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Federal Tax Credit Update
April 7, 2009

Federal Tax Credit Update: Please be advised that the federal tax credit changes affecting solar allow a grant in lieu of a credit for the business investment tax credit only, and not the residential tax credit. Residential customers will continue to be eligible for the solar tax credit through 2016. Businesses are eligible for the tax credit in the form of a grant for 2009 and 2010 only; thereafter the grant reverts to a credit through 2016. There was some confusion shortly after the tax credit changes were made that the grant provision applied to both residential and business customers. This is not the case. As such, residential customers will only benefit from the tax credit if they have a federal tax liability.

   
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