Question about solar tax credits for low income households that don't pay taxes
Hello, we're interested in purchasing some solar panels this year and have gone through the estimate process with a local contracter. We live in upstate NY and qualify for the Affordable Incentive with our income. However, our income is low enough that with our two children we do not pay any taxes. As I understand, this means we can't take advantage of any credits above the Affordable Incentive. I have a friend who went through SolarCity on a lease, and he said the credit is good for 5 years. Once my wife goes back to work our income will be high enough that we start paying taxes again. Is the 5 year window true? And if so, is it also true for people purchasing panels, not just leasing them? We're still likely to go through with the panels because we'll be in this home for the duration and I believe electricity rates will only rise going forward, but any ability to take advantage of incentives would be welcomed. Thank you.
[visit reddit] [comments] http://ift.tt/2GJ6Btz
Comments
Post a Comment