Want solar panels for great renewable, sustainable energy? Here's your guide. You can choose Photovoltaic panels that generate electricity or Solar Thermal panels hot water.
There is no maximum credit for systems placed in service after 2008. The maximum credit is $2,000 for systems placed in service before January 1, 2009.
Systems must be placed in service on or after January 1, 2006, and on or before December 31, 2016.
Equipment must be certified for performance by the Solar Rating Certification Corporation (SRCC) or a comparable entity endorsed by the government of the state in which the property 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.
The tax credit does not apply to solar water-heating property for swimming pools or hot tubs.
The home served by the system does not have to be the taxpayer’s principal residence.