Solar: Get it while its hot…

If you have been thinking about installing a solar hot water heater in your home, or putting solar photovolataic (pv) panels on your roof in the District, time is running out to be eligible for federal tax credits. Many states like California and New Jersey (yes NJ - the Saudi Arabia of flat, pv friendly roofs) offer generous rebates and incentives for homeowners that want to go solar. Unfortunately DC does not have a rebate program, so Washingtonians interested in installing solar technology rely on federal tax incentives to make it more cost friendly. The bad news is that the federal tax incentives that allow homeowners to get a credit for up to $2000 of what they invest on solar is set to expire at the end of this year. After the initial investment, solar can help DC residents save on their electric bills because of net metering policies that require utilities to credit customers that generate more electricity than they use themselves.

The federal solar incentives, as well as incentives for wind, geothermal and other forms of clean energy fell victim last year to the oil industry, who didn’t want to give up any of their billions of dollars in federal subsidies to help fund clean energy. Apparently record breaking profits doesn’t keep the oil industry happy enough. The solar industry, environmentalists, and investors are all rallying together to save the clean energy incentives.

To find out more about solar incentives in your state (or District) check out the Database of State Incentives for Renewables & Efficiency at www.dsireusa.org.

***Update***

Democrats in the House of Representatives are ticked off about oil industry profits as well and are going to bring up an energy tax package later this week. The bill  will extend the solar and other renewable energy and energy efficiency tax credits and pay for it by rolling back oil subsidies. The vote is expected on Thursday.