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Tax Credit Consulting: Solar Tax Credit Riverdale GA

These credits were prime examples of the tax codes being used to encourage policy that was deemed in the best interest of the country. Included in the act were credits for energy efficient appliances, hybrid automobiles, and solar energy heating panels.

Liberty Tax Service
(866) 871-1040
501 Highway 138 Sw
Riverdale, GA

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Rivers Income Tax Service
(770) 477-6602
10214 Fitzgerald Rd
Jonesboro, GA

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H&R Block Inside Lake City Commons Shopping Center
(678) 422-3002
5656 JONESBORO RD
LAKE CITY, GA

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H&R Block
(770) 960-7307
6550 MT ZION blvd STE 103
MORROW, GA

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FDA Tax Services
(770) 994-9454
5373 Riverdale Rd
Atlanta, GA
 
MICAH BYRD Mobile Bookkeeping & Tax Service
(770) 573-4125
804 Commerce Blvd Suite A7
Riverdale, GA

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H&R Block
(404) 968-0032
4764 JONESBORO rd
FOREST PARK, GA

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Jackson Hewitt
(404) 254-6000
5330 Old National Highway
College Park, GA

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Jackson Hewitt
(404) 260-7388
2047 Mount Zion Road
Morrow, GA

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H&R Block
(770) 477-7069
7050 Tara Blvd
Jonesboro, GA

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Tax Credit Consulting: Solar Tax Credit

Solar Tax Credit

The Solar Tax Credit is the common name given to a provision of the Energy Policy Act of 2005 that allowed tax credits for certain solar related items used in home improvements.

The Energy Policy Act of 2005 established some serious tax credit incentives designed to reduce the reliance on fossil fuels in the United States. These credits were prime examples of the tax codes being used to encourage policy that was deemed in the best interest of the country. Included in the act were credits for energy efficient appliances, hybrid automobiles, and solar energy heating panels. The credit concerned with solar energy was referred to as the Solar Tax Credit.

It is important to note that the credits applied only to items purchased and put into service after December 31, 2005 and before January 1, 2008. So, although the credit has now expired, it may be taken on your 2007 tax return if items were put into service this past year. The credit is based on 30% of the cost of the installed systems up to a maximum of $2000.

The systems had to meet certain other qualifications as well. The systems included solar panels for heating, solar water heating systems, and fuel cell power plants. The solar heating units had to have an efficiency rating of at least 30% and produce at least 0.5 kilowatts of electricity. The 30% of actual cost up to a maximum of $2000 could be taken on all three systems separately. The fuel cell power plant credit was limited, however, to an a...

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