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WASHINGTON--(BUSINESS WIRE)--The economic stimulus package just passed by Congress includes strong support for an innovative new solar and energy efficiency financing program that allows property owners to install solar and energy efficiency projects and pay for them over 20 years through a line item on their property tax bills.
This new program overcomes the principal obstacle that has hindered widespread adoption of solar and energy efficiency projects by homeowners and small businesses – the daunting upfront cost. Congress amended the federal tax code to ensure that participants in this program can take full advantage of the 30% solar energy tax credit and authorized the use of Qualified Energy Conservation Bonds to fund the program.
Originally posted by spacedoubt
reply to post by mental modulator
Do you seriously think that this kind of behavior is conducive to a discussion?
Especially when it's possible that some common ground has been discovered in such a polarizing bill? You should be seizing this opportunity.
Originally posted by Desolate Cancer
What I dont understand is that property tax is a local tax, each town or school district pays a different property tax.
So how can a Federal bill like this say that you can deduct money from your property tax?
I may be wrong but I thought property taxes stayed local.
reply to post by questioningall
I have been banging my head against the wall for a few years, wanting to go "solar" on my home - but I have found it cost prohibative! Now, this energy section in the stimulus bill, might just provide the means for all of us to go solar!
reply to post by nrky
This bonus for people buying solar electrical systems is bloody useless for people that can't even remotely afford it, and for those of us who can't afford our own home and have to rent.
Originally posted by kyred
This does seem like a good idea, except for the idea that I must pay for the system up front in the first place, which I can't afford. But, I do remember reading something, or hearing it on a radio show that mentioned a company that would build a solar system for a homeowner, install it on the roof and give the owner 20 years to repay it, with the idea that as you pay your bill for the system, you will be able to afford it because you will be paying less in electricity costs, and even, in some cases have a surplus. Anyone know of this company that will do this? I'd sure be interested. U2U me if you have this information, please.
reply to post by FredT
I am curious however as a previous poster stated how exactly will they levy this federal program onto a what is really a county property tax??