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Discussion Starter #1
Hey All,

So I've been made well aware of the provisions that a sailboat with a sufficient berth, head, & galley can count as a second home. Therefore, the interest for it can be written off come tax time. Now here's a question I have around enhancing boat capabilities.

The greenies on the net have been abuzz about the bailout bill, and the one good provision in it. That being, the 30% tax credit for all alternative, renewable fuel enhancements to ones home. Previously, there was the same 30% credit, but capped at $2000 a year I believe. See here: Solar energy gets huge earmark in bailout bill - Business - MiamiHerald.com

Now, I've already planned for solar array for my home. With state of Florida's credit for a 5000 kW system plus this 30% credit from the government, a system giving 75% of my home usage for the year is effectively free (after tax rebates).

How can we as a community take advantage of this for our sailboats? If they count as second homes, what about all the money we spend on solar panels and inverters, charge regulators, etc? First, can we get 30% tax credit on those?

Things that make you go hmm....

Any tax attorneys in the house?
 

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You probably CAN'T take advantage, since you own a boat. That means you're one of the "wealthy" so they will need to have your information so they can tax the hell out of you :)
 

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Plus it is not your primary residence.
I wouldn't say THAT is true. Of course, it depends on the state too though.

If you have more than one home and you put in stuff into it you still should be able to get a "tax credit" (At least last time I checked we could in Colorado).
 

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Well, not arguing that point at all. Just that it depends on the state only. All states are different in their laws and their interpretation.
 

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Discussion Starter #7
but the credits (30%) are national credits on your federal taxes...right?
 

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Discussion Starter #10
What about other solar equipment needed for a solar system. The arch to hold panels, batteries, inverter/charge regulator...etc? Those are usually much more expensive than the panels themselves
 

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tax deuction only works if you are rich

For a tax deduction to significantly reduce your taxes, you have to be paying a significant amount of tax....ie making a significant amount of money. I don't even make enough money to pay much of anything in taxes. I the money I will be savign by adding wind and solar is a lot more than I could save in taxes
 

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baDumbumbum
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Incentives, federal and by state. Not detailed; you will have to contact the listed agencies for the fine print.


DSIRE: DSIRE Home

Renewable Energy Maps and Incentive Sheets | RE-Powering America's Land: Renewable Energy on Contaminated Land and Mining Sites | US EPA

You may need to supply pro-forma documentation and photographic evidence of your installation. I received $3k cash from the State of Wyoming toward my residential solar PV. Money came from fines levied on gas and oil operation for environmental violations.:D
 

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Every day, Something new
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I live aboard my boat, I don't have a house (I don't see how that makes me a rich jerk?). In 2007 I successfully (and legitimately) claimed a federal tax credit for my solar panel installation. This turned what would have been tax owed, to a rebate - Yea!

I understand that for 2009 wind generators are now also include and you can get a tax credit for 30%, but you'll have to read the small print, it may only be valid if this is your PRIMARY residence.

The credit is for 30% of the full thing (system + installation costs). There may be a cap but this certainly didn't impact us on Footprint in 2007.
 

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Mark on Camper 58
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This is really interesting. We are outfitting our vessel for eventual live-on as a primary residence. I have been replacing all lights with current regulated LEDs. The plans also include wind and solar with the goal to not be raliant on the generator or engine. We also will need to replace the engine driven refrig-freezer compressor with the new generation low power DC units. What about the new lower power consumption water-makers? How much of this can be claimed? What do I have to do to make it happen?

Here is a stretch - what about claiming new sails as energy saving devices?
 
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