<font face="arial" size="4">I recently read on the DSIRE web page that the 30% credit need not be the primary residence.<br><br>Todd<br><br>http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US37F&re=1&ee=1<br><div id="ititle"><div class="l" style="margin-top: 15px;"><img src="http://www.dsireusa.org/images/states/bigflag.jpg" alt="Federal" class="pstate"></div>
<table id="h1print"><tbody><tr>
<td><h1 class="p0">Federal</h1><h3 class="p0"> Incentives/Policies for Renewables & Efficiency</h3></td>
<td id="pr"><a href="http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US37F&re=1&ee=1&printable=1" rel="nofollow"><img src="http://www.dsireusa.org/images/printable_version.jpg" alt="Printable Version"></a></td>
</tr></tbody></table>
</div>
<div class="programnameheader cred ">
Residential Renewable Energy Tax Credit
</div><hr>
<div class="ldr">Last DSIRE Review: 02/18/2010</div>
<div class="ititlered">
Program Overview:
</div>
<table class="tstripe">
<tbody><tr class="">
<td class="c1">State:</td>
<td class="c2">Federal</td>
</tr>
<tr class="alt"><td class="c1">Incentive Type:</td>
<td class="c2">Personal Tax Credit</td>
</tr>
<tr class="">
<td class="c1">Eligible Renewable/Other Technologies:</td>
<td class="c2">Solar Water Heat, Photovoltaics, Wind, Fuel Cells, Geothermal Heat Pumps, Other Solar Electric Technologies</td>
</tr>
<tr class="alt">
<td class="c1">Applicable Sectors:</td>
<td class="c2">Residential</td>
</tr>
<tr><td class="c1">Amount:</td><td class="c2">30%</td></tr>
<tr class="alt"><td class="c1">Maximum Incentive:</td><td class="c2">Solar-electric systems placed in service before 1/1/2009: $2,000<br>
Solar-electric systems placed in service after 12/31/2008: no maximum<br>
Solar water heaters placed in service before 1/1/2009: $2,000<br>
Solar water heaters placed in service after 12/31/2008: no maximum<br>
Wind turbines placed in service in 2008: $4,000<br>
Wind turbines placed in service after 12/31/2008: no maximum<br>
Geothermal heat pumps placed in service in 2008: $2,000<br>
Geothermal heat pumps placed in service after 12/31/2008: no maximum<br>
Fuel cells: $500 per 0.5 kW<br>
</td></tr>
<tr class=""><td class="c1">Eligible System Size:</td><td class="c2">Fuel cells: 0.5 kW minimum<br>
</td></tr>
<tr class="alt"><td class="c1">Equipment Requirements:</td><td class="c2">Solar
water heating property must be certified by SRCC or by comparable
entity endorsed by the state in which the system is installed. At least
half the energy used to heat the dwelling's water must be from solar.
Geothermal heat pumps must meet federal Energy Star requirements. Fuel
cells must have electricity-only generation efficiency greater than 30%.</td></tr>
<tr class=""><td class="c1">Carryover Provisions:</td><td class="c2">Excess credit may be carried forward to succeeding tax year</td></tr>
<tr class="alt"><td class="c1">Program Start Date:</td><td class="c2">1/1/2006</td></tr>
<tr class=""><td class="c1">Program Expiration Date:</td><td class="c2">12/31/2016</td></tr>
<tr class="alt"><td class="c1">Web Site:</td>
<td class="c2">
<a href="http://www.energystar.gov/taxcredits" target="_blank">
http://www.energystar.gov/taxcredits </a>
</td></tr>
</tbody></table>
<table id="auth" class="tstripe">
<tbody><tr class=""><td colspan="2">
<div><div class="c1">Authority 1:</div>
<div class="c2">
<a href="http://www.dsireusa.org/documents/Incentives/US37Fa.htm" target="_blank">26 USC § 25D</a>
</div>
</div>
<div><div class="c1">Date Enacted:</div><div class="c2">8/8/2005 (subsequently amended)</div></div>
<div><div class="c1">Date Effective:</div><div class="c2">1/1/2006</div></div>
<div><div class="c1">Expiration Date</div><div class="c2">12/31/2016</div></div>
</td>
</tr>
<tr class="alt"><td colspan="2">
<div><div class="c1">Authority 2:</div>
<div class="c2">
<a href="http://www.irs.gov/pub/irs-pdf/f5695.pdf" target="_blank" title="Link will open in new window">IRS Form 5695 & Instructions: Residential Energy Credits</a>
</div>
</div>
</td>
</tr>
</tbody></table>
<div class="ititleredsummary">
