US Treasury Grants for solar systems are ending soon.
For the past couple years, the U.S government has offered federal solar energy system But is all that about to end?
Probably. The Federal Grant for Renewable Energy is not set to be renewed at the end of this year. Quietly and discreetly, no one has mentioned it. It appears that if you have not started your installation by December 31, 2010, then tough luck to you.
For most of us that leaves us with only two options: either get moving or miss out. Your solar energy system has to be “started” by the end of this year in order to qualify for the grant.
If you want to get started you can take a look at our information on the US Treasury Web site or call Simple Energy Works to begin the application process. Its not too late but you have to hurry. Businesses interested in solar energy must incur 5% of the cost of the system prior to December 31st 2010 to be eligible for hundreds of thousands of federal grant money.
Hers the specifics if your seriously interested
The American Recovery and Reinvestment Act of 2009 (H.R. 1) allows taxpayers eligible for the federal business energy investment tax credit (ITC) to take this credit or to receive a grant from the U.S. Treasury Department instead of taking the business ITC for new installations. The new law also allows taxpayers eligible for the renewable electricity production tax credit (PTC) to receive a grant from the U.S. Treasury Department instead of taking the PTC for new installations. (It does not allow taxpayers eligible for the residential renewable energy tax credit to receive a grant instead of taking this credit.) Taxpayers may not use more than one of these incentives. Tax credits allowed under the ITC with respect to progress expenditures on eligible energy property will be recaptured if the project receives a grant. The grant is not included in the gross income of the taxpayer.