Paradise Energy offers valuable resources for your solar journey. 👇 📙 Download your solar buyer's guide (3,500+ downloads): bit.ly/3uwMtsb 💻 Calculate your solar cost and savings: bit.ly/42HK7TV 🔋 Calculate your battery system size and cost: bit.ly/3uGrS4w 🎓 Get answers to all your solar questions: bit.ly/3UMUV1f
I had my new home in 2018 a solar system on a special program , but now this year I fully own the solar system not owing anything. The question is can I add this to claim tax credits for this year tax filling? Can I still claim it ?
The tax credit is claimed the year the system is energized by the owner at that time. What you described wouldn't qualify. Please consult with a tax professional to confirm.
I want to buy the solar equipment today, have it installed next year and not miss the 30% credit. I know I cannot claim the credit until the installation is complete which will be in 2024. Will I be able to claim the 2023 purchase on my 2025 taxes?
When you purchase the equipment doesn’t impact the tax credit. The tax credit must be used the year your system is energized. That would be 2024 based on what you outlined.
@thesolarenergychannel Thanks for the reply. I just don't want the government laughing at me when I try to claim this part or the purchase on my 2025 taxes.
@@L2Survive You're welcome! We always recommend to all our customers to confirm the tax credit details with their accountant before making the investment. This situation would be no different. 👍 Thanks for watching.
Paradise Energy offers valuable resources for your solar journey. 👇
📙 Download your solar buyer's guide (3,500+ downloads): bit.ly/3uwMtsb
💻 Calculate your solar cost and savings: bit.ly/42HK7TV
🔋 Calculate your battery system size and cost: bit.ly/3uGrS4w
🎓 Get answers to all your solar questions: bit.ly/3UMUV1f
Thanks for the update!
You bet!
I had my new home in 2018 a solar system on a special program , but now this year I fully own the solar system not owing anything. The question is can I add this to claim tax credits for this year tax filling? Can I still claim it ?
The tax credit is claimed the year the system is energized by the owner at that time. What you described wouldn't qualify. Please consult with a tax professional to confirm.
I want to buy the solar equipment today, have it installed next year and not miss the 30% credit. I know I cannot claim the credit until the installation is complete which will be in 2024. Will I be able to claim the 2023 purchase on my 2025 taxes?
When you purchase the equipment doesn’t impact the tax credit. The tax credit must be used the year your system is energized. That would be 2024 based on what you outlined.
@thesolarenergychannel Thanks for the reply. I just don't want the government laughing at me when I try to claim this part or the purchase on my 2025 taxes.
@@L2Survive You're welcome! We always recommend to all our customers to confirm the tax credit details with their accountant before making the investment. This situation would be no different. 👍 Thanks for watching.
Any benefit to contractors and installers?
All the tax benefits go to the system owner. The benefit to the installer is it helps sell the system.
Would you care to talk about the module manufacturer? Any inverter manufacturer claiming 40%
At this time no. But they are ramping up production. Hopefully soon.