Affordable Energy From the Sun
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	Tax Credits and Accelerated Depreciation for Businesses

Tax Credits and Accelerated Depreciation for Businesses

Investment Tax Credit for Solar Energy Property 
The 10% investment tax credit, otherwise known as the business energy tax credit, has been permanently extended as part of the passage of the Energy Policy Act of 1992. This means that the solar energy industry will no longer be burdened with the prospect of a continually expiring and reinstated credit.
(U.S. Code Citation: 26 USC Sec. 48)

Anyone who invests in or purchases qualified solar energy property can take the credit -- up to 10% of the investment or purchase and installation amount -- when income tax forms are filed. Only commercial entities can take the credit. This credit should not be confused with the residential tax credit which permanently expired in 1985. The credit cannot be claimed for property used mainly outside the United States, used by governmental units and foreign persons and entities, or used by a tax-exempt organization (unless the property is used mainly in an unrelated trade or business).
See the SEIA website for complete details and eligibility.

Federal 5-Year Depreciation Schedule for Solar Energy Property
Any commercial entity who invests in or purchases qualified solar energy property may use the accelerated depreciation schedule. The accelerated depreciation schedule cannot be claimed for property used mainly outside the United States, used by governmental units and foreign persons and entities, or used by a tax-exempt organization (unless the property is used mainly in an unrelated trade or business).
See the SEIA website for complete details and eligibility.