New Stimulus Act Allows Homeowners And Businesses A 30% Federal Tax Credit For A Solar Power Grant

According to the American Recovery and Reinvestment Act, also referred to as the new stimulus act of 2009, homeowners and businesses will be provided benefits that will allow them a credit of up to 30% on all costs for renewables on you home or business. Using solar energy for powering your home or business is a good way of saving money, saving the environment and getting tax credits.

These three things alone are well worth having a solar powered home. Most people hesitate to do this to their house because they assume that it is too expensive. The truth is that it is not as expensive to do these days because everyone is realizing how vital this source of energy is, so it is getting more and more affordable everyday for everyone.

It is important to note that there are rules governing which homeowners or business to qualify for these grants. Here is how the average homeowner will be able to qualify.

1. Your primary residence, a vacation home or a second home or commercial business can all qualify for solar energy if you are the taxpayer for them and are owned by you.
2. The home or business must be in the United States.
3. The solar power system must be certified with a Solar Rating Certification Corporation or a qualifying agent.
4. The system needs to be installed after January 1, 2009 to claim the maximum allowable credit.
5. Credits can’t be applied until the solar system is 100% complete and operational.

Now that you know more information about getting a solar power grant that can be used to add a solar power system to your home, it is time to take a little more time for your research. Gain as much information as possible before making your final decision.

6 Responses to “New Stimulus Act Allows Homeowners And Businesses A 30% Federal Tax Credit For A Solar Power Grant”