Claiming Your 30% Federal Tax Credit
What is it
The US government provides an unlimited 30% tax credit for solar pv systems you install until 12/31/2016. This includes all equipment, materials and labor used to install the system but not unrelated expenses, such as installing a new roof first.
How it works
This is counted against any taxes you owe on your annual income tax return filed April 15th. If you owe less than the tax credit you can carry the credit forward as many as 5 years.
This credit can be claimed as many times as you install solar components.
How to Claim it
Simply include the IRS form for Energy Tax Credits (Form 5695) in your return.
You should always consult with your tax accountant for details.