In May of this year, Georgia enacted legislation establishing residential and commercial tax credits for the installation of clean, energy efficient equipment and renewable energy equipment. This tax credits are in effect from July 1, 2008 until December 31, 2012. More details can be found at www.dsireusa.org
For commercial buildings, the tax credit is equal to 35% of the cost of the system, (including installation), $.60 per square foot for lighting retrofit projects and $1.80 per square foot for energy-efficient products installed during construction. This includes: solar water heating, solar panels, solar thermal electric, active space heating, biomass and wind energy systems, Energy Star-certified geotermal heat pumps, and lighting retrofits.
For residential buildings, the tax credit is equal to 35% of the cost of the system, including installation. This includes: domestic solar water heating, solar panels, solar thermal electric, active space heating, wind energy systems, and Energy Star-certified geothermal heat pumps. Leased systems are eligible for both commercial and residential tax credits, solar hot water systems must be specifically certified.
This is a first step for Georgia and I hope both commerical and residential property owners will take advantage of these tax credits. Let's show the Georgia lesgislature that were ready to enter the 21st century and become more sustainable!