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Allsolar Service Company Announces
The American Recovery and Reinvestment Act of 2009
The American Recovery and Reinvestment Act of 2009 repealed a previous limitation on the use of the credit for eligible projects also supported by "subsidized energy financing." For projects placed in service after December 31, 2008, this limitation no longer applies according to Section Code 25D.
Residential Example
Before January 1, 2009
5kW System $ 40,000
FL State Rebate -20,000
30% Tax Credit - 6,000
Final Cost after Incentives $14,000
Current ARRA 2009
5kW System $40,000
FL State Rebate -20,000
30% Tax Credit -12,000
Final Cost after Incentives $6,000
Commercial Example
Before January 1, 2009
25kW System $180,000
FL State Rebate - 100,000
30% Tax Credit - 24,000
Final Cost after Incentives $ 56,000
Current ARRA 2009
5kW System $180,000
FL State Rebate -100,000
30% Tax Credit - 54,000
Final Cost after Incentives $26,000
Realize a return on investment in less then 6 to 8 years on most PV sytems that are designed to last 40+ years. Give me a call to learn more.
*Please consult with a CPA for further details on this tax code change.
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