Roof Replacement Solar Panels Tax Credit

Is a roof eligible for the residential energy efficient property tax credit.

Roof replacement solar panels tax credit.

My cpa has solar and is very clear that any roof under the panels that is replaced in preparation for solar is eligible for the 30 tax credit using form 5695. Solar hot water heaters solar electric equipment wind turbines and fuel cell property are examples of equipment eligible for the tax credit. In general traditional roofing materials and structural components do not qualify for the credit. 48 one may reasonably assume that the irs would take a position consistent with letter ruling 201523014 and only permit the incremental costs as defined in regs.

I m planning to install solar panels in 2018 and require a new roof. Some other people asked us since there s a 30 federal tax credit for rooftop solar could this also apply to the roofing job. Turbotaxjulio clearly does not know this information very well. This can help save you money in the long run because you can avoid the costs associated with removing and reinstalling the solar panels on your roof.

However some solar roofing tiles and solar roofing shingles serve as solar electric collectors while also performing the function of traditional roofing serving both. It states that. Uncle sam encourages homeowners to make their homes energy efficient by allowing a 30 residential energy efficient property tax credit for the cost of qualified solar electric property. Panels maybe the following year.

1 48 9 k to be included in calculating the energy credit when adding a new roof and solar panels to the property. The federal solar tax credit also known as the solar investment tax credit or itc is the single most important solar incentive available in the united states. The other benefit of pairing solar and a roof replacement together is that if you re installing on a new roof it s unlikely you ll need to re roof during the lifetime of the system. Can you confirm which advice is correct.

This answer seems to conflict with the same question asked 6 months ago entitled could i claim the 30 federal solar tax credit for portion or all cost related to a re roof if i get new solar panels which says the roof does not apply. The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar. There s no dollar limit on the credit for most types of property although the credit for fuel cells is capped at 500 per half kilowatt of power capacity. The answer is maybe the page explaining the residential renewable energy tax credit does not specifically mention roofs.