Benefits for Homeowners

This call will help you understand the process and answer any questions you may have.

There are some details about your system we'll need to know in order to prepare your tax forms.

All the necessary tax forms will be completed for you, according to the answers from your questionnaire.  Hand this to your CPA or head to TurboTax.

A Playlist of "how to" videos in case you want some added assistance.

The Solar Investment Tax Credit (ITC) gives a tax credit equal to 30% of what you spend on installing solar panels at your home. You pay for the panels and installation first, then claim the credit on your taxes for that same year. You have up to five years to claim it.

The federal ITC credit is equal to 30% of the cost of your solar system. This is a non-refundable credit. This does not guarantee that you will receive a check from the government for 30% of the cost of your solar system. - A nonrefundable credit can be used to pay your tax liability, but the IRS will not send a refund for any additional credit beyond your tax liability.

Depreciating equipment on taxes begins the year the system is placed into service. (Not the constructed date but the date the power was turned on.)  

A tax credit is used to pay your tax liability dollar for dollar. A deduction is a reduction in your taxable income. - The information provided in this FAQ answer should not be accepted, construed, or interpreted as tax advice. Be sure to set up a consultation to discuss your specific tax situation.