If you install Wind or Solar can you get a tax credit? - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > On Board > Gear & Maintenance
 Not a Member? 
  #1  
Old 01-08-2010
Senior Member
 
Join Date: Dec 2002
Posts: 118
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 12
chuck711 is on a distinguished road
If you install Wind or Solar can you get a tax credit?

Wondered if you install Wind or Solar can you get a tax credit?

Federal Tax Credits Extended through 2017
The Emergency Economic Stabilization Act of 2008, which was signed into law on October 1, 2008, contains renewable energy legislation which is great news for our solar customers. Not only was the 30% commercial solar investment tax credit extended through 2017, but the same tax credit was also extended to residential installations. Under this new legislation the previous $2,000 cap for residential solar installations is eliminated. This means that, as of January 1, 2009, the purchase of a residential solar electric system makes you eligibile for a tax credit equal to 30% of the cost of your solar system, including installation.


Small Wind Systems Also Eligible for Tax Credit
The Emergency Economic Stabilization Act of 2008 includes a federal-level investment tax credit to help consumers purchase small wind turbines for home, farm, or business use. Owners of small wind systems with 100 kilowatts (kW) of capacity and less can receive a credit for 30% of the total installed cost of the system, not to exceed $4,000. The credit will be available for equipment installed through December 31, 2016. For turbines used for homes, the credit is limited to $4,000 or $1,000 per kW of capacity (whichever is less



"CLARIFICATION OF HOMES THAT QUALIFY – there will probably more regulations coming out on this issue. Right now the law says the dwelling must be located in the United States and used by you as a residence. If you use a vacation home, then it is felt that the vacation rental rules apply as to whether the home will be considered a residence or not. A vacation home is considered a residence if your personal use exceeds 14 days or 10% of the days rented at a fair rental price.
In addition, motor homes in which you stay overnight, homes that may have a mother-in-law apartment in which a relative lives for free, a live-aboard (even part time) boat, mobile home etc all qualify. It must contain a sleeping space, toilet and cooking facilities."
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Wind Orientation Mark Matthews Learning to Sail Articles 0 03-06-2005 07:00 PM
Understanding Apparent Wind Steve Colgate Learning to Sail Articles 0 11-10-2002 07:00 PM
Understanding Apparent Wind Steve Colgate Seamanship Articles 0 11-10-2002 07:00 PM
Understanding Apparent Wind Steve Colgate Racing Articles 0 11-10-2002 07:00 PM
Choosing and Installing Solar Panels Sue & Larry Gear and Maintenance Articles 0 11-06-2000 07:00 PM


All times are GMT -4. The time now is 11:57 AM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.