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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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We contracted for installation of solar electric on our home

Customer Question

We contracted for installation of solar electric on our home based on the understanding that 30% of its cost would be a tax rebate. We have paid an initial down payment and a second payment per our agreement. Now, our installer says that, due to too few electricians in their employ, they won't be getting to complete our install until a projected date of February 2017. When completed, we will pay the final amount. How / when do we apply for, and get our tax rebate? How much do we get if our total cost is $20,000?
Submitted: 4 months ago.
Category: Tax
Expert:  ABC Accounting Group replied 4 months ago.

Hi.

You can claim 30% of the qualified expenditures of your solar system, including cost of the solar products (panels, inverters, hardware, etc), installation labor and any permitting fees associated with the job. In some cases, you may be able to claim the cost of any re-roofing or electricity work done in conjunction with the solar installation. I would definitely try for a full installation by the end of December. The tax credit could get extended, but I would not wait until 2017,

Expert:  ABC Accounting Group replied 4 months ago.

Let me know if you have any questions.