Yes! In 2005 President George W. Bush passed the Energy Policy Act which offers financial incentives to Americans to use more energy-efficient technology such as electric cars, small-wind turbines, and solar electricity.
According to the Department of Energy’s website, consumers who install solar energy systems in their houses can receive a 30% tax credit. This means the government will credit your taxes a third of the cost of the installation.
However, this tax break is only good for systems installed before December 31, 2016. It can be used on installation of solar panels for your primary residence, but secondary residences and rentals do not apply
Certain states may also have additional incentives for consumers installing energy-efficient solar electricity units. For example, in California that California Solar Initiative offers state residents rebates for those installing new San Diego solar energy units such as solar panels on existing homes. The amount of the rebate depends on type of solar panels, family income, location, etc.
How to Apply
In order to qualify for the 2011 solar panel tax incentive you will need to fill out the “2011 Form 5695” which includes the 1040 form. The residential energy tax credit claim can be made on line 52 of the 1040. You will also need to save your Manufacturer’s Certification Statement along with receipts of payment for your records.
For more information about solar electric San Diego call Go Solaire at 1-800-847-7751.
Further reading: Solar Energy: End to Incentives Will Harm Progress
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