The almost $800 billion economic recovery bill includes a bigger tax break for residential solar hot-water installations.
already could take a tax credit on up to 30 percent of the cost of a solar
hot-water system installation, but the total amount was capped at $2,000. The
economic stimulus bill, expected to be signed by President Barack Obama today,
removes the cap.
This puts residential solar thermal systems
on par with residential solar PV. Last year, a massive financial industry
bailout bill renewed the federal tax credits for both solar PV and thermal for
eight more years. However, a separate provision lifted a $2,000 cap on the
federal tax credit for solar electric systems for homes.
Stimulus Package Removes Cap On Residential Solar Thermal
February 17, 2009