Bank failures, rejection of credit and stock market collapse? No wonder people are living in fear, but nevertheless positive news keeps coming out of the solar power for homes industry. Aside from the continuing stream of new inventions and breakthroughs, the biggest news relates to the massive opportunities that exist now for green businesses providing solar power for homes.
The solar power for homes industry has been buoyed up by news of the “Emergency Economic Stabilization Act of 2008” within the $700 billion US bailout. As a result, Congress has granted an extension and expansion to tax credits for solar power for homes. It is expected that this will help to solve the US financial, climatic and energy problems.
Providing an eight year extension of investment tax credits on solar power for homes, this takes a massive 30% off the cost of solar power for homes or commercial sites. The fact that this is for eight full years allows long-term planning, and resultant long term growth.
Add to that the removal of the $2,000 cap on the tax credit for solar power for homes. This means that next year the average $30,000 residential system will receive a $9,000 tax credit, $7,000 more than previously.
This will certainly increase the general spread of solar power for homes across the USA. No longer will this be the preserve of sunshine states like California. As solar power for homes companies see the benefit in the US, no doubt benefits will percolate across the pond to Europe.
So, huge opportunities arise for solar power for homes distributors and installers nationally. A study by Navigant Consulting had already predicted an increase of 440,000 jobs in the solar power for homes industry even before the tax credit news.
Generally, solar power for homes suppliers can foresee prosperous times ahead despite the recent credit crisis. It’s little wonder solar power for homes companies like Sharp Solar are making very optimistic noises about their projected future.
As the price of solar power for homes continues to fall and the scale of its introduction continues to grow, alternative energy options like solar power for homes look more and more attractive.
As Google recently pointed out in a recent article, the overall goal is to make solar power for homes cheaper than coal. With these tax credits, we are definitely moving in the right direction. It’s pleasing to know that there’s always positive news to be had when discussing solar power for homes!
From Sam Deane,
your solar power for homes guide,
at www dot go solar power for homes dot com.
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