Solar In the News:
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The Orange County Convention Center's massive rooftop will soon shoulder the largest solar project in Florida and the Southeast at one megawatt of clean renewable solar energy. County officials granted the contract to Johnson Controls, Inc. in partnership with Solar Source on July 8, 2008 to blanket the roof of the nation's second-largest convention center with panels that can turn sunshine into energy, without producing pollution. |
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Removal of Utility Prohibition to Have Major Impact on Solar Market Development- Press Release from WASHINGTON, D.C.
The passage of H.R. 1424, the Emergency Economic Stabilization Act of 2008, provides critical news for the solar industry at large, but also for regulated electric utilities looking to diversify their energy mix with solar electric generation. In addition to extending the federal solar investment tax credit (ITC) for 8 years, the legislation includes the removal of a prohibition that previously prevented electric utilities from taking advantage of the credit. |
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| Heliocol Solar Pool Heating Earns Coveted Green Label Award! | |
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| Federal Incentives |
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Visit the IRS website for information on federal tax credits. Investment Tax Credit
The federal Internal Revenue Code (IRC) has special depreciation provisions for solar systems. They can be depreciated on a 5-year accelerated schedule, or on the regular depreciation schedule. The depreciable basis is calculated as the system cost minus one-half of any federal tax credit, or 85% of the system cost. These provisions are found in IRC section 179. Eligibility for the above solar incentives vary from individual to individual. Please consult your tax advisor regarding your system-specific eligibility. Federal tax credits: http://www.fsec.ucf.edu/en/media/enews/2005/2005-03_EPAct2005.htm Highlights of the Energy Policy Act of 2005 for Individuals U.S. Dept of Energy Energy Star Tax Incentives Assistance Project (TIAP) |
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