federal 30 percent tax credit

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poleikleng
poleikleng Solar Expert Posts: 29 ✭
in General Solar Power Topics #1
Is the federal 30 percent tax credit for solar pv only a one time usage?

If I want to add on to my array and have already used the 30 percent tax credit in a previous year am I able to use the 30 percent tax credit again in the future?

Poleikleng
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  • russ
    russ Solar Expert Posts: 593 ✭✭
    #2
    Re: federal 30 percent tax credit

    Reusable tax credits - don't let the politicians hear about that one - they would love it.
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  • solarix
    solarix Solar Expert Posts: 713 ✭✭
    #3
    Re: federal 30 percent tax credit

    It can be used every time you "place in service" more solar generation.

    However, I don't know how much red tape you have to go through to do an installation, but I tell people they are better off to do it all at once. Also, if you can't use all the tax credits in the current year, you are allowed to carry the excess forward to the next year.
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  • poleikleng
    poleikleng Solar Expert Posts: 29 ✭
    #4
    Re: federal 30 percent tax credit

    Thanks for the response.

    Poleikleng

    solarix wrote: »
    It can be used every time you "place in service" more solar generation.

    However, I don't know how much red tape you have to go through to do an installation, but I tell people they are better off to do it all at once. Also, if you can't use all the tax credits in the current year, you are allowed to carry the excess forward to the next year.
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  • sub3marathonman
    sub3marathonman Solar Expert Posts: 300 ✭✭✭
    #5
    Re: federal 30 percent tax credit

    You can carry the credits forward, BUT, and as a non-tax-professional with the warning that you should consult your own professional, I think the time limit for carrying them forward is 2016.
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