ITC passes, the solar industry celebrates!
There is a silver lining for the current cloud over our financial system: in the “bailout bill” that was passed last Friday there was some excellent news for the solar industry. The legislation extended solar tax credits for 8 years, and more importantly, it eliminated the $2,000 cap on residential installations, allowing homeowners to get a real 30% credit off the cost of solar.
As was reported from Fortune to the San Francisco Chronicle, this is going to create a boom in the solar business. The reason is simple - it pays to go solar! If you are a prospective customer, now is a great time to sign up for a solar system - call and we’ll walk you through it.
For Sungevity customers who have signed up for a system D (approximately 5.6 kW, our fourth largest residential solar electric system), they would be more than $2,000 ahead if they now buy a system E (approximately 7 kW, our largest home solar system). On average, the return on investment that our customers see is going to be above 20% for many homes.
The tax credit extension is great news for our customers, because the economics of going solar are even better. With a warranty-backed solar system that will save you tens of thousands of dollars over 25 years, there is no better investment in 2008. Shine on!
