30% of your solar investment is already paid for
Simply own a Sun City Solar System and take advantage of the new 30% solar tax credit. Not only do you lower your tax liability with the new solar tax credit, you also take control of your energy dollars by lowering your energy use. The Federal solar tax credit is subtracted off your bottom line tax liability. Or, If you receive a Federal tax refund, you may get an additional 30% of your solar investment added to your tax refund check.
Solar equipment placed in service in 2009 qualifies for a “depreciation bonus”. The owner can deduct half it’s depreciable basis in the equipment immediately.
30% solar tax rebate for solar power, solar hot water and solar heat.
For business, the subsidies are worth roughly 56%-58%.
Residential Solar Tax Credit
The residential solar rebate tax credit is 30% of your total solar investment for solar hot water, solar space heating, and solar power electric. The residential tax credit may be carried forward to 2016. To be eligible for the solar tax credit, solar thermal systems must be certified by the SRCC. There is no SRCC certification required for solar electric.
Commercial Solar Rebate Tax Credit
The commercial tax credit is 30%. The commercial solar rebate tax credit can be carried forward twenty years or back one year. Commercial projects also have the option during 2009 and 2010 to forgo the tax credit and receive the cash value instead from the US treasury as a grant. Your solar investment can be depreciated over 5 years on an accelerated basis. Interest on loans may also enter into the tax credit calculation under section 266 of the tax code. For a complete guide of the commercial and residential Federal tax credits, please visit www.dsireusa.org.
There is a difference between a tax deduction and a tax credit. A tax deduction is subtracted from income before tax liability is computed. A tax credit is subtracted from the total tax liability. Currently, there is no solar rebate for residential pool systems or solar heating systems.
Denton County Texas Solar Rebate – Get your Green Sense Rebates from Denton Municipal Electric. For every watt you save, they will issue you $2.46 cash back per watt.
Call (866) 407-0527 to find out about your Solar Rebate.
