...In many cases, the incentives and credits paid end up being more than the actual cost of the system.but for those who follow wealth transfers, just as fascinating.
Alrighty then, time to hit the Oregon Trail.
Hefty new federal tax credits and ambitions for cheaper, cleaner energy have lured record numbers of Long Islanders to install solar energy systems this year, raising concerns about LIPA's ability to keep up.I don't understand why everyone hasn't jumped on this money.
Applications for the Long Island Power Authority's generous rebates in the first quarter were triple last year's levels, and LIPA has already committed around half of its $12.5-million 2009 solar rebate budget.
Solar proponents and contractors worry that LIPA will reduce or even temporarily suspend the program if the budget runs out. LIPA last week said it is seeking additional funding sources and will adjust the program to keep it flush, if needed.
The surge in interest should be no surprise: Federal tax credits expanded with last year's stimulus bill let homeowners receive a credit for a third of the cost of a system, excluding LIPA's rebate, and removed a previous $2,000 cap. For systems that can cost between $30,000 and $75,000, the new federal credits, which can be taken over two years, are a big boost, knocking years off the five to 10 years it usually takes to pay off a system....MORE
For a shack like this, the larger of the two main homes on the Schmidlapp-Humes estate, 4000 square feet of roof would suck up a lot of money, errr, I mean solar energy.
Filed under: Estates
The Schmidlapp-Humes estate in East Hills, New York is one of the largest estates on Long Island. The home, built in the 1700s, home to the U.S. Ambassador to Austria, John Portner Humes and his wife Dr. Jean Schmidlapp-Humes. The home sits on almost 44 acres and has two main houses, four private homes and 14 garages. Practically a country club unto itself, the estate has four horse stables, tennis courts, two pools, pool house and an underground wine cellar. The largest home on the property has 22 rooms and the 8,400-square-foot Colonial was home to the former ambassador and his wife. This expansive property is listed at $36.5 million.