Tuesday, October 6, 2009

Dash for Green Cash

If you invested in green funds the past couple years, you likely lost your shirt--even more so than others--in the current recession according to an article in today's Boston Globe. But the smart money today, the article goes on to say, is in another type of green investing; eco-improvements on your home that will reduce your cost of living.

Nowhere does this seem to be more true than in Massachusetts. I've been looking into installing solar photovoltaic panels on our condo and with the combination of state and federal tax credits and rebates, they are practically giving the stuff away.
From what I can tell, a 5 kw, $50,000 system that would cover all of our electric needs and allow us to sell back to the grid would cost $12,000 after a $22,000 state rebate, a 30 % federal tax credit (with no cap), and a 15 % state tax credit (with a cap at $1000).

Unfortunately, it seems too many people have caught on to how good of a deal this is and starting tomorrow night at midnight the state is scaling back its rebate. The 50K system that currently goes for $12,000, will now come in at $15,500.

Anybody want to spot me 12K by midnight tomorrow?

image courtesy of Wikimedia

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