Solar panel tax credits turn into high-stake battle

David Hammer / Eyewitness News

The Legislature is poised to vote on major changes to the state’s solar tax credits this weekend, and the effort to end the credits by 2017 has turned into a high-stakes battle between factions in the solar industry.

The state offers 50 percent tax credits on the first $25,000 worth of solar panels installed and connected to a home’s electrical system. The feds offer a 30 percent credit, meaning homeowners only have to front $5,000 to get a typical $25,000 system.

Since 2010, leasing companies have also been able to take advantage of the tax credits, so they can collect the credits and may lease the panels and system to homeowners in exchange for a monthly payment of around $60.

But the state is in a budget crunch, so, along with other tax credit programs, the solar credits are on the chopping block.

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