Residential Tax Credits
• Federal Energy Tax Credit - PDF Download
Through 2016, consumers are eligible for a federal tax credit equal to 30% of the installed cost of a solar electric system or solar water heater. There is no cap on those solar systems installed after December 31, 2008.
Commercial Federal Incentives
• Modified Accelerated Cost-Recovery System + Bonus Appreciation - PDF Download
A structure or major piece of equipment built or installed to permanently add value and capacity to a commercial property, such as a PV system, can qualify for accelerated depreciation tax advantages through the Modified Accelerated Cost Recovery System (MACRS). The federal Economic Stimulus Act of 2008, enacted in February 2008, included a 50% bonus depreciation provision for eligible renewable-energy systems acquired and placed in service in 2008.
• Energy Tax Credit
Through 2016, businesses are eligible for a federal tax credit equal to 30% of the installed cost of a solar electric system or solar water heater. There are no tax credit caps on either solar electric system or solar water heater installations. These tax credits will be available in the form of a grant for those systems placed in service or under construction during the years 2009 and 2010.
• Renewable Energy Production Incentive (REPI)
The Federal Energy Production Tax Credit can be claimed for the first ten years of your system operation. Financial incentive payments for electricity produced and sold is $0.015 per kWh. Though available through 2026, this incentive is subject to annual federal appropriations.