Monday, May 4, 2009

Renewable Energy Sources, Federal Tax Credit


Renewable Energy Sources
RenewableEnergy Sources
Solar Energy
The sun’s energy can be harnessed with many solar technologies.
Photovoltaic (PV) or solar electricity uses cells made up of semi-conducting materials to turn sunlight into electricity. PV cells can be combined into modules that can power appliances and electronic equipment.
Federal tax credits are available to partially subsidize PV systems,which can cost about $20,000 or more for a typical residential PV system without battery backup. Recently, the state increased the credit for single-family residential PV systems to $5,000 while commercial photovoltaics are now eligible for credits up to $500,000. PV-equipped homes and business that produce more solar electric energy than they use and are connected to the utility grid can use surplus power to offset their electricity bills. This net-metering system is also applicable to other renewable energy systems.
PV Basics: How PV works and more
– U.S. Department of Energy
More about Concentrated Solar Power
Solar water heating or solar thermal devices use heat from the sun to produce hot water. Since 1996, HECO, HELCO, and MECO have encouraged homeowners to install solar water heating systems through cash rebates to help defray installation costs. The rebates, along with State and Federal tax credits, are dramatically lowering solar water heating installation costs.
Today, Hawaii’s utilities have one of the largest and most successful solar water heating programs in the nation. We would hope that everyone who can have the luxury of living here in the great state of Hawaii could take the time to understand the benefits of this not so complicated application of energy.
We hope to promote this in many of our homes in the years to come.

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