See how the tax credits for installing a solar power system increase your returns. Our online estimator shows you what solar systems cost and how much the tax credits are:
|This estimator was developed in partnership with the US Dept of Energy.|
This Solar Calculator will compute the size and estimated cost to install a solar energy system for your home or building. The solar calculator's financial analysis is based on energy bill savings you can expect and the net solar system cost, after tax credits and other incentives are applied. The solar calculator results are based on many assumptions and the limited data you will enter. An actual site assessment by a trained professional contractor will be needed to determine the actual costs and benefits of installing a solar energy system.
|US Federal Incentives for Solar, Wind, Renewable Energy & Energy Efficiency
There are several financial incentives and measures to stimulate energy efficiency and solar, wind and other renewable energy development, manufacturing, installation and operation in the United States.
Federal Tax Credits for Solar Electric (PV), Solar Water heating, Wind and other Energy Efficiency systems: The Residential Energy Efficient Property Credit is a nonrefundable energy tax credit to help individual taxpayers pay for qualified residential alternative energy equipment, such as solar electric (PV) systems, solar hot water heaters, geothermal heat pumps and wind turbines. The Investment Tax Credit (ITC) is for non-residential (corporate) investments. The tax credit is equal to 30 percent of the cost of qualified property.
Residential Energy Credits: IRS Form 5695 & Instructions
Corporate Investment Tax Credit: IRS Form 3468 & Instructions
Note: If you recive a rebate from a Utility (non-public funds) then you may need to subtract the rebate amount from the system cost (to attain "net cost") to determine the cost basis for the Investment Tax Credit.
Source EnergyStar.gov: Top Ten Frequently Asked Questions
Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in certain property through depreciation deductions. A number of renewable energy technologies are classified as five-year property under MACRS. To qualify for MACRS depreciation, a project must satisfy certain criteria: See DSIREUSA.org
|HELPFUL PDF's & Links|
|Residential Energy Credits: IRS Form 5695 & Instructions|
|Corporate Investment Tax Credit: IRS Form 3468 & Instructions|
|The Energy Star program also has information related to » tax credits for Consumers (Home Improvements, Cars, Solar Energy Systems, Fuel Cells), Tax Credits for Home Builders, Tax Credits for Appliance Manufacturers, and Tax Deductions for Commercial Buildings|
|There are many state, federal and local incentives available to help pay for the cost of installing renewable energy systems. Here is a Database of Grants and Rebates.|
|To help homeowners take advantage of the energy efficiency tax credits, the Alliance to Save Energy (ASE) has created a special tax credits Web site. See the ASE Energy Efficiency Tax Credits Web site.|