| New Tax Incentives For Renewables |
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The US Congress has made solar a very attractive investment. The recently passed bailout bill (HR 1424) had buried in it an extension to the tax credits for residential solar power and removed the $2,000 cap for any solar electric system going online in 2009. Since a solar electric system could take a month or two to plan for and install (especially with the silicon shortage), now is the time to get started! Tax breaks for wind power also got a little better, with the same 30% credit but now capped at $4,000 (up from $2,000). Add in your local government tax breaks and utility rebates and you could have some serious help on purchasing your own renewable energy source! Here's an example from the Denver area:
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