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Tax Credit on Solatubes Tubular Skylights Tax Credit 2009 and 2010
Solatube Brighten Up® Series; 160 DSe and 290 DSe Daylighting Systems Only
Skylights Federal Tax Credit
Energy Efficient Tax Credit on Solatubes Tubular Skylights can save you up to 30% - maximum of $1500.00 on your taxes in addition
to year-round savings on your energy bill.
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On February 17, 2009, President Obama signed a stimulus bill
(The American Recovery and Reinvestment Act of 2009) that made some significant changes to
the energy efficiency tax credits.
The federal tax credit for Small Wind Energy Systems must be placed in service by December 31, 2016
and is to a $1,500.00 Tax Credit Cap.
To qualify for the tax credit, windows, doors, and skylights placed in service after
February 17, 2009 must have a U-factor and Solar Heat Gain Coefficient (SHGC) less
than or equal to 0.30.
Improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) —
use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010.
Improvements made in 2010 will be claimed on your 2010 taxes (filed by April 15, 2011) —
use IRS Tax Form 5695.
For more information on the bill, check out the
U.S. Department of Energy website.
What is a tax credit?
A Solatubes Tubular Skylight Credit is not received when you buy the product, like an instant
rebate. A Tax Credit is claimed on your federal income tax form at the
end of the year. The credit then increases the tax refund you receive or decreases the amount
paid in.
Tax credits vs. tax deductions.
In general, a tax credit is more valuable than a similar tax deduction. A tax credit reduces
the tax you pay, dollar-for-dollar. Tax deductions – such as those for home mortgages
and charitable giving, for example – lower your taxable income.
If you are in the 30 percent tax bracket, your income tax is reduced by
30 percent of the value of a tax deduction. But a tax credit reduces your
federal income tax by 100 percent of the amount of the credit.
For more information on Federal Tax Credits for Energy Efficiency,
click here.
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Solatubes Tubular Skylights:
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