Country:United States
Year:2006 (amended 2008, 2009)
Policy status:In Force
Jurisdiction:National
Date Effective:2006 (amended 2008, 2009)
Policy Type:Economic Instruments>Fiscal/financial incentives>Tax relief
Policy Target:Wind, Geothermal, Solar>Solar photovoltaic, Solar Thermal
Policy Sector:Multi-sectoral Policy
Size of Plant Targeted:Small
Agency:Internal Revenue Service (IRS)
URL:http://www.irs.gov/credits-deductions/individuals/residential-energy-efficient-property-credit
Legal References:26 USC § 25D
Description:

A taxpayer may claim a credit of 30% of qualified expenditures for a system that serves a dwelling unit located in the United States that is owned and used as a residence by the taxpayer. Expenditures with respect to the equipment are treated as made when the installation is completed. If the installation is at a new home, the "placed in service" date is the date of occupancy by the homeowner. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year. The maximum allowable credit, equipment requirements and other details vary by technology, as outlined below.

Last modified: Thu, 09 Feb 2017 15:12:14 CET