subject: Appreciating The Government Incentive Benefits Of Utilizing Solar Power From Sunfusion Solar [print this page] Government Incentive Benefits Of Utilizing Solar Power have made the idea of using this form of energy attractive to many businesses and homeowners who might otherwise have remained indifferent to the idea. Japan has led the way in exploring this technology and making it feasible for use by all. Germany and the United States have joined Japan and some other countries in promoting this emission-free energy to their people.
The current incentives in the United States consist of tax credits, tax relief or exemption, and grant money being available to encourage the installation of solar devices. The program is a federal one, but is often administered on the state and local level. Any taxpayer is eligible for tax credits. Grants are often limited to large projects, such as hospitals or schools, or to small business, but some localities have programs, administered through the social service agencies, for low income families who wish to use solar energy arrays for their homes.
The 'cap' or limit to the percentage of cost that can be offset by tax credits changes often, but the savings can amount to 30% or more of installation price. Sometimes the savings can be even greater when the federal, state, and local incentives are added together. Not all states or localities offer incentives, so you will need to investigate what is available in your area.
Tax exemptions are when the tax is waived completely; for example, some localities allow components to be sold with no sales tax, or solar installations to be exempt from property taxes assessments. The specifics of tax credits and exemptions vary from state to state, and sometimes county to county, so in the last analysis, you will want to consult government officials and tax experts.
The government subsidizes solar energy projects when it awards grants, which do not need to be paid back, or underwrites low cost loans. These are repaid by adding the payments on to the monthly electric bill. Utility companies often have incentive programs of their own, and sometimes offer rebates on energy efficient appliances.
As the world's governments get behind the solar industry, and more people use the technology, the market grows, production increases, and the price goes down. This process was rudely interrupted by the recent recession, but the industry is showing signs of recovery. The emphasis on greenhouse gas emission reduction by many nations means that solar power, totally emission free, will come more and more into its own.
As the market grows, and the technology advances to new heights of efficiency, investment opportunities grow as well. In addition, the alternative use of energy from the sun, together with occasional contributions from individual power plants to the community power supply, lowers the cost of electricity for all of us. These are little understood but important additional incentives that affect all of us, as we all share in the economy and in the quality of the environment. So whether you install solar power and have a lower tax bill (as well as an increase in the value of your house), or simply see a small reduction in your electric bill, remember to thank the powers that be in your government for proactive thinking.
Understanding the government incentive benefits of utilizing solar power may make you a fan of solar power even if you never use it anywhere but in your cell phone. This space age technology may help us save the planet and save money as well.
