SAVE 26% THIS YEAR: SOLAR TAX CREDIT EXPLAINED!

[@epicelements5528]

Thanks so much for making this video. So glad I purchased mine before the tax credit is gone!

[@TinyWattsSolar]

Yes you got in at a good time! :)

[@LilyWasHereMB]

Wes! .... WES!! This little 3 minute video just cut my taxes by a minimum of $2,262 (solar system only) and perhaps as much as $6,474 (Rixen Hyrdronic Heating + & Cruise N Comfort 24v AC + water storage + solar). thank you, Thank You THANK YOU!!

[@LilyWasHereMB]

Wes, I want to thank you again. CPA finished federal return today and I'm getting a $5,400 refund. The solar tax credit, which learned about from you, was $6,400. So if my math is correct, if you had not posted your video about the solar tax credit, I'd be writing the IRS a check for $1,000. So where is that refund going to go? Well, ironically, a good portion of it will be spent on diesel.

[@TinyWattsSolar]

That is great to hear! Happy for you!

[@Brandon-ik6ty]

THIS NO LONGER APPLIES!! The tax credit is now only applicable for your main home, and the form asks for an address. Bummer!

[@TinyWattsSolar]

It still applies. Here's a great link explaining the tax credit by a tax professional. tax-queen.com/residential-energy-efficient-solar-tax-credit/

[@bjbhehir]

The link also says the RV needs to be your main home.

[@VictorWinPerspective]

Thanks! Quick question! Is the rollover from the 5695 tax form good for 4 years in total? Or did you mean after you fill it out (5 years total)?

[@GreaseMonkChronicles]

What if I get a refund, every solar salesperson says talk to the cpa. Do I still get a credit?

[@nevermined2233]

I read that the ITC tax credit has a requirement that the battery has to be 100% charged by solar only. This means no grid charging allowed? So I can't charge my batteries late at night to top them off when rates are cheapest. This way they're full and ready for next day's use.

[@Miguel-sl2hv]

where did you read that?

[@alejandroblanco4315]

Ok how about if you installed in 2020 which is 26% you either use or not some of the credit in the taxes but when 2021 and 2022 comes and you still haven’t use the credit do you only get 22% in 2021 and 0% in 2022 or you will continue to get the remaining of what you left off purchase date.

[@Miguel-sl2hv]

as long as you have your system on before jan 1 2021, you should still be able to claim 26%

[@Brandon-ik6ty]

@@Miguel-sl2hv only on main home with a permanent address

[@HuangXingQing]

Is there still time to do the deal and get the credit this year? What if your van IS you only home, do you still get the credit?

[@Brandon-ik6ty]

It's no longer applicable to mobile homes, unfortunately. Only main home with a permanent address

[@divjas1747]

Thank you so much for making this video. If the system is installed in 2020 but the inspection, utility approval and power on is done in Jan 2021. Can the tax credit still be claimed for year 2020?

[@Brandon-ik6ty]

No longer available unfortunately

[@Tony-et5ih]

YEEW!

[@bonniecavanaughsvcontent3565]

Does this count for a system I paid for last year?

[@TinyWattsSolar]

I would talk to your CPA, you may be able to claim it even though it was purchased last year.

[@bonniecavanaughsvcontent3565]

@@TinyWattsSolar I wish I had a cpa

[@Brandon-ik6ty]

This doesn't look possible any more, unfortunately

[@bonniecavanaughsvcontent3565]

@@TinyWattsSolar who the hell can afford a CPA for christ sake? If I could afford CPA I would be living in a bloody mansion, not an old sailboat...

[@Trang-xq9fn]

Do you know of people who have gotten the solar tax credit for the costs of the solar generator batteries used with the solar panels... like the Goal Zero Yetti, Inergy Kodiak and Bluetti AC200p?

[@solargod3671]

It’s the total cost of the entire project ; meaning batteries , solar panels , and other materials like roof needed to go solar that contributes towards solar total cost .

[@Trang-xq9fn]

@@solargod3671 Yes I know that it is all costs related to the solar system. For me, I only have the Goal Zero Yetti 1000 and Inergy Kodiak purchsed in 2017. The batteries alone wpuld not qualify. I needed to also buy solar panels to meet the solar requirement.

[@solargod3671]

Correct your portal Yetto battery wont qualify . If you need a quote for solar let me know If that’s what you saying .

[@Trang-xq9fn]

@@solargod3671 However, it seems that so long as I have solar panels to connect to a portable battery, I have a solar power system. Then I quality. Currently, I don't need more solar panels.

[@Brandon-ik6ty]

No more tax credit except on your main home with a permanent address