How does the Solar Tax Credit Work?
As of January 1, 2006 an investment tax credit for utilizing solar power went into effect. IRS form 3468 line 2 b allows for a 30% tax credit for investing in solar power. The solar panel and the batteries are all part of the solar system. The retail value for the solar panel is $ 2,700.00 and over $600.00 for the batteries, which equals $3,300.00.Therefore, the tax credit for the Sunray Solar vehicle is approximately $990.00. Other tax credits may apply.
