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Solar Tax Credit Opportunity Overview

I. State Tax Credit - Act 371 of 2007 - Louisiana Legislature

  • Applies to residential and apartment projects.
  • Covers solar hot water, solar electric, solar pool heaters and wind generators.
  • 50% tax credit up to maximum system cost of $25,000.
  • Allows multiple systems on same building, thus basically unlimited credit.
  • Treated as overpayment at end of year and state writes check.
  • Goes into effect January 1, 2008 - No expiration date.

II. Federal Tax Credit - 2005 Energy Policy Act

Residential

  • Covers solar hot water and solar electric. Solar pool heaters excluded.
  • 30% tax credit up to a maximum credit of $2,000.
  • Unused credit can be carried forward.
  • Limited to one solar hot water and one solar electric credit in any tax year.
  • Currently set to expire on December 31, 2007.
  • Expected to be renewed and is in both versions of current energy policy bills.

Commercial

  • Covers solar hot water and solar electric.
  • 30% tax credit unlimited.
  • Tax credit basis can be increased by developmental and financing costs.
  • Unused credit can be carried forward.
  • Accelerated 5-year depreciation on 85% of tax credit basis.
  • Depreciation basis appears to be unaffected by state tax credit.
  • Currently set to expire on December 31, 2007.
  • Expected to be renewed and is in both versions of current energy policy bills.




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LCTN News

New Orleans is named as a DOE Solar American City. La CleanTech spearheads the effort to build the New Orleans Solar City team with The NO office of Recovery Management, FutureProof, Green Coast Enterprises, Alliance for Affordable Energy, and Global Green..read more

La Clean Tech is offering Solar Energy Installation training classes around the state, and is working with the Louisiana Community and Technical College System to begin a Solar Training program.

LA Senator Nick Gautreaux was presented with an award for his dedication to passing the Louisiana Tax Credit. La Clean Tech Network credits Mr. Gautreaux with being the "Father of the Solar Industry" in Louisiana...read more

Southern Building Institute is formed by La CleanTech along with Louisiana based building professionals and teams up with Texas A&M to apply for DOE Build America grant.

Global Green Holy Cross Project partners with La CleanTech to begin workforce development program for Solar Installers during installation of 5kW solar electric system in the ninth ward...read more .

Louisiana Economic Development office and La CleanTech are working towards getting Solar PV manufacturere to locate a 175MW a year plant to locate in New Orleans to produce state of the art solar systems.


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