30 Jul Solar Power and Tax Credits
What types of solar electric systems qualify for the 30% Federal Tax Credit?
- ANY complete solar power bundle, for home or business.
- Crisis battery reinforcement framework, as long as the purchase incorporates no less than one solar panel
- Product purchases that grow your current solar system and incorporate no less than one solar panel.
- Solar system for RV and watercraft that has been acknowledged by the IRS as a second home for tax purposes.
Some Facts Regarding Eligibility of the Federal Tax Credit*
- The home served by the framework does not need to be the taxpayer’s main habitation.
- On the off chance that the government tax credit surpasses your expense obligation, the overabundance sum may be conveyed forward to the succeeding taxable year.
- There is no ceiling to the tax credit that you can receive.
- Applies to gear AND installation costs.
- For Residential Renewable Energy Systems, use IRS Tax Form 5695 to report your costs (It can be utilized for any home, not simply your primary one). Learn more about private tax credits.
- Business systems have comparative rules as residential systems however utilize IRS Tax Form 3468. Learn more about business tax credits.
- Systems must be put in place on or after January 1, 2006, and at the very latest December 31, 2016.
* Every individual’s tax circumstance is distinctive. If it’s not too much trouble counsel a tax professional to verify your circumstance is material.
So the time to go solar is now! Don’t miss out on your chance to receive a 30% tax credit. Call Sol-Up Las Vegas today at 702-586-9800 for your free quote.