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Rebates and Tax Credits for Solar

This is exciting, the first blog post. The first thing clients want to know is the rebates and tax credits. What is the bargain to be had? Same as when Jimmy Carter’s tax credit’s were in affect in the early 1980′s? YES, same 50% to 60% of the system cost is paid for by incentives. The federal tax credit is 30% of the system cost and is good until 2017. The rebates approved by voters in 2004 is now in the form of a production rebate returned to solar customers every month for all the Xcel Utility solar customers. Currently, legislation is in the works to for other utilities in the state, check back for more information as it develops. And a smaller incentive is state sales tax is not charged on sales of solar systems, a 2.9% savings. The rebate has been decreasing but so has the price of solar panels. Is there an end to the incentives? YES. There is a time limit to the 30% federal tax credit, December 31st of 2016 is the deadline. There is a limit to the amount of solar allocated for the rebate program, the next post will describe the time frame for getting a solar system before the rebate incentive runs out. Thanks and enjoy the sunshine.