Solar “Photovoltaic” Systems are a New Product for us. We are working with some local companies on systems, these systems are not just for large corporations. We can all do our part and solar power is a good alternative, especially here in Texas, where we have an abundance of sun. We are eager to dive into Solar Power Installation.
Solar Water Heaters
Solar water heaters come in a wide variety of designs, all including a collector and storage tank, and all using the sun’s thermal energy to heat water. Solar water heaters are typically described according to the type of collector and the circulation system.
Is there a tax credit for water heaters?
The tax credit for Solar Water Heaters is in effect through 2016.The tax credit for the following water heaters is effective through December 31, 2013.
Gas, Oil, and Propane Water Heaters (including tankless)
Electric Heat Pump Water Heaters
At least half of the energy generated by the “qualifying property” must come from the sun. The system must be certified by the Solar Rating and Certification Corporation (SRCC) or a comparable entity endorsed by the government of the state in which the property is installed.
Note: The credit is not available for expenses for swimming pools or hot tubs. The water must be used in the dwelling.
Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement.
Tax Credit includes installation costs.