On October 3, 2008, President George W. Bush signed into law the Emergency Stabilization Act followed by President Barack Obama signing into law the American Recovery and Reinvestment Act of 2009 (ARRA) on February 17, 2009.
The combined effect of these two laws provides a 30% tax credit on both the purchase and installation of qualifying products in renewable technologies such as solar electric property, residential solar water heating, qualified small wind energy and qualified geothermal heat pump energy, among others.
Under these laws VELUX Solar Powered Fresh Air Skylights, VELUX Fresh Air Skylights with Go Solar and VELUX Fixed Skylights with Go Solar as well as VELUX residential rigid Sun Tunnel® with the solar night light, and VELUX Solar Powered Blinds qualify under “Solar Electric Property” expenditures when purchased and installed from January 1, 2009 through December 31, 2021.
|2009-2019||Save 30% federal tax credit|
|2020||Save 26% federal tax credit|
|2021-22||Save 26% federal tax credit|
NEWS BREAK: 26% Federal Solar Tax Credit has been extended through 2021 and 2022.