Solar energy finds a home
Tapped out by the cost of fossil fuels? Then what better time for solar energy to get its moment in the sun?
Using the sun's rays to power homes is not just for tree huggers anymore. Of course, mitigating acid rain, smog and global warning is always noble. Solar energy systems, however, are now starting to make sense in terms of dollars and cents.
Last week Suffolk became the first county in the state to eliminate the sales tax on solar heating systems for electricity and hot water. The commendable action by Suffolk officials to encourage solar use comes just after New York State exempted such power systems from state sales tax, in addition to providing tax credits. A similar bill is expected to be introduced in the Nassau County legislature soon.
The elimination of the sales taxes, combined with the income tax credits and a 50 percent LIPA rebate, has significantly lowered the cost of a small residential unit to $9,000, from $26,070. And that's not counting a new federal tax credit that will kick in Jan. 1.
The 3,150-kilowatt unit would reduce a typical fuel bill by about $500 a year at current prices. The new laws are also intended to create energy entrepreneurs. LIPA is required to buy back from homeowners any extra solar energy.
While the region is considering windmills in the Atlantic Ocean and floating liquefied natural gas platforms in the Long Island Sound, new sources of energy could be right in homeowners' own backyards.
|