Good news for homeowners thinking about implementing solar energy systems! The popular residential Solar Federal Tax Credits first enacted in 2009 are continuing through December 31, 2016. While the previous solar tax credit program was capped at $2,000, the current proram allows you to claim up to 30% of solar power costs for a new solar electric system. Existing homes and new construction qualify. Both principal residences and second homes qualify, but rentals do not.
This Solar Federal Tax Credit reduces the amount of tax you owe. The credit is a reduction of total income tax at the bottom of your tax return. This tax credit is a non-refundable tax credit. Consult your tax adviser for details about solar power. Please consult with your tax advisor for specific tax and filing information.
Oak Electric is a NABCEP Certified PV Installer and leader in solar panel sales and installation in Michigan, with installations in communities ranging from Ann Arbor, Dexter, Manchester and Dryden to Brighton, Clarkston, Waterford, Howell, Ortonville and Novi.
If you are considering solar power panels for your home or business, the solar power specialists at Oak Electric Service are happy to answer your questions, including inquiries about financing and tax credits for solar installations. We invite you to visit our website at www.oakelectric.com to learn more about us; or give us a call at (800) 964-7070.