FOR IMMEDIATE RELEASE
October 9, 2008

Contact: Christian May
(301) 944-5128 direct
info@StandardSolar.com

Federal, State and Local Tax Incentives
Shorten Pay-Back Period for Home Solar Energy Systems

· Many homeowners can recoup 2/3 of their upfront investment
· Homeowners who act quickly will benefit the most

GAITHERSBURG, Md., Oct. 9, 2008 – Passage of an expanded federal tax credit for purchases of residential solar energy systems combined with new funds earmarked for solar grants in Maryland, Washington, DC and other mid-Atlantic states, along with property tax credits in certain counties, now offer homeowners unrivaled incentives to generate their own pollution-free electricity, said Anthony Clifford, President and Chief Executive Officer of Standard Solar, Inc.

“Taking advantage of these tax incentives could, for example, quickly pay back as much as two-thirds of the investment required for a typical 4 kilowatt system that currently costs a homeowner about $36,000,” Clifford said Thursday.

The Emergency Economic Stabilization Act of 2008, or H.R. 1424, which passed Congress last week and was signed into law by President Bush Friday, makes three key changes in how homeowners can benefit by putting the sun to work for them to better control their power consumptions and reduce carbon emissions attributable to them.

The new federal law:

Extends the availability of the tax credit through 2016;
Lifts the cap on residential systems so that the full 30% amount can be claimed on individuals or families’ federal income tax filing (previously only $2,000 could be claimed); and
No longer prevents taxpayers subject to the alternative minimum tax from taking the credit.

The full 30% federal credit applies to all installation costs, including solar panels and other materials, and the labor needed to put systems into service starting January 1, 2009. Construction on these systems can begin immediately.

“There are significant advantages to investing in residential solar electric systems and/or solar water heating systems now versus later,” Clifford said. “Maryland homeowners who act quickly will get quicker access to the limited funds set aside for the Maryland solar grant program. And these homeowners will be able to more quickly tap into limited county property tax rebate funds.”

Information about the Maryland solar grant program is on the web at: http://energy.maryland.gov/incentives/residential/solargrants/index.asp

Currently, at least three counties in Maryland offer rebates on property tax credits for solar systems certified by county authorities: Montgomery, Howard and Harford. Web links and telephone contacts to each county’s program are:

In Montgomery County, the telephone number is 240-777-7754. On the web go to: http://www.montgomerycountymd.gov/deptmpl.asp?url=/content/dep/Energy/incentives.asp

In Howard County, 410-313-4075; http://www.dsireusa.org/library/includes/incentive2.cfm?Incentive_Code=MD23F&state=MD&CurrentPageID=1&RE=1&EE=1

In Harford County, 410-638-3326;
http://www.dsireusa.org/library/includes/incentive2.cfm?Incentive_Code=MD24F&state=MD&CurrentPageID=1&RE=1&EE=1

A lot more information is available on the national database of renewable energy incentives housed at North Carolina State University at: http://www.dsireusa.org/index.cfm?EE=1&RE=1

As the mid-Atlantic region’s leading installer and developer of solar energy systems for homes, small businesses and government agencies, Standard Solar is uniquely equipped to meet the needs of homeowners throughout Maryland, Virginia, Delaware, Pennsylvania and the District of Columbia. A growing amount of information and web links to help interested parties decide if solar energy makes sense for them – and to take advantage of available tax credits – is being added daily to the company’s web site at www.StandardSolar.com.