Residential:
Incentive Type: Personal Tax Credit
Eligible Renewable/Other Technologies: Solar Water Heat, Photovoltaic, Fuel Cells, Other Solar Electric Technologies
Applicable Sectors: Residential
Amount: 30%
Maximum Incentive: $2,000 for solar-electric systems and solar water-heating systems; $500 per 0.5 kW for fuel cells
Carryover Provisions: Excess credit may be carried forward to succeeding tax year
Eligible System Size: Please verify
Equipment/Installation Requirements: Solar water heating property must be certified by SRCC or by comparable entity endorsed by the state in which the system is installed. At least half the energy used to heat the dwelling's water must be from solar in order for the solar water-heating property expenditures to be eligible.
Governing Authority 1: 26 USC § 25D
Date Enacted: 8/8/2005
Effective Date: 1/1/2006
Expiration Date: 12/31/2008
Commercial:
Incentive Type: Corporate Tax Credit
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaic, Geothermal Electric, Fuel Cells, Solar Hybrid Lighting, Direct Use Geothermal, Microturbines
Applicable Sectors: Commercial, Industrial
Amount: For equipment placed in service from January 1, 2006 until December 31, 2008, the credit is 30% for solar, solar hybrid lighting, and fuel cells, and 10% for microturbines. The geothermal credit remains at 10%.
Maximum Incentive: $500 per 0.5 kW for fuel cells; $200 per kW for microturbines; no maximum specified for other technologies
Eligible System Size: Microturbines less than 2 MW; fuel cells at least 0.5 kW
Governing Authority 1: 26 USC § 48
Governing Authority 2: 26 USC § 48
Contact the governing authorities:
Public Information - IRS
Internal Revenue Service
1111 Constitution Avenue, N.W.
Washington, DC 20224
Phone: (800) 829-1040
Web site: http://www.irs.gov
Department of Environmental Protection
Florida Energy Office
Matthew Stamatoff
2600 Blairstone Road MS #19
Tallahassee, FL 32399-2400
Phone: (850) 245-8002
Fax: (850) 245-8003
E-Mail: matthew.stamatoff@dep.state.fl.us
Web site: http://www.dep.state.fl.us/energy/
Summary:
The Energy Policy Act of 2005 (H.R. 6, Sec. 1335) established a 30% tax credit up to $2,000 for the purchase and installation of residential solar electric and solar water heating property. An individual can take both a 30% credit up to the $2,000 cap for a photovoltaics system and a 30% credit up to a separate $2,000 cap for a solar water heating system. A 30% tax credit up to $500 per 0.5 kilowatt (kW) is also available for fuels cells. Initially scheduled to expire at the end of 2007, the tax credits were extended through December 31, 2008, by Section 206 of the Tax Relief and Health Care Act of 2006 (H.R. 6111).
Disclaimer:
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For more detailed information please goto: www.dsireusa.org
