[RE-wrenches] Tax Credit for New Construction?

[Dana]

I have several clients who have taken the 30% FTC for off grid systems and
even for battery replacement, & upgrades with no issue. As we have upgraded
[expanded] our gird tie & SHW systems we have taken additional write offs
and not had any issue with the 30%FTC. We have been careful to document the
original VS the additional equipment & labor. Also we have not tried to
write off the house as a mounting structure.

Dana Orzel

Great Solar Works, Inc
E - dana at solarwork.com
V - 970.626.5253
F - 970.626.4140
C - 970.209.4076
web - www.solarwork.com

"Responsible Technologies for Responsible People since 1988"


-----Original Message-----
From: re-wrenches-bounces at lists.re-wrenches.org
[mailto:re-wrenches-bounces at lists.re-wrenches.org] On Behalf Of Dave Click
Sent: Wednesday, February 08, 2012 9:15 AM
To: RE-wrenches
Subject: Re: [RE-wrenches] Tax Credit for New Construction?

The credit still applies. Some things to note are that the "placed in
service" date is when your customer actually moved in. So if he waited
until the new year to move for property tax reasons (?) he can't claim
the 30% credit until the 2012 tax year. Also, the credit only applies to
new equipment (just so you can't move your system from one house to the
next and claim 30% each year, I guess). Finally, you can't do something
crazy like claim the $1.5M house is the mounting structure for the 5kW
PV system and get a $460k rebate from the IRS.

Note that I'm basing this off the SEIA tax credit guide v1.2 from 2006
(back when it was publicly available), so your mileage may vary.

Not actually a tax expert,
Dave

On 2012/2/7 16:31, Ray Walters wrote:
> Hi All;
>
> I just had a customer ask if he could take the federal solar credit for
> his PV system on his newly built off grid home.
> I always thought you could, but the wording on the IRS form sounded a
> bit like you couldn't take it for new construction.
> What's the group's opinion on this?
>
> Ray Walters
>
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