- As part of the American Recovery and Reinvestment Act of 2009, Congress gave people considering investing in solar a very nice incentive to go solar:
- The big one – For Residential-non-businesses. Here you can get a 30% tax credit for solar. Previously, there was a cap of $2000, but no more until 2016. Get it while you can.
- Remember that a tax credit is not like a tax refund. It ain’t cash, but you can use that credit towards paying your tax bill. Any left over credit can be applied to your next year’s taxes.
- Businesses also qualify under the Investment Tax Credit (ITC) along with other incentives.
- Contractors who build new homes – Can get $2000 per energy efficient home that meets certain guidelines.
- You can also get a tax credit towards solar hot water, new windows, and insulation, and other measures. All that info is also in this document here.
- See this loved and treasured post for a broad outline of these and other solar incentives.
- Naturally, we’re not tax attorneys, but 3 humble solar dudes who are very afraid of giving tax advice to anyone, so please check with your tax preparer to see how these incentives will affect you on April 15th.
Last modified: September 19, 2007