cracovian
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Using Fed credit more than once?

Fri Sep 19, 2014 8:43 am

I'm planning to install 10 panels or so this year (claim 30% for 2014) and then follow it up with additional 10 or more next year (all hooked up together to the same system.) Can I claim another 30% from the cost of expansion in 2015?
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KillaWhat
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Re: Using Fed credit more than once?

Fri Sep 19, 2014 9:49 am

I am planning a similar project in 2 parts.
Would like to get 1 row of panels installed before winter, but will have to wait to spring for the second row.
I had the same question about claiming the credit.

Additional wrinkle.
I need to cut down a huge tree that is partly shading the area of the panels.
30% off? Seriously, it's part of the project, right?
Any thoughts?
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Slow1
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Re: Using Fed credit more than once?

Fri Sep 19, 2014 10:09 am

1) I do believe you can claim the 30% on two PV installs - I don't know that "expanding" one vs installing a second one is even an issue. As of current tax law, the 30% doesn't have a limit/cap so go for it. Just know that the rules can change with little to no warning... I just did a solar hot water install and will be claiming 30% for that one - may expand the PV array next year if prices keep on falling. Now that I'm charging the Leaf my array isn't enough to cover it all... go figure eh?

2) Tree cutting - advice I received indicated it could not be claimed as part of the solar install. I'm sure that if you got creative you could get the solar installation company to include it in the cost and not line-item the expense, but that would be contrary to the spirit of the law and just might cause serious issues for both you and the installer if an audit somehow picked up on it.
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QueenBee
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Re: Using Fed credit more than once?

Fri Sep 19, 2014 8:40 pm

There is no problem claiming the credit multiple times. I've done it twice now and will do it a third time this year for my three phases.

As for tree cutting as part of the cost. IMO this would fall under the spirit of the credit if you were cutting down the trees solely to unshade the new system. Just like if you needed a new service to support the solar PV; people are including that in the cost. Obviously ask your accountant but I think this expense is perfectly acceptable as a cost of solar PV and IMO the worst that happens is you get audited, they look at your receipts and decide that is not a cost of the PV install and you owe the money.

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EVDRIVER
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Re: Using Fed credit more than once?

Sat Sep 20, 2014 9:21 am

Wish I included a new roof in my install since that can be an element of the installation. Perhaps I'll add some panels and do that:) The credit will likely was the cost of the panels.

smkettner
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Re: Using Fed credit more than once?

Sat Sep 20, 2014 10:24 am

If you spend the money you get the deduction. There is no once in a lifetime clause.
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JimSouCal
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Re: Using Fed credit more than once?

Sat Sep 20, 2014 11:17 pm

EVDRIVER wrote:Wish I included a new roof in my install since that can be an element of the installation. Perhaps I'll add some panels and do that:) The credit will likely was the cost of the panels.
Seems a bit of a stretch at audit time, but what would I know? I know a guy who put in a geothermal system that used his pool as a heat dump, and wrote off the pool.

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GeekEV
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Re: Using Fed credit more than once?

Sun Sep 21, 2014 9:11 am

I've done a two part install and claimed the tax credit in two parts as well. No issues so far.

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sub3marathonman
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Re: Using Fed credit more than once?

Wed Oct 01, 2014 1:19 pm

I don't know how many are using battery based PV, but one technicality is that you've got to recharge the batteries from the PV and not the grid (for those grid tied).

Here's one article about it:
http://www.renewableenergyworld.com/rea ... imitations

The IRS version (page 4, 1.48-9 (d) (6)):
http://www.irs.gov/pub/irs-wd/1308005.pdf

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