Solar Tax Credit Background
First signed into law in 2008 and 2009, respectfully, the Emergency Stabilization Act (ESA) and the American Recovery and Reinvestment Act (ARRA) allowed homeowners to recoup some of the costs of making their property more energy-efficient and environmentally friendly. The 2022 Inflation Reduction Act renewed and extended the ESA and ARRA as the Residential Clean Energy Credit.
The Residential Clean Energy Credit provides up to 30% of renewable energy product and installation costs via a federal tax credit. Qualifying CO Home Cooling products include Remington and QuietCool solar attic fans and vents, and more!
Save 30% federal tax credit
Save 26% federal tax credit
Save 22% federal tax credit
CHC Eligible Products
Solar Fans & Vents
Though solar fans and vents are not specifically listed, they can qualify under “Residential & Nonbusiness Energy Efficient Property Credit" when purchased and installed on or before December 31, 2022.
• Solar Inverters
• Solar Attic Fans
• Solar Gable Fans
• Solar Power Vents
Getting Your Solar Tax Credit
When the product is installed: Make a copy of your receipts for total amount paid for the qualifying products (including installation costs) and attach your receipts to a completed Federal Tax Credit - Manufacturers Certification Statement (if available). Keep another copy for your records.
When filing your taxes: Fill out IRS Tax form 5695 and submit it with your taxes. Enter the tax credit from form 5695 to your 1040 form.
Keep in mind:
1. IRS Notice 2009-41 suggests the taxpayer is not required to attach this certification statement to their tax return. However, the taxpayer should retain this certification as part of their tax records.
2. As in all tax matters, the taxpayer is advised to consult their tax professional. All manufacturers assume no liability regarding the ability to obtain federal tax credits.