Federal Tax Credit
Save an additional 30% on the cost of a solar system
As of October 3, 2008 the Federal Solar Energy Investment Tax Credit (ITC) for homeowners and businesses has been extended through the end of 2016 via the Emergency Economic Stabilization Act of 2008. Residential and Commercial system owners can take a 30% tax credit for both Solar Electric and Solar Thermal Systems.
As of February 13, 2009 and the signing the American Recovery and Reinvestment Act by President Barack Obama, the $2,000 cap on qualified solar water heating property has been removed providing a full 30% credit. This means that both Residential and Commercial customers can take 30% of the system cost as a credit with no cap on both Solar Electric and Solar Thermal systems on solar systems placed in service after January 1, 2009.
Please download the SEIA Tax Guide below and consult your tax professional for advice on applying the ITC. Lighthousesolar cannot give tax advice:
SEIA Guide to Federal Tax Incentives for Solar Energy (version 2.0)
Summary of Federal Tax Credit provisions H.R. 1424
Solar Energy Industries Association (SEIA) www.seia.org
Tax Incentive Assistance Project www.energytaxincentives.org