Proudly Made in the USA!
$ INCENTIVES TO GO SOLAR $
30% Federal Tax Credit!
All Skyline Collectors and Systems qualify
for the Federal 30% Tax Credit
Click on the link to the Left to learn about the Federal Rebate and
possible Incentives from your State or Utility Company.
A taxpayer may claim a credit of 30% for a solar water heating system that serves a dwelling unit located in the United States and used as a residence by the taxpayer. Expenditures with respect to the equipment are treated as made when the installation is completed.
If the installation is on a new home, the "placed in service" date is the date of occupancy by the homeowner.
Expenditures include labor costs for onsite preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home.
If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year. The excess credit can be carried forward until 2016, but it is unclear whether the unused tax credit can be carried forward after then. The maximum allowable credit, equipment requirements and other details vary by technology, as outlined below.
Note: The American Recovery and Reinvestment Act of 2009 does not allow taxpayers eligible for the residential renewable energy tax credit to receive a U.S. Treasury Department grant instead of taking this credit.
Slash Your Utility Bills: Power Up on Your Own Now is a great time to upgrade your house to use less energy -- and maybe even generate your own.
ByJessica L. Anderson, Associate Editor
From Kiplinger's Personal Finance magazine, October 2009
If Uncle Sam ran an infomercial plugging its new energy programs for homeowners, it might sound something like this: For a limited time only, get federal aid for home improvements that can help you reduce your tax and energy bills! Through 2010 you can cut your tax bill by 30% of the cost of certain projects, up to $1,500! And through 2016 you can get a credit for 30% of the cost -- with no limit -- of geothermal heat pumps, solar panels, solar water heaters, small wind-energy systems and fuel cells!
And that’s no hype. Washington is serious about energy efficiency, and will pay up to $1,500 for home improvements, such as windows and doors, certain insulation projects, roofs and high-efficiency water heaters (for more information, visit www.energystar.gov).
The government has also slated $300 million for rebates on the purchase of Energy Star-qualified appliances (see www.dsireusa.org for details). The money should be available late this year or early next.
With the federal government chipping in 30% of the cost, generating power at home makes economic sense for many Americans. In addition to the federal tax credit, 44 states offer renewable-energy tax incentives, ranging from property- and sales-tax discounts to income-tax credits. Rebates are available in 42 states from a variety of sources, including utility companies (see www.dsireusa.org for incentives in your state).
Lower prices combined with government incentives mean that a home power system should pay for itself -- but in most cases it’s a long-term proposition. One thing you can count on, though: Energy prices from your local utility will only go up, so your home power system will look like a smarter decision as time goes by.
Solar hot water. A solar hot-water setup is relatively inexpensive and has a quick payback.
How it works: Collector boxes (usually placed on your roof) trap solar heat and preheat cold water. On a sunny day, even in the winter, the fluid in the collectors can reach 150 degrees Fahrenheit. The heated water then flows either to your existing hot-water tank or to a special tank.
On a $7,000 system, the federal credit drops the price to just $4,900. State and local incentives vary widely, but they can really add up.
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30% FEDERAL TAX CREDIT
State and Utility Rebates!
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