Comments on: How to Calculate the 30% Federal Solar Investment Tax Credit (ITC)

By: bob hope

Thu, 02 Feb 2012 18:54:35 +0000

The information is not correct according to a private letter ruling form the IRS regarding this matter. The cost basis for the rebate is calculate before any REC payments (sometimes called rebates) from utilities. The unfortunate side effect of this ruling is that the rebate is now income and is taxed accordingly. Read the Private Letter Ruling 201035003 at http://www.irs.gov/pub/irs-wd/1035003.pdf for more details.

By: andy

Thu, 07 Apr 2011 21:18:14 +0000

im looking into building and installing a ppm (electro magnetic) generator system can i get the same grants as a solar system?

By: Frank

Wed, 23 Mar 2011 03:45:15 +0000

I just put on a new roof and a 9.66kw solar array. It was a roofing/solar company that installed it. They informed me I needed a new roof to hold the solar array. Can I get 30% back off the roof and the solar, as it was an additional cost?

By: stan

Tue, 22 Feb 2011 18:09:36 +0000

For condo associations I understand that they don’t get the State and Federal tax rebates. Bummer

By: Dan

Mon, 13 Dec 2010 02:12:16 +0000

I am trying to squeeze in a federal grant for a solar system beginning construction before 12/31/10. At this point, I was ready to order and pay for the inverters. My accountant is unsure whether the inverters constitute “solar energy property” for purposes of the grant. Seems to me that it is a no brainer but he’s got me worried.

By: susco

Wed, 17 Nov 2010 17:08:44 +0000

if you add panels to your system 2 years later can you take the 30% for the add. panels?

By: micheal rivera

Mon, 13 Sep 2010 03:14:35 +0000

Great, Great information, I am seriouly trying to install a micro invertor system in NYS and your site is very helpful. Keep it up and thanks.
Mike

By: Tor a.k.a. "Solar Fred"

Thu, 19 Aug 2010 03:38:01 +0000

Dave, short answer is yes, but not all at once. From what we understand, the balance will be rolled over into next year, so you’ll have another $1,000 to use as a credit for next year.

Hope that helps,

Solar Fred

By: dave shaffer

Wed, 18 Aug 2010 14:41:22 +0000

Installed a 5kw system and am eligible for a $9600.00 30% rebate but have only paid $8600.00 in Fed taxes. Will I receive the full $9600.00 rebate after filing 2010 taxes?

By: Dan Hahn

Sat, 07 Aug 2010 01:11:44 +0000

Arborlast,

That $500 per .5kW cap is for fuel cells, not home solar energy. The solar energy credit is 30% of costs. Hope you filed for all the money due to you!

- Dan