Solar System Tax Credits And Incentives
We will help you identify, utilize and qualify for all federal, state and local rebates, grants and solar tax credits.
The American Recovery and Reinvestment Act of 2009 extended many consumer tax incentives originally introduced in the Energy Policy Act of 2005 (EPACT), and amended in the Emergency Economic Stabilization Act of 2008 (P.L. 110-343).
The 30% federal tax credit for solar energy greatly reduces the total cost of solar.
A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces taxes dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.
Federal Tax Credits For Consumer Energy Efficiency
Solar Energy Systems Tax Credit Details: 30% of the cost, up to $500 per .5 kW of power capacity.
Expires: December 31, 2016
Details: Existing homes & new construction qualify, and they must be your principal residence. Rentals and second homes Do Not qualify.
DSIRE SOLAR – Federal Incentives / Policies For Renewables & Efficiency
DSIRE Solar provides comprehensive information on state, local, utility, and federal incentives and policies that promote solar energy. Funded by the U.S. Department of Energy’s Solar Energy Technologies Program, DSIRE Solar provides solar-specific policy information to consumers, policy makers, businesses, utilities, researchers and other stakeholders.
The federal incentives included in DSIRE are generally limited to those available on an ongoing basis to residents, businesses and other end-users. DSIRE does not include federal funding opportunities for research & development, demonstration projects, outreach or inter-governmental programs. Call us at 800-223-4417 to get more information and for the database of state incentives for renewables & efficiency energy.
Residential- Renewable Energy Tax Credit
Established by the Energy Policy Act of 2005, the federal tax credit for residential energy property initially applied to solar-electric systems, solar water heating systems and fuel cells.
USDA – Rural Energy for America Program (REAP) Grants
The Food, Conservation, and Energy Act of 2008 (H.R. 2419), enacted by Congress in May 2008, converted the federal Renewable Energy Systems and Energy Efficiency Improvements Program into the Rural Energy for America Program (REAP).
Business- Modified Accelerated Cost-Recovery System (MACRS) + Bonus Depreciation (2008-2012)
Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in certain property through depreciation deductions.
Call us at 844.477.2946 to get more information and to find out more about local, utility, and federal programs in your area for home and business.