Tax Considerations for Solar Energy Projects

• Overview

Gain an understanding on the tax benefits for solar projects and how to qualify for credits.Many taxpayers are interested in promoting energy efficiency in both their business and personal lives as well as minimizing their tax liability whenever possible. The government encourages taxpayers to invest in energy efficient structures and devices through tax incentives. Unfortunately, the tax code is filled with confusing and overly technical sounding jargon that is difficult to understand. This topic will present numerous energy efficient tax incentives in a clear and concise way to help tax practitioners and tax payers alike understand the most common energy incentives available from the federal government and quantify the highest amount of tax savings possible.

Authors

Sean O'Leary, Cherry Bekaert Ronald G. Wainwright Jr., CPA, MST, Cherry Bekaert

Agenda

Section 179D Energy Efficient Commercial Building Deduction

• Eligible Buildings and Applicability

• How to Calculate the Deduction

• Taxpayers That Can Benefit

Section 45L New Energy Efficient Home Credit

• Eligible Buildings and Applicability

• How to Calculate the Credit and When It Can Be Claimed

• Taxpayers That Can Benefit

Solar Credits

• Eligible Equipment

• How to Calculate the Credit and the Depreciation on the Equipment

• Taxpayers That Can Benefit

Other Energy Credits

• Investment Tax Energy Credit

• Renewable Electricity Production Credit

• Non-Energy Business Credit

Claiming These Credits/Incentives in a Prior Tax Year

Historic Tax Credits

• Eligible Buildings and Applicability

• Interplay With Cost Segregation

• Interplay With Opportunity Zones