What are the tax incentives for Solar Star Attic Fans?
Homeowners are eligible for tax credits for qualified photovoltaic systems purchased and installed between January 1, 2009 and December 31, 2016*. What is the amount of the tax credit the homeowner is eligible to receive? For solar photovoltaic (PV) systems, the allowable tax credit is 30% of the qualified PV system expenditures, including both product and installation costs. What is the maximum amount of cost on which the credit can be figured? There is no credit cap for residential photovoltaic (PV) systems placed into service after December 31, 2008. Does the qualifying unit need to be installed in the homeowner’s primary residence? Unlike other consumer energy tax incentives, the dwelling does not need to be the primary residence (rental properties and second homes are eligible) and applies to both existing homes and new construction. What is the difference between a tax deduction and a tax credit? A tax deduction is subtracted from income before total tax liability is computed. On
