Solar Federal Investment Tax Credit, Energy Efficiency Tax Credit. Solar tax incentiv
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Tax Credits for Solar, Wind, Renewable Energy & Energy Efficiency
Federal Programs & Incentives
| US Federal Incentives for Solar, Wind, Renewable Energy & Energy Efficiency There are several financial incentives and measures to stimulate energy efficiency and solar, wind and other renewable energy development, manufacturing, installation and operation in the United States. Federal Tax Credits for Solar Electric (PV), Solar Water heating, Wind and other Energy Efficiency systems: The Residential Energy Efficient Property Credit is a nonrefundable energy tax credit to help individual taxpayers pay for qualified residential alternative energy equipment, such as solar electric (PV) systems, solar hot water heaters, geothermal heat pumps and wind turbines. The Investment Tax Credit (ITC) is for non-residential (corporate) investments. The tax credit is equal to 30 percent of the cost of qualified property. Residential Energy Credits: Corporate Investment Tax Credit: Note: If you recive a rebate from a Utility (non-public funds) then you may need to subtract the rebate amount from the system cost (to attain "net cost") to determine the cost basis for the Investment Tax Credit. Source EnergyStar.gov: Top Ten Frequently Asked Questions MACRS Depreciation: Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in certain property through depreciation deductions. A number of renewable energy technologies are classified as five-year property under MACRS. To qualify for MACRS depreciation, a project must satisfy certain criteria: See DSIREUSA.org |
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| HELPFUL PDF's & Links | ||
| Residential Energy Credits: |
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| Corporate Investment Tax Credit: |
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| The Energy Star program also has information related to » tax credits for Consumers (Home Improvements, Cars, Solar Energy Systems, Fuel Cells), Tax Credits for Home Builders, Tax Credits for Appliance Manufacturers, and Tax Deductions for Commercial Buildings | ||
| There are many state, federal and local incentives available to help pay for the cost of installing renewable energy systems. Here is a Database of Grants and Rebates. | ||
| To help homeowners take advantage of the energy efficiency tax credits, the Alliance to Save Energy (ASE) has created a special tax credits Web site. See the ASE Energy Efficiency Tax Credits Web site. |
