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Wednesday, July 27, 2011 - 9:11am

New Rules for Solar Tax Credits

Updated: 3 years ago.
The new rules will establish a clear waiting list and publish how much of the credit has been claimed. (Photo: Creative Commons)

The state Department of Revenue is trying to make it easier for people applying for solar tax credits. They're taking public comment on new rules.

Lawmakers extended the popular program this year and raised the cap to five million dollars.

It maxed out in the past couple years and that created uncertainty around investment says Pete Marte with Hannah Solar, a solar installation company.

He says the new rules establish a clear waiting list and lets potential customers know how much of the credit has been claimed.

"Now they should know how much is used up, how much is remaining," says Marte. "So instead of having to play a guessing game which is never a successful selling technique, we certainly will have clients who can ink a number into a spread sheet and make a decision based on the economics."

Marte says under the rule revisions, denied projects dating back to 2008 could be reconsidered.

Public comment on the changes closes August 23.

More than 200 projects are already being considered for the credit this year.

Under the program, individuals can receive up to about $10,000 for a project, and businesses can receive up to a half a million dollar credit.

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