Economic Recovery Act of 1981

This Act allowed for an Accelerated Cost Recovery System (ACRS) by which businesses can recover investments in solar, wind and geothermal property through depreciation deductions. The ACRS establishes the time over which various types of property may be depreciated (5-50 years). The current ACRS allows wind, solar and geothermal property placed in service after 1986 to be depreciated over five years.