Tax Breaks For Solar Energy Installation In Your Home

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What tax breaks are available for installing solar energy in my home?

Tax Breaks For Solar Energy Installation In Your Home

If you're wondering how installing solar energy in your home can benefit your pocketbook, check out these tax breaks that you could be enjoying. These tax breaks are based on the Energy Tax Incentives of 2005, which offer some hefty tax credits for conscientious homeowners with solar energy installations. These benefits will extend into the year 2008 for homeowners.

Here's a list of items you can write off:

  • 30 percent of solar water heating equipment costs, with a $2000 cap on tax credits per year.
  • 30 percent of costs for solar equipment producing photovoltaic electricity with a $2,000 cap on tax credits per year.
  • 30 percent of costs for a fuel-cell power plant, with a $500 cap on tax credits per year.

   

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