Solar has never been more affordable, thanks to a combination of both Federal and Louisiana State Solar Tax Credits.
The Louisiana Solar Tax Credit applies to solar and wind energy systems including photovoltaics (Solar Electric), wind power, and Solar Thermal systems (Solar Hot Water). The credit is good for 50% of the installed cost of the system and can be claimed for multiple systems until 100% of the home’s energy needs are addressed. Commercial owners of apartment buildings may claim the credit as well. The best part? The credit is refundable so if your tax burden is less than the value of the tax credit, you get a refund!
South Coast Solar, at its own expense, contracted with the prestigious Adams and Reese law firm’s tax division to conduct a Private Letter Ruling on behalf of one of our clients to confirm the multi-system language as prescribed by the Louisiana Department of Revenue’s rules interpreting the law. This added service provides peace of mind to our clients and demonstrates SCS’s commitment to the adoption of solar energy for the citizens of Louisiana.
The Federal Solar Tax Credit applies to solar electric and domestic water heating systems and is good for 30% of the cost of the system. Thanks to the $2,000 cap being lifted for solar electric systems (PV) and solar thermal (domestic hot water), the Federal Government will now pay a full 30% of your solar system and installation. That means, in Louisiana, 30% will be paid for by the Federal Government, and 50% by our State. That’s 80% paid for via tax credits, and very close to the highest percentage anywhere in the US!!! According to the IRS, the federal credit may be claimed over multiple years if necessary.
For more information on Solar and Energy Efficiency tax credits visit the Database of State Incentives for Renewable Energy.
All Louisiana taxpayers qualify, so contact your tax advisor or CPA to find out just how easy it is to go solar today.