Senator Mark Udall from Colorado revealed the Solar Uniting Neighborhoods (SUN) Act yesterday (March 18, 2010). The SUN Act allows residents who invest in solar system projects for their communities to receive the same 30% tax credit as homeowners. This provides an excellent incentive for communities around Colorado to invest in renewable energy systems to power their communities.
This will increase the demand for solar in Colorado, bringing solar jobs when they are needed most. In addition, Senator Udall hopes that it will push Colorado to set the solar standard for the country.
Just like the 30% solar tax credit for homeowners, the SUN Act has no limit and expires in 2016. With the implementation of solar credits, state and federal governments are hoping to decrease the cost of photovoltaic solar systems (so the tax credit is no longer needed). This will usher in a new era of abundant, renewable energy to power a renewable economy.
This should be the break that communities are waiting for. Why would you wait for energy prices to go up when you can get 30% off a solar system? It provides a steady flow of electricity, protects communities from blackouts, protects from rising energy prices, and provides a stable return on investment. Where else can you find an investment that is as secure as the sun rising in the morning?
