Wow. I've been working my way through the 1500 pages of the Obama Stimulus Plan, lovingly titled American Recovery and Reinvestment Act of 2009, scanning for the changes in the Renewable Energy tax credits and incentives.
Not easy to find, but did discover some specifics that I thought I would share.
- Solar How Water:
previous incentive allowed for a Federal tax incentive of 30% of the cost of the system, capped at $2000 maximum.
New: The $2000 cap has now been removed, so you get the full 30% tax credit for Solar Hot Water, a several thousand dollar change
- Energy Efficient Improvements:
previous incentive allowed a $500 Federal tax incentive for the installation of energy efficient windows, insulation, appliances. Eh.
New: The incentive has been increased to a $1500 Federal tax credit for Energy Efficient improvements. See this chart for the specific equipment requirements (but note that the $$ amounts are out of date, it is now a flat 30% total credit capped at $1500)
These new incentives continue to push the "affordability curve" in the homeowner's favor. Below is the complete list of Renewable Energy incentives that I know of:
- Solar PV/Hot Water = Federal 30% Tax Credit for cost of system. Uncapped.
- Solar PV/Hot Water = NYC Property Tax Abatement - 35% of Post Rebate Cost over 4 Years
- Solar PV = NYS offers 25% Credit of the Customer Final Payment up to $5,000
- Solar PV = NYSERDA Utility Rebate for Solar Electric System (Currently $3.00 per watt)
- Energy Efficiency Improvements = up to $1500 federal tax credit for the installation of energy efficient furnaces, heat pumps, appliances, windows and insulation.
I typically rely on DSIRE to keep track of the various incentives, but they haven't updated their site yet to reflect the new stimulus legislation (Pres. Obama is slated to sign it on Tuesday).
[where: 10032][where: Harlem][where: Sugar Hill]
11 comments:
Thanks for all your hard work and for sharing!
Thanks Dawne... So hard to get the final details, glad it was useful for you.
.//A.
Thanks now I know how to grow those desease free tomatoes.
Hi,
Love your blog. This is great info. We are about to start renovation on a brownstone in Brooklyn and want to add solar panels to the roof. Is there a contractor/installer that you would recommend for installing PV or hot water solar panels?
---Luis
well I dont Know much about the area are you're at but Iam sure you'll find a cheap DIY book Here at Kou Kaug Chen. I'll post the link on my blog in 30 mins time. when you're in type DIY solar pannel and a range of books will come up.
I'll post a link on my Blogger regarding the panels, though I won't Know a builder in your areA You can get some good CHEAP CHEAP DIY books on the subject from Kuo Kang chen
Uzriel: there are some interesting sources for DIY panels, and they certainly can be cheaper upfront.
However, DIY for power generation is not feasible (or allowable) in urban areas. New York, like most large cities, will not allow a DIY solar system to be connected to the power grid.
Additionally, if the installation is not done by a licensed/approved installer, the homeowner is *not* eligible for the rebates or tax credits that are available. These rebates and tax credits can cover up to 75% of the solar installation costs.
Coach Luis: thanks for your note, and glad you could use the info.
I am happy to introduce you to the folks we've been working with on the Solar aspects. We went through quite a few interviews/proposals and this company was far and away the most responsive.
Let me know your email address and I'll follow-up.
Best,
.//A.
I guess you're right, "this old world is a tough nut to crack" I love your details and and take pleasure in the thought of where it may lead.
Hi BlogMonkey,
Thanks! That would be great..my email address is Prof_manzo@hotmail.com, Thanks again.
---Luis
Hi, your work seems interesting. I am a journalist from Columbia University. Please email me back, I'd like to ask you a couple of questions. Thanks. Nikolia (nicapostolou@gmail.com)
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