Solar/Energy Tax Credit
Same Great Skylights. Way More Savings.
Did you know that the Sun provides us with more energy in a single hour than the entire world uses in a year? So, why depend on energy from anywhere else? If you’re already considering incorporating skylights into your home, it makes perfect sense to Go Solar and save big – both on your home’s energy efficiency and in your pocket.
Why Go Solar?
VELUX designed the Go Solar Initiative by bundling our products that reduce energy consumption and actively fine-tune your home’s climate in order to bring you more savings for taking a step in a greener direction.
When you Go Solar by purchasing a solar-powered skylight or adding solar blinds to a fixed or manual skylight, your entire purchase and installation become a solar system that’s eligible for a 26% federal tax credit. And by exchanging artificial light for natural light and, in some cases, HVAC for fresh air, you’re well on your way to reducing your dependency on electricity.
Taking part in the Go Solar Initiative is a way to improve your household’s energy efficiency, create a bright, spacious atmosphere, and save money all at once! So, isn’t time you Go Solar?
Tax Credit History
In 2008, then President George W. Bush signed the Emergency Stabilization Act into law. In 2009, then President Barack Obama followed suit, signing into law the American Recovery and Reinvestment Act of 2009 (ARRA). Together, these two laws provide a 30% federal tax credit on both the purchase an installation of qualifying products in renewable technologies. Technologies like solar electric property, residential solar water heating, qualified small wind energy, and qualified geothermal heat pump energy, among others, are all eligible for this tax credit when purchased and installed between January 1, 2009 through December 31, 2021.
|2009-2019||Save 30% federal tax credit|
|2020-2022||Save 26% federal tax credit|
|2023||Save 22% federal tax credit|
The Logical Choice: How Go Solar Works
In order to Go Solar with VELUX, you’ll first need to purchase and install any of the eligible products listed below before December 31, 2021. And to receive the federal tax credit for doing so, there are a few things you’ll need to do. First, when the product is installed, keep your receipts for the total price paid (product and installation) and attach them to a completed Manufacturers Certification Statement to keep for your records. Then, when tax time rolls around, fill out the IRS Residential Energy Efficient Property Tax Credit Form 5695, enter the tax credit calculated on your IRS Form 1040, and submit everything with your taxes. Keep in mind that this tax credit is a direct debit of the taxpayer's total tax liability. For more information, visit veluxusa.com/taxcredit.
All VELUX’s solar-powered products are eligible for a 26% federal tax credit* on product and installation under the ESA and ARRA as “Solar Electric Property” expenditures. These products include:
- VELUX Solar Powered “Fresh Air” Skylights
- VELUX Manual "Fresh Air" Skylights with factory-installed solar-powered blinds
- VELUX Fixed Skylights with factory-installed solar-powered blinds
- VELUX Residential Rigid Sun Tunnels with Solar Night Lights
- VELUX Solar Powered Blinds