Tax Credits For Going Green
On October 3, 2008 the U.S. House and Senate passed historic legislation that will massively increase the use of solar energy in the United States. Renewable energy provisions in H.R.1424 include an eight year extension of the 30% solar tax credit and removal of the monetary cap of $10,000 for residential solar electric installations. This is NOT a tax deduction, it's a tax credit.EXAMPLE: If you spend $2,000.00 on solar energy and you owe $7,000.00 you can subtract $600.00 owing only $6,400.00.
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