Federal Residential Renewable Energy Tax Credit. Established by The Energy Policy Act of 2005, the federal tax credit for residential energy property initially applied to solar-electric systems, solar water heating systems and fuel cells.
The Energy Improvement and Extension Act of 2008 extended the tax credit to small wind-energy systems and geothermal heat pumps, effective January 1, 2008. Other key revisions included an eight-year extension of the credit to December 31, 2016; the ability to take the credit against the alternative minimum tax; and the removal of the $2,000 credit limit for solar-electric systems beginning in 2009.
Federal Tax Credit for Solar Energy. Updated for Tax Year 2016 To encourage Americans to use solar power, the EPA and the Department of Energy offers tax credits for solar-powered systems.
Tapping the sun for power just feels good -- solar power doesn't pollute, reduces our use of coal and other fossil fuels, and thereby helps reduce your individual carbon footprint. But it's also be up to five times as expensive as electricity from natural gas and other sources. To encourage Americans to use solar power, the Environmental Protection Agency and the Department of Energy run the Energy Star program, which, among other projects, offers tax credits for solar-powered systems. Credits for approved solar installations. Incentives/Policies by State: Wisconsin : Incentives/Policies for Renewable Energy.
Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies.
It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.