Solar Gives Credit Where Credit Due
The Market Day reports that in the U.S., 35 states have established net metering - the ability to sell energy from solar panel systems back to utilities - to reduce utility bills. In 2005, Congress enacted the Energy Policy Act, which is a tax credit for purchasing and installing residential solar energy systems for electric and water heating.
Users of solar systems can take a 30 percent tax credit after installing a system for either purpose and can double the credit for both purposes. The tax credit has a cap of $2,000 per system.
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