When is the ITC effective for residential solar energy efficiency property?
The extension of the ITC for residential solar energy efficiency property is effective on the date of enactment, October 3, 2008. Since the existing section 25D credit was not scheduled to expire until December 31, 2008, this means that the credit has been seamlessly extended through 12/31/2016. 5. What property qualifies for the section 25D residential ITC? Answer: The credit applies to “qualified solar water heating property,” (defined as “property to heat water for use in a dwelling unit located in the U.S. and used as a residence by the taxpayer if at least half of the energy used by such property is derived from the sun), and to “qualified solar electric property” (defined as property which uses solar energy to generate electricity for use in a dwelling unit located in the U.S. and used as a residence by the taxpayer). 6. Does the elimination of the $2,000 cap on the section 25D residential credit apply to solar thermal property? Answer: No. The elimination of the $2,000 cap appli
