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Solar Tax Credit
Select gate operators qualify for up to 30% tax credit when purchased with solar panels.
The US Federal Government is offering financial incentives to homeowners for the use of solar-powered systems at their home. Homeowners are able to apply for a Federal Tax credit equal to 30% for installations carried out between 2022 and 2032. (Systems installed on or before December 31, 2019, also qualified for the 30% tax credit.) Tax credits for solar PV systems installed in 2020 and 2021 stand at 26%. The credit reduces to 26% for systems installed in 2033 and further decreases to 22% for those installed in 2034. As of 2035, the tax credit is set to expire unless renewed by Congress.
What is Covered: The solar tax credit applies to the total installed cost of the solar gate opener system. This includes the related solar panel, opener, access control device, remote controls, obstruction detection device(s), etc.
What is Not Covered: The cost of the gate itself, or work required to place the physical gate into proper working order (leveling the gate, replacing hinges, etc.).
Qualifications:
- The installation of a solar gate system can qualify for a 30% tax credit on the installed system cost.
- Effective for tax years through December 31, 2023 to 2032.
- The credit for solar electric property and solar water heating property, however, is available for property placed in service through December 31, 2023 to 2032, based on an applicable percentage.
- The applicable percentage is:
- In the case of property placed in service after Dec. 31, 2020, and before Jan. 1, 2022, 26%. In August 2022, Congress passed an extension of the ITC, raising it to 30% for the installation of which was between 2022-2032.
- You will need to use Federal Tax Credit form 5695, Residential Energy Efficiency Property Credit.
- You will need to provide a copy of the 'Manufacturer's Certification for Credit'
- The dwelling must be located in the United States and be used as a residence by the taxpayer.
- This offer is only available in the United States.