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Tax Credit Consulting: Solar Tax Credit Rutland VT

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
1197 Williston Rd
South Burlington, VT

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Champlain Tax Service
(802) 863-1040
20 Kimball Ave
South Burlington, VT
 
H&R Block
(802) 863-9999
155 DORSET ST
SOUTH BURLINGTON, VT

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Lachance Susan CPA PC
(802) 878-7677
45 Logwood Cir
Essex Junction, VT
 
H & R Block
(802) 879-0683
187 Pearl St
Essex Junction, VT
 
Alpha Omega Tax And Investment
(802) 878-6155
1 Market Pl Unit 22
Essex Junction, VT
 
H&R Block
(802) 388-3190
260 Court ST
Middlebury, VT
 
H&R Block Inside The Centre
(802) 388-3190
260 COURT ST
MIDDLEBURY, VT

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Jacob Philip H Tax And Business Services
(802) 862-8889
12 Perrotta Pl
Burlington, VT
 
Guinness Tax Service
(802) 658-2132
34 Patchen Rd
South Burlington, VT
 
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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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