Solar, wind tax credit may end Jan 1st

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If you're thinking about installing wind or solar power units to your home, time may be running out. The federal alternative energy tax credit, allowing you up to a $2,000 tax credit to help cover the cost of going green, will expire at the end of the year and renewal legislation is currently gridlocked in the Senate. Democrats want to include fees adequate to offset the expense of the program, $1.7 billion or more and sure to climb with the higher proposed cap in the new energy bill. Republicans are opposed to such charges and in favor of other issues in the bill, including expanded oil drilling.

Most experts believe the tax credit will be renewed before the end of the year, but time is running out; Congress adjourns in October.

If you decide to move forward with your own project, you might find qualified installers in short supply, as commercial builders rush to complete large solar and wind projects.

Even if this incentive should disappear, however, a number of state incentives will still be available. This database pulls together the info on where you might turn for help in funding your own windmill or solar farm.

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