What is the Emergency Stabilization Act of 2009?
On Oct. 3, 2008, George W. Bush signed the Emergency Stabilization Act of 2009, which extended the credits available for solar-powered energy systems and expanded the qualifying product requirements. This allows for a tax credit on the purchase and installation of residential photovoltaic equipment, solar water heating, and fuel cell property. Solar Star products fall under the photovoltaic category.
What Solar Star products are eligible for the federal tax credit?
The solar panel portion of all Solar Star Fans, both roof, and interior mount models qualify for the category “solar energy systems: photovoltaic systems” as defined below:
“Property that uses solar energy to generate electricity for the residence and must meet applicable fire and electrical code requirements.”
There are no specific technical requirements for photovoltaic systems. But all installed Solar Star Fans must meet applicable fire and electrical code requirements to qualify.
What are the tax incentives for Solar Star Fans?
Homeowners are eligible for tax credits for qualified photovoltaic systems purchased and installed between Jan. 1, 2009, and Dec. 31, 2022*.
For solar photovoltaic (PV) systems, the allowable tax credit is available for the qualified PV system expenditures, including both product and installation costs. For solar-powered fans, both the solar panel portion of the product and the labor costs associated with the installation can qualify for the tax credit.
Is there a cap on the tax credit?
There is no credit cap for residential photovoltaic systems placed into service after December 31, 2008 and before December 31, 2022.
Do Solar Star products installed in my second home or rental property qualify?
Existing homes and new construction qualify. Both primary and secondary homes qualify. Rentals do not qualify.
Are the Solar Star DIY kits eligible?
Yes, Solar Star Fan DIY Kits – both roof and interior mount kits – are eligible as long as they meet the qualifying criteria and all applicable fire and electrical code requirements.
Are Solar Star products eligible even though they aren’t ENERGY STAR® rated?
An ENERGY STAR rating is not required for the photovoltaic system tax credit eligibility program.