Get Paid For Your Energy

By: Jill Cordes
By: Jill Cordes

The recent removal of a federal tax credit cap could help boost solar panel installations for your home.

Previously, a federal incentive offered a 30 percent tax credit for alternative wind and solar installations, but the credit was capped at $2,000. As of January 1, though, that cap has been lifted, meaning homeowners can now receive the 30 percent tax credit up to the full value of the installation.

That should be good news for the solar industry. Van Jones, founder and president of Green for All, feels the future is brighter.

"You can put a solar panel, up on top of your house, or a wind turbine in your backyard and all of the sudden you're a power producer, not just a consumer. I mean it's pretty neat right now, if you've got solar, to watch the meter spin backwards. What if it could spin all the way backwards to a positive number? And you could start thinking about the power company sending you a check, instead of you sending them a check."

Jones, expects the Obama administration to set a solar-friendly policy course. With new innovations coming, that would put the solar industry in a position to thrive.

I'm Jill Cordes reporting.


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