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RECAP: Introducing ISEA's Renewable Aggregation Program

13 Mar 2009 11:51 AM | Daniel Sheetz
On October 3, 2008, the U.S. House passed legislation (H.R. 1424) that will extend an investment tax credit of 30% for all solar installations, whether commercial or residential, effective January 1, 2009 through December 31, 2016. The President has signed this bill into Law. Residential photovoltaic systems can now take advantage of an unlimited 30% tax credit, subject to income and deductability limitations. The cap remains in effect for residential solar thermal installations. In addition, there is also a Residential Tax Credit for small wind systems, $500 per 1/2 kilowatt, up to $4,000. The Illinois Department of Commerce and Economic Opportunity has released the Fiscal Year 2009 rebate guidelines. As of now, however, the funds for this program have been redirected for other uses by the State Legislature. If you have any questions about the program, please feel free to contact us.



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