Federal Solar Tax Rebates
All of us remember the American Recovery and Reinvestment Act of 2009 (aka the Stimulus Bill). Leaving the politics aside, the bill did some very important things for solar, including extending the tax incentives put forth in 2005 for solar installation.
The full bill can be found at energy.gov. The main solar provision extends the energy tax incentive (“ITC”), which allows small business and homeowners to receive a 30% federal solar tax rebate on the cost of solar installation. This program, initially established in 2005, was set to end in 2012. The stimulus bill extended the program until 2017. The bill also eliminated the $2,000 rebate tax enacted in the initial bill.
If you are ready to claim your federal solar tax rebate you will need to fill out an IRS form 5695. Make sure to keep all of your receipts and paperwork as documentation.
And enjoy the knowledge that you are contributing to a cleaner future for our children!!