Summary:
</div>
<i><b>Note: The American Recovery and Reinvestment Act of 2009 does <u>not</u> allow taxpayers eligible for the residential renewable energy tax credit to receive a U.S. Treasury Department <a href="http://www.dsireusa.org/library/includes/incentive2.cfm?Incentive_Code=US53F&State=federal%C2%A4tpageid=1&ee=1&re=1" target="_blank">grant</a> instead of taking this credit.</b></i>
<br>
<br>Established by the federal <i>Energy Policy Act of 2005</i>, the
federal tax credit for residential energy property initially applied to
solar-electric systems, solar water heating systems and fuel cells. <a href="http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.1424.enr:" target="_blank"><i>The Energy Improvement and Extension Act of 2008</i></a>
(H.R. 1424) 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. The credit was further enhanced in February 2009 by <a href="http://thomas.loc.gov/home/h1/Recovery_Bill_Div_B.pdf" target="_blank"><i>The American Recovery and Reinvestment Act of 2009</i></a>
(H.R. 1: Div. B, Sec. 1122, p. 46), which removed the maximum credit
amount for all eligible technologies (except fuel cells) placed in
service after 2008.<br><br>A taxpayer may claim a credit of 30% of
qualified expenditures for a system that serves a dwelling unit located
in the United States and used as a residence by the taxpayer.
Expenditures with respect to the equipment are treated as made when the
installation is completed. If the installation is on a new home, the
"placed in service" date is the date of occupancy by the homeowner.
Expenditures include labor costs for onsite preparation, assembly or
original system installation, and for piping or wiring to interconnect a
system to the home. If the federal tax credit exceeds tax liability,
the excess amount may be carried forward to the succeeding taxable year.
The excess credit can be carried forward until 2016, but it is unclear
whether the unused tax credit can be carried forward after then. The
maximum allowable credit, equipment requirements and other details vary
by technology, as outlined below.<br>
<br>
<br><b>Solar-electric property</b><ul><li>There is no maximum credit
for systems placed in service after 2008. The maximum credit is $2,000
for systems placed in service before January 1, 2009.
<br></li><li>Systems must be placed in service on or after January 1, 2006, and on or before December 31, 2016.
<br style="background-color: rgb(255, 0, 0);"></li><li><span style="background-color: rgb(255, 0, 0);">The home served by the system does </span><i style="background-color: rgb(255, 0, 0);">not</i><span style="background-color: rgb(255, 0, 0);"> have to be the taxpayer’s principal residence.
</span> <br></li><li>Note that the Solar Energy Industries Association (SEIA) has published a <a href="http://seia.org/galleries/pdf/SEIATaxManual_v3-0_FAQ.pdf" target="_blank"> three-page document</a> that provides answers to frequently asked questions regarding the federal tax credits for solar energy.</li></ul><br><br><br><br><br>On Friday, September 17, 2010 8:39am, "Larry Crutcher" <larry@starlightsolar.com> said:<br><br>> Is there a tax credit like the personal credit for your home? Form<br>> 5695 part 1 says the 30% tax credit is for the main home. A customer<br>> has a second home that is leased out. He had a PV solar system<br>> installed at that home in 2010. Is there a 30% tax credit for the<br>> system installed at the leased home?<br>> <br>> Thanks,<br>> Larry<br>> <br>> <br>> _______________________________________________<br>> List sponsored by Home Power magazine<br>> <br>> List Address: RE-wrenches@lists.re-wrenches.org<br>> <br>> Options & settings:<br>> http://lists.re-wrenches.org/options.cgi/re-wrenches-re-wrenches.org<br>> <br>> List-Archive: http://lists.re-wrenches.org/pipermail/re-wrenches-re-wrenches.org<br>> <br>> List rules & etiquette:<br>> www.re-wrenches.org/etiquette.htm<br>> <br>> Check out participant bios:<br>> www.members.re-wrenches.org<br>> <br>> <br></font><br><br><br>Sent from Finest Planet WebMail.<br>