Green Party U.S. – Green Technology, Recycling & Alternative Energy News & Information

Installing solar energy systems still benefits tax payers

July 22, 2015 by · Leave a Comment 

Article written by : Landscape Gardening Idea

If you are living in the Western states of the United States, you know the power of the sun. It shines all throughout the year with much less interruptions. No wonder why solar energy is more popular in these parts of the United States of America.

There are federal, state and local government incentives mainly in the form of tax credits available for homeowners as well as business owners to switch to solar power. Under the federal incentive program, participants can deduct up to 30 percent of the cost of solar installation from their federal taxes. The most important fact is that if there are not enough tax obligations this year to claim, excess credits can be rolled over to future tax years. Those businesses that are converting to solar energy can also claim up to 30 percent of the installation cost from their yearly tax bill. Added benefits for business owners are the ability to depreciate the cost of improvement along with the cost of the property on yearly basis and the MACRS accelerated depreciation for equipment.

State benefits vary from state to state. The State of California administers its program through the California Solar Initiative. Contact your state for details.

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