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Getting a solar application installed makes you eligible for a renewable energy tax credit.
However figuring out if your installation qualifies for a tax credit can be confusing.
Before buying any type of renewable energy installation such as wind or solar generator, make sure to read the fine print.
Most manufacturers often include details of tax credit and how much you can save.
Getting a solar energy tax credit is still possible today.
There are several renewable energy installations that are available for a tax incentive, however; some restrictions apply.
Photovoltaic power systems and solar water heating systems that was in service by December 31st, 2016 are qualified for a tax incentive of 30 percent of the cost with no maximum.
The deadline of 2016 gives home owners plenty of time to install the system.
In order to qualify, the solar system must have a Manufacturer's Certification Statement.
This will serve as a proof that product is qualified for a tax credit.
Other installations qualified for a tax credit are geothermal heat pumps, photovoltaic panels, solar water heater, small wind energy and fuel cells.
For solar water heaters, A requirement of at least half or the energy generated by the qualifying installation must come from the sun alone.
Qualified home owners can claim tax incentive for the solar water heater installation only, not including the entire water heating system of the household.
The tax incentive does not apply to products purchased for swimming pools or hot tubs.
The water used for the solar water heater must be used for the household.
It is also important that the solar water system is certified by the Solar Rating and Certification Corporation (SRCC).
A photovoltaic system also has to meet several requirements in order to qualify for a tax incentive.
The system should generate power for the household.
It is also important that the system meets the applicable fire and electrical code requirement.
These renewable energy tax incentives are available to citizens of United Stated including its surrounding territory.
Some states even offer their own incentives.
To know more about solar tax incentives, visit the DSIRE database.
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