Federal tax credits can help you save a bundle with when you purchase a Solatube Daylighting System or Solar Star®Attic Fan. Both the Solatube ISn Daylighting System and Solar Star Attic Fan qualify for a 30% federal tax credit because of integrated solar-electric technologies. Other Solatube Systems, including the Smart LED, may qualify for a 10% tax credit because of ENERGY STAR ratings.
The federal tax credit on Solatube 160 ISn and Solatube 290 ISn is 30%. This applies to both the purchase and installation of the daylighting system. For example, if the purchase and professional installation of your Solatube 160 ISn totals $650, you qualify for an income tax credit of $195, reducing your total cost to $455.
Unlike a tax deduction, which reduces your taxable income, a tax credit, on the other hand, is subtracted from the total amount of taxes you owe. The tax credit can also be added to a refund, if one is due to you. This makes tax credits extremely desirable.
Great news. The U.S. government recently reinstated the 10% Federal Tax Credit for qualifying energy-efficient windows, doors, and skylights. The credit is equal to 10% of the purchase price of your Solatube Products (excluding installation fees), up to a maximum of $200. To find out if rebates or incentives are available in your area, visit:
On Oct. 3, 2008, George W. Bush signed the Emergency Stabilization Act of 2009, which extended the credits available for solar-powered energy systems and expanded the qualifying product requirements. This allows for a 30% tax credit on the purchase and installation of residential photovoltaic equipment, solar water heating, and fuel cell property. Solar Star products fall under the photovoltaic category.
Homeowners are eligible for tax credits for qualified photovoltaic systems purchased and installed between Jan. 1, 2009, and Dec. 31, 2016**.
For solar photovoltaic (PV) systems, the allowable tax credit is 30% of the qualified PV system expenditures, including both product and installation costs. For solar-powered attic fans, both the solar panel portion of the product and the labor costs associated with the installation can qualify for the tax credit.
Many local utilities provide financial incentives for energy-efficient products. To find out if rebates or incentives are available in your area, visit the ENERGY STAR rebate finder at www.energystar.gov. For additional information, please visit your state energy office website for specific state tax information or go to http://www.dsireusa.org/ to view the database of State Incentives for Renewables and Efficiency.
Prior to December 31, 2013, all products with the ENERGY STAR label were eligible for federal tax credits because of their ability to operate efficiently and lower energy bills. After this date, there may be some ENERGY STAR rated products that do not qualify for federal tax credits. To find out for sure, it’s recommended you visit www.irs.gov or consult a tax professional for advice.
*Solatube International and Sola-Brite make no warranty as to the qualification of the products for federal tax credits if there are changes in requirements or applicable law after such date.
Solatube International, Inc. and Sola-Brite are not tax advisors. Taxpayers claiming a tax credit should consult a tax professional with any questions. Solatube International and Sola-Brite are not responsible or liable for the taxpayer’s ability to receive tax credits. This document is not intended to constitute legal or tax advice. More comprehensive information will be made available by the IRS. The user maintains the full and complete responsibility to comply with all codes, laws and regulations applicable to the safe and proper use, handling and installation of the product and should consult with a professional for all construction- and design-related questions. The information contained herein is believed to be accurate as of the time of preparation. However, Solatube International and Sola-Brite make no warranty as to the accuracy of this information.