Roof Replacement Solar Panels Tax Credit

My cpa has solar and is very clear that any roof under the panels that is replaced in preparation for solar is eligible for the 30 tax credit using form 5695.

Roof replacement solar panels tax credit.

Uncle sam encourages homeowners to make their homes energy efficient by allowing a 30 residential energy efficient property tax credit for the cost of qualified solar electric property. For commercial solar energy under sec. Solar hot water heaters solar electric equipment wind turbines and fuel cell property are examples of equipment eligible for the tax credit. In general traditional roofing materials and structural components do not qualify for the credit.

However some solar roofing tiles and solar roofing shingles serve as solar electric collectors while also performing the function of traditional roofing serving both. The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar. It states that. Taxguybill is confusing the solar tax credit with a roofing tax credit that expired after 2014 for energy star shingles.

Is a roof eligible for the residential energy efficient property tax credit. If you install solar panels before the end of 2020 you will receive a tax credit that is equal to 26 percent of the cost of your solar installation. The other benefit of pairing solar and a roof replacement together is that if you re installing on a new roof it s unlikely you ll need to re roof during the lifetime of the system. This answer seems to conflict with the same question asked 6 months ago entitled could i claim the 30 federal solar tax credit for portion or all cost related to a re roof if i get new solar panels which says the roof does not apply.

Can you confirm which advice is correct. The federal solar tax credit also known as the solar investment tax credit or itc is the single most important solar incentive available in the united states. Panels maybe the following year. Turbotaxjulio clearly does not know this information very well.

This can help save you money in the long run because you can avoid the costs associated with removing and reinstalling the solar panels on your roof. I m planning to install solar panels in 2018 and require a new roof. 48 one may reasonably assume that the irs would take a position consistent with letter ruling 201523014 and only permit the incremental costs as defined in regs. The answer is maybe the page explaining the residential renewable energy tax credit does not specifically mention roofs.