It’s not only the Wall St. tycoons who will benefit from the massive bailout legislation.  If you install a solar electric system (pv), the credits available have risen since the federal govt removed the $2,000 limit to tax credits.   Here’s how it works.  Conn Clean Energy Fund (CCEF) will rebate up to 50% of the total cost of a pv system (depending upon kw size and efficiency).  Most installers will take care of the paper work.

Then 30% of your actual cost can become a credit off your income tax.  Not a deduction, a credit.  There is a big difference.  A deduction reduces your taxable income while a credit is direct cash back.  This was limited to $2,000 but no more.  The effect of these credits/rebates can reduce the payback from 9-12 years to 5-7 years.  Imagine, getting your money back in 5-7 years and getting free electricity for the next 20.  Sounds like a good deal.

Now this is government we are talking about here and nothing is ever forever.  So if you are thinking about a pv system,  Now would be a very good time to act.  We are builders not lawyers or accountants so do your own investigation and how it would apply to you.  We can recommend a reliable solar contractor.  If you want to look into remodeling or building as part of the project, that is our business and we can help with design and building.  Don Carey 10/14/08.