Background

Category: Tax Credits

USDA Taking Applications for Rural and Farm Energy Funding

On January 20, USDA announced that it is taking applications for Rural Energy for America Program (REAP) funding. For FY2012, USDA has $25.4 million in budget authority for REAP, which will support at least $12.5 million in grant funding and approximately $48.5 million in loan guarantees. USDA is taking applications for all components of the …

Residential Tax Credit

Massachusetts allows a 15% credit — up to $1,000 — against the state income tax for the net expenditure of a renewable-energy system (including installation costs) installed on an individual’s primary residence. If the credit amount is greater than a resident’s income tax liability, the excess credit amount may be carried forward to the next …

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