Adding Solar to a Buy and Hold

[Brian Davis]

I am told that there is a 26% tax credit with a new solar project along with the ability to depreciate 87% of the cost of the system in the 1st year. Is anyone out there doing this?  

[Joshua Dickman]

@Brian 

@Brian Davis Yes, you are on to something. 

As long as you have the tax liability you can potentially receive the full 26% on next year's filing, but you may have to claim it over multiple years depending on your situation. Thus, I advise all my clients to allocate some extra funds towards the month 18 re-amortization because you are not guaranteed to get the full 26% at year one. Definitely consult with your CPA. Beyond that, there is a MACRS depreciation on the table and is once again available depending on your situation. 

I have been in solar 5 years and work with SunPower. They are the oldest solar company in America (Est 1986) and hold over 500 patents, including the most efficient panels on the market which are also used by NASA.We have an inhouse CPA firm that specializes in the solar tax code and works with your CPA to help you claim the 26% ITC and 87% depreciation because most CPAs do not specialize in solar. 

Happy to help in any way I can. 

Solar is the future and the time is now.

Cheers.

Joshua