Legislation would extend solar tax credits to energy collectives

The Woodlands, Texas, March 18, 2010 – Management of Evolution Solar Corp. was pleased to learn that U.S. Senator Mark Udall (D-Colorado) is introducing a bill in Congress to extend residential solar energy tax credits to community-based solar farm collectives.

Current tax law allows homeowners to receive a 30 percent tax credit for installing solar panels on their property.

The proposal named the Solar Uniting Neighborhoods Act, would allow homeowners to receive tax credits for panels installed somewhere else.

That would extend the credit to community-owned solar farms, where neighbors designate sunny, treeless areas for installation of community solar panels.

“By grouping these solar panels, you can reduce the cost by 30 percent compared to installing a panel or a set of panels on every roof in the neighborhood,” Udall told the Senate.

Udall said this change would make the tax credit more accessible financially and logistically. The tax credit would run until 2016.

“By eliminating the requirement that the solar panel be on one individual’s property, it frees Americans to work together on community projects where each individual can claim a tax credit on part of a shared project,” Udall said.

“We at Evolution Solar encourage any and all initiatives that would make solar projects more financially feasible for Americans,” said Robert Hines, President of Evolution Solar.

Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be placed at the university’s Houston campus.

This project should help Evolution Solar acquire new projects in an industry that is growing to compete in the energy industry, which contains the Peabody Energy Corp., Valero Energy Corp., CenterPoint Energy and Chesapeake Energy.

Evolution Solar Corp., commercializes alternative solar energy technologies and related photovoltaic technologies, equipment and next generation appliances.

Evolution Solar is an emerging industry leader capitalizing on its understanding of solar power technology and supporting the development of alternative energy plans for large corporations and government organizations.

Evolution Solar is also a consultant agency to organizations in their strategic and procurement plans for alternative energy contracts with public utilities.

 

Previous articleBlack and Veatch expands smart grid capabilities with Enspiria acquisition
Next articleGE sees bright future for thin film solar technology

No posts to display