Solar Power Tax Deduction

Larry » 07 June 2008 » In Clean Energy, Solar »

The US Tax Code allows a one time tax deduction of up to $2000 and up to 30% of the cost of a photovoltaic solar energy system (Click here for IRS, or click here). So any taxpayer who install this kind of system will get back 30% of the first $6,666.67 - up to $2,000. Typical residential scale full sized solar energy systems cost $28 to $80 thousand, so that tax rebate is fairly trivial for most of the US. But if you live in NJ, California, or somewhere where electricity costs more than twenty Cents per kwh, it makes sense.

Consult your tax advisor. Then consult your local solar electric contractor.

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