Commercial & Residential Solar Federal Tax Credits, Rebates & Incentives
Commercial Solar Federal Investment Tax Credit (ITC) - Provides a 30% zero cap Investment Tax Credit for qualifying photovoltaic solar electric and solar hot water systems placed in service until 12/31/2016. Credit is allowable against regular and Alternative Minimum Tax (AMT) liability.
Residential Renewable Energy Tax Credit – Provides a 30% zero cap Personal Tax Credit for qualifying residential photovoltaic solar electric systems placed in service until 12/31/2016. Credit is allowable against regular and Alternative Minimum Tax (AMT) liability. Unused credit can be carried over to the following years. Qualifying residential solar hot water systems are eligible for the same 30% tax credit, but solar hot water systems are still capped at $2000.
More detailed information about the Residential Renewable Energy Tax Credit is available HERE.
Modified Accelerated Cost Recovery System (MACRS) – Corporate accelerated depreciation method for photovoltaic solar electric and solar hot water systems. Allows for a first year deduction of 50% of the total cost of the installed system. The balance cost recovery of the system can be depreciated in as little as 5 years.
More detailed MACRS information is available HERE.
Analysis of Federal ITC and MACRS Deduction
Disclaimer – Federal, State and local information regarding taxes, rebates and incentives is provided to the users of the Atlantech Solar website as a general representation of the tax credits, rebates and incentives available for photovoltaic solar electric and solar hot water systems. Atlantech Solar is not liable for any errors or omissions regarding the accuracy of the information provided. All prospective entities interested in installing a photovoltaic solar electric or solar hot water system should consult their tax advisors, consultants, State and local tax entities, utility providers and the IRS for detailed and up-to-date information about solar tax credits, rebates and incentives.
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