Tax Credits

Give Yourself a Year-end Gift, a 30% Tax Credit on Your Renewable Energy System you’ve invested in renewable energy this year, be sure to give yourself a tax break by applying for your 30 percent Federal Tax Credit. And of course, it’s still not too late to invest in renewable energy during the 2010 tax year. Wholesale Solar is keeping its doors open through the very last day of the year, Friday, December 31st to accommodate any last minute requests.

The tax credit can be applied to residential solar electric, solar water heaters, wind turbines and geothermal heat pumps systems. There is no cap on your credit amount, and it can be applied to your installation costs, as well. If you installed a system before 1/1/2009, you may still be eligible to receive up to $2,000 in tax credits. Please be sure to check out the details on this website, funded by U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. You can use the IRS Tax Form 5695, now available in draft form. Commercial credits have similar guidelines with varying dates. The IRS tax form for businesses is Form 3468.