Solar Power for Liveaboards

[I33]

I am seeking opinions on the Solar Power tax credit recently extended by the U.S. Congress. What is the general consensus here? If your boat is your home, would you qualify for the tax credit?

[tommays]

From what i have seen here you do it with your electric company and the more complex setups are able to "SELL" excess power back to them


"The law states that the system must relate to a dwelling you use as a residence. It does specify or restrict the type of dwelling. Nor does it specify that it be a primary or permanent residence. Absent rulings to the contrary, primary residences, summer (or winter) homes, recreational cabins, summer camps, boats, motor homes, etc that are used as a residence by the taxpayer should all qualify as dwellings. The credit is attached to the taxpayer, though, so you are limited to a credit for one system."

[xort]

any web links to this solar credit?

[lbdavis]

Originally Posted by xort

any web links to this solar credit?

"the allowable tax credit is 30% of the qualified solar system expenditures up to a maximum tax credit limitation of $2,000."

Found here.

Better than a sharp stick in the eye.

[xort]

Thanks lb

Tom
All I saw was this: Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement

I'm skeptical the IRS would allow these deductions for a boat system. Where did you find your quote " boats, motor homes, etc that are used as a residence by the taxpayer should all qualify as dwellings"

[eryka]

MD has a tax credit also. We bought new solar panels &c at the boat show last year in preparation for cruising beginning 9/09. We'll let you know what our accountant tells us! (our boat is our only home)

[I33]

Originally Posted by lbdavis

"the allowable tax credit is 30% of the qualified solar system expenditures up to a maximum tax credit limitation of $2,000."

Found here.

The same site also says:
Solar Energy Systems

Tax credits are available for qualified solar water heating and photovoltaic systems. The credits are available for systems “placed in service” from January 1, 2006 through December 31, 2016. The tax credit is for 30% of the cost of the system, up to $2,000. After December 31, 2008, this $2,000 cap will be removed for photovoltaic systems (but not solar water heaters). This credit is completely separate from the $500 home improvement credit.

Since it is now after Dec 31 and I am considering a PV system, I do not believe the $2000 cap applies.

[I33]

Here is some more information--this is looking better and better.

"Does A Solar PV System For My Recreational Cabin Qualify?
The law states that the system must relate to a dwelling you use as a residence. It does specify or restrict the type of dwelling. Nor does it specify that it be a primary or permanent residence. Absent rulings to the contrary, primary residences, summer (or winter) homes, recreational cabins, summer camps, boats, motor homes, etc that are used as a residence by the taxpayer should all qualify as dwellings. The credit is attached to the taxpayer, though, so you are limited to a credit for one system."

Full page can be found here:
Solar Power Tax Credits for US Residents | Alternative & Renewable Energy - ABS Alaskan, Inc.