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What is the Solar Tax Credit?

Posted May 19, 2020 by Treeium Inc.

Treeium customers who purchase a home battery for in-home energy storage are eligible for the federal solar tax credit. An important part of the Energy Policy Act of 2005, the tax credit is equal to 26% of system costs and is encouraging homeowners across the country to turn to renewable energy sources.

Is the Tesla Powerwall eligible for the tax credit? Yes! Tesla energy storage solution is eligible for 26% solar tax credit (formerly the solar investment tax credit). The tax credit was established to increase the renewable energy market in the United States, from San Diego to San Francisco.

How it Works The solar tax credit exists to encourage homeowners across the country to use renewable energy sources to power their homes. The tax credit is granted to the registered owner of the home battery. If you lease a system you do not qualify for the tax credit.

To determine how much your tax credit could be worth, Treeium customers can use the free solar tax credit calculator. All you need is the cost of the home battery system, your taxable income, tax filing status, and installation year.

For residential property owners, a solar tax credit claim can be made using the IRS Form 5595, while commercial property owners will use the IRS Form 3468.

For homes with a home battery install date before January 1, 2020, your tax credit will be 30%, while those installed during the 2020 calendar year will receive a tax credit of 26%. Tax credit amounts for both commercial and residential property owners will decrease each calendar year through 2022.

Where Can I Learn More About Home Battery? For more information on the home battery and the solar tax credit, visit treeium.com/home-battery

Treeium is a Tesla Powerwall Home Battery Certified Dealer & Installer, the best solar battery and smart home energy-storage available to consumers in California.



Posted May 19, 2020
by Treeium Inc..

Treeium

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