Solar Energy Grants And ITC in US

Nowadays the issue of renewable energy is very important worldwide. Traditional energy sources are running out. Further, they are extracted in various world regions, which are instable due to the political or other situations there. That is why many countries give incentives to the development and use of alternative energy source. So, they are provided government grants or other incentives for using any of the types of alternative energy. Solar energy grants are ones of the most popular among them.

In United States any person(owner) or firm using equipment that uses solar energy to generate electricity, to heat or cool (or provide hot water for use in) a structure, or to provide solar process heat (an exception is property used to generate energy to heat a swimming pool) can claim a 30 percent tax credit or an equivalent cash payment depending on eligibility and choice.

While the Investment Tax Credit for solar and other renewable energy technologies doesn’t expire until 2016, the Solar Grant Program, expires on December 31, 2010. However, there are rumors that it may be extended.

As the government understands that it is important, it gives incentives to such people. Contemporary tendencies of the US government directed to the development of this sector. Many millions of dollars are already spend for this purpose and more will be spent in future.

It’s not a secret that you can heat your home with the help of solar energy saving traditional ones and making a major contribution to the development of alternative one this way. Anyone is able to get solar energy grants by improving energy efficiency and installing solar PVs (photovoltaics) at home. There are a lot of companies that may offer you to install solar PVs. You may do it also by yourself finding the appropriate information on the web or other sources. It is also topical for people, who want to save their money using solar energy, because it is free. If you are looking for any opportunity to save some money for other purposes solar energy grants are for you. You will not only have more material opportunity, but will also have nature-friendly home.

If you are decided to make your home “green” and help your budget, you should apply for solar energy grants or claim the investment tax credits. To claim tax credits, you just need to file the 2011 IRS Form 5695 and submit it with your Annual taxes. On the 1040 form the residential energy tax credit (from Form 5695) is claimed on line 52. Save your receipts and the Manufacturer’s Certification Statement for your records.

For specific information on current financial year, check the website