Solar, Geothermal and other Renewable Heating Systems Qualify for Federal Tax Credits
Qualifying technologies include:
Solar home and water heating.
Solar electric systems.
Geothermal heat pumps.
Residential fuel cell systems.
Small wind systems.
Micro-turbine systems.
Systems must be placed in service prior to December 31, 2016.
Before proceeding homeowners should verify with their contractor or supplier that a system qualifies and that they will be able to supply the documentation required by the Internal Revenue Service (IRS). Consulting with a tax professional is also advisable before buying or signing a contract.
For more:
www.energy.gov
www.IRS.gov
Under the Emergency Economic Stabilization Act of 2008 homeowners installing home heating and water heating systems utilizing renewable energy technology may qualify for a generous 30% federal tax credit. There is no cap on the amount of the available credit.
