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A bungled tax credit program has clouded the forecast for Louisiana’s solar power industry

Source: businessreport.com - Feb 21, 2017

Louisiana’s once promising solar power industry is on the ropes, as thousands of solar system owners continue to reel from a retroactive state statute that left them each owing as much as $12,500 in installation costs. While legislation could be introduced this spring to reimburse the owners, solar installers feel their industry is irreparably damaged.

In 2015, an estimated 2,000-plus homeowners paid for solar electric panel systems thinking they would be reimbursed by a progressive state program that promised a maximum “refundable tax credit” of up to half the cost of a $25,000 system. However, that same year Act 131 of the state Legislature capped the remaining available credits at $25 million and made the cap retroactive to the beginning of 2015.

Category: General Business