Tax Credit Buying Guide For Solar Energy Products
Both The Purchase Price And Installation Cost Of A Solar Energy Powered Product Qualify For A 30% Federal Tax Credit And May Qualify For State Tax Credits!
Tax Credit Commonly Asked Questions:
1) Does a solar energy powered product qualify for a federal tax credit?
ANSWER: YES! Both the Purchase Price AND Installation Cost of a solar energy powered product qualify for a 30% federal tax credit. The credit applies to equipment placed in service between January 1, 2009 and December 31, 2016. IRS Form # 5695 (Download pdf here) is needed to apply for this credit. Enter the installed cost on line 1 of the form.
2) Does a solar energy powered product qualify for a state tax credit?
ANSWER: State tax incentives vary from state to state. Please check http://www.dsireusa.org/ to see if your state offers an incentive.