2012 Federal Tax Credits & Solar Energy Efficiency Incentives
- Solar Federal Tax Credit is 30% of the entire amount spent on the system
- Deductions of $0.60 per square foot are available to owners of commercial buildings in which individual lighting, building envelope, or heating and cooling systems meet target levels that would reasonably contribute to an overall building savings of 50% if additional systems were installed. The subsystem targets are 20% interior lighting, 20% HVAC & hot water, and 10% building envelope.
- Bonus/Accelerated Depreciation: 50% in 2012
State Tax Credits & Solar Energy Efficiency Incentives
- Additional Incentives may be available. Check with your utility provider and/or tax professional for more details.
The above information regarding taxes, tax credits and depreciation is meant to make you aware of these benefits, risks and potential expenses. It is not tax advice. Please seek professional advice from a qualified tax advisor to check the applicability and eligibility before claiming any tax benefits or exemptions.