federal tax credit

jtdiesel65

I know that you can take the credit for PV and for SolarHydro, but can you take the credit for PV once in 2006 and then again in 2008?

I took the tax credit for PV on my 2006 tax year. This was a $2000 credit.

The question is if I install another array in 2008, can I take another $2000 credit?

My understanding is the program extends to Dec 2008, I'm just not sure if it was supposed to be a one-time credit or if it can be used each year.

thanks

jtdiesel65

Re: federal tax credit

I haven't found an answer to this question. Sounds like you can, but this seems to be a fuzzy area.

Interestingly, a new bill to extend this credit is being proposed in the senate. The most interesting aspect is that the new bill proposes to eliminate the $2000 ceiling and that means that one could receive a full 30% credit.

GreenerPower

Re: federal tax credit

Look at IRS tax form 5695, don't look like there is limit like the ones for energy efficiency as windows.
GP

n3qik

Re: federal tax credit

GreenerPower wrote: »

Look at IRS tax form 5695, don't look like there is limit like the ones for energy efficiency as windows.
GP

Look at line 18, Max credit is $2000.00.

GreenerPower

Re: federal tax credit

I meant limit like every 2 years. $2000 cap still applies in 2008. Hopefully the proposed bill is passed to lift this limit for 2009 and on.
GP

n3qik

Re: federal tax credit

I see, ok.


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