Solar Tax Credit

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SeaBreeze

SeaBreeze

Senior Member
Joined
Aug 16, 2018
Messages
169
Location
USA
Vessel Name
SeaShell
Vessel Make
1974 Marine Trader 34 Sedan
I’m curious how many on here have taken advantage of the 30% solar tax credit which begins to reduce after 2019? Since I just added a new battery bank I am thinking of adding solar and taking advantage of the credit.
 
Not sure that the credit applies to boats?

David
 
Primary and secondary homes from what I could find.



A little googling and a lot of submitters think it does.


Of course that doesn't mean the IRS allows it exery time.


I am going to try it this year...I think I read you can even go back 5 years....but I didn't read the details yet.
 
Previous owner of our boat took advantage of that when installing the 1400W of solar and 1600Ah battery bank that we have ;)
 
I have read that you can claim the credit for RV's and Boats. Boats must have a kitchen and bath to qualify as a second home. You are allowed to claim the 30% credit for solar panels, batteries, wiring, equipment, and installation. 2019 is the last tax year that you can claim the full 30% credit. Here are links to 2 articles on claiming the credit:
https://www.coastalclimatecontrol.com/index.php/blog/121-solar-tax-credit-and-your-boat.html


https://tax-queen.com/residential-energy-efficient-property-tax-credits-solar/amp/
 
SeaBreeze said:
Since I just added a new battery bank I am thinking of adding solar and taking advantage of the credit.
Click to expand...


Solar worked very well for me until transited the Panama Canal from the Pacific, where the cloud cover was much less. Immediately added an inexpensive wind generator, which worked great & provided most power from then on. However, since that time I think solar may be more efficient. However, we still get a lot of cloud cover here in the East.
 
There are zones/areas that favor one or the other...both are great but for many in N America, Solar still is the winner
 
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The hassle I have found is sometimes for tax credits the installation must be pro installed which can triple the bill.
 
No pro required, the IRS form just ask the $$$ spent,


I did my home a few years back then a year later my RV (sold that), this year two 265w panels, 8 batteries, solar controller, inverter and all the cables. :thumb:



About 4K
 
I haven't really kept up with this but didn't the latest tax changes rule out certain itemized deductions after an income threshold?

Has that impacted listing boats as a second home at all, and the solar credit?
 
menzies said:
I haven't really kept up with this but didn't the latest tax changes rule out certain itemized deductions after an income threshold?

Has that impacted listing boats as a second home at all, and the solar credit?
Click to expand...


The only thing I know for sure is that you can still write off the interest on a loan for a second home. I am doing that for my boat loan. However, I believe you can only write off the interest on up to $750,000 for a home mortgage, whether that is for one or two homes combined.
 
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