Taking advantage of the federal tax credit is one of the greatest benefits to owning solar. The Federal tax credit amount is based on the system cost to which 30% you can claim at the end of the year. We advise our clients speak with a qualified tax advisor to verify eligibility before claiming the tax credit.
The federal tax credit is a one-time credit, and given as a lump sum. It’s due to expire on December 16th, 2016. Your Accountant can fill out IRS Form 5695, you will need your signed contract and your utility company’s letter granted your permission to operate.