Wednesday, August 12, 2009

Going Solar Is Getting Easier posted a story about new legislation that expands the 5o percent tax credit already available for solar energy systems by making the tax credit transferable. That is, third party entities such as installers, developers, and financiers can purchase solar energy systems, receive the tax credit, and then be able to lease the systems to homeowners. Homeowners can then pay a bill to the system owner, in the same way that they currently pay a bill to the utility. The new bill through the lease or power purchase agreement is lower than the the existing bill. The homeowner is also getting the added environmental benefit of running their home on solar energy instead of using electricity. More here.

Photo by Wayne National Forrest

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