looking through the environment sections of the candidates websites and I have to say that I really like Edwards on this issue. Anyway, I think this large tax credit is a great idea. It would spur changes all over the country. Kind of like the Prius and the tax credit did. That would be great to see people fighting over "renewing" their homes.

http://www.johnedwards.com/about/issues/energy/new-energy-economy/

Create Millions of Local Sources of Renewable Energy: Edwards will provide up to a $5,000 tax credit for homes and small businesses that invest in onsite generation of renewable energy like solar, wind, and geothermal power. He will also encourage local generation of renewable energy through "net metering," which allows families to sell extra power back to utilities for credits against their electricity bills.

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midnight

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Fri Apr-20-07 10:15 AM
Response to Original message

1. I like this idea alot. I scanned through the site you posted, but

did not see if this deduction was to be deducted the year of instillation or over a couple of years? Thanks.

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jsamuel

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Fri Apr-20-07 10:20 AM
Response to Reply #1

2. good question

I think probably two years if it can't be used this year, since that is how the current ones are done.

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seemunkee

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Fri Apr-20-07 10:21 AM
Response to Original message

3. Sounds good but it depends on what the requirements are

I bought some solar panels last week and will probably get some more this week. The current tax credits don't kick in unless you go for a major install. Small DIY systems that will cut down on grid usage don't get squat. You have to go 2KW or more for the MD state credits, those systems start at ~8,000. I'm just trying to take a couple rooms at a time off-grid.

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Dr.Phool

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Fri Apr-20-07 10:22 AM
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4. I wish they would re-instate the hybrid tax credit.

It was $3000, but is down to about $350 now.

I took a new Prius for a test drive the other day, and fell in love.

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Atman

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Fri Apr-20-07 10:23 AM
Response to Original message

5. And $20 Gazillion to Big Energy to "explore" coal and ethanol.

The Bush administration doesn't really want us to have clean, cheap OFF THE GRID energy, because if we're off the grid, their big donors (and the BFEE) can't charge us and keep us suckling the energy/fear teat.

.

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