Tax Credit Eligibility FAQ

(The following frequently asked questions are an excerpt from SEIA’s Guide to Federal Incentives for Solar Energy version 3.0, released May 21, 2009.)

1. If I receive a rebate for my system from my state or local government, does that reduce the basis on which I can claim the federal 30% ITC?
2. If I receive a rebate for my system from my utility, does that reduce the basis on which I can claim the federal 30% ITC?
3. Can I take the 30% federal grant instead of the 30% tax credit?
4. If I build a new house for sale, can I take the residential credit or the commercial credit?
5. If I don’t have enough tax liability to take the full tax credit in the year my system is installed, can I apply the remainder of the credit to the following years' taxes?
6. What if I have to sell my house, can I still claim the credit?
7. Does the 30% credit cover the cost of installation labor?
8. Is there a standard tax form for claiming the 30% credit?
9. I installed my residential system in 2008. Can I claim the full 30% credit?
10. I received government loans to finance my system, does that affect the credit I can claim?

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