I’m thinking of the tax credits for solar panels, energy efficient windows, insulation, etc. Can condominiums and home owners’ associations take advantage of them?
More Pages:
- Solar Products: So Now Obama Wants Another Gov Program, The NOAA Climate Service. Would He Be Wiser To Give Tax Credits To ..? (9/8/2011)
- Solar Products: Can I Deduct The Cost Of Installing A Wood-burning Stove On My Federal Taxes? (8/1/2011)
- Can I contract to buy my neighbor’s federal tax credit from installing solar panels on his roof?
- Solar Turbines: Did You Hear That The White House Is Going To Solar Power? (12/1/2011)
- What are the Florida tax credits you can receive by installing “green” plumbing products?
{ 3 comments… read them below or add one }
Double check with your tax accountant, the last I heard the tax credits expired. Even if they had not, they were aimed at the homeowner, so in theory with the condo association, no the association could not, but the individual condo owner could if I remember the details correctly.
Condos do count:
“The home must be in the United States. It can include a house, houseboat, mobile home, cooperative apartment, condominium, and a manufactured home.”
http://energystar.supportportal.com/ics/support/default.asp?deptID=23018&task=knowledge&questionID=22032
As the other poster said you probably need to be careful about what the owner does vs. what the association does.
The -really- significant tax credits for things like insulation, windows, doors, etc ended at the end of 2010. There are still some available, with a much lower cap, if I read it right:
“10% of cost up to $ 500 or a specific amount from $ 50 – $ 300″
http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
However, the very generous 30% tax credit for solar (PV, hot water, etc), geothermal, and wind is still in effect:
“30% of cost with no upper limit”
http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
Look into all the incentives available to you; you can often add utility rebates and state incentives to federal tax credits and come up with very affordable options. The best database of all these is at http://www.dsireusa.org
There are still federal tax credits available for energy efficiency ($ 500) and solar (30%). You’d need to check with a tax lawyer about if the association can claim them, or just the home owner.
Energy Efficiency http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US43F&re=1&ee=1
Solar http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US37F&re=1&ee=1
Then different states also have some http://www.dsireusa.org/