Residential Solar and Fuel Cell Tax Credit
Last DSIRE Review: 01/08/2008

Incentive Type: Personal Tax Credit

Eligible Renewable/Other Technologies: Solar Water Heat, Photovoltaics, Fuel Cells, Other Solar Electric Technologies

Applicable Sectors: Residential

Amount: 30%

Maximum Incentive: $2,000 for solar-electric systems and solar water-heating systems; $500 per 0.5 kW for fuel cells
Carryover Provisions: Excess credit may be carried forward to succeeding tax year

Eligible System Size: Not specified

Equipment/Installation Requirements: 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 in order for the solar water-heating property expenditures to be eligible.

2007 IRS Form 5695

http://www.irs.gov/pub/irs-pdf/f5695.pdf

I'm not a Tax Wiz so if someone can fill one of these IRS 5695 forms out with basic figures to show us an example, I would highly appreciate it.

Thanks


Fred