I am planning to get solar systems installed at my business as well as home. I do understand that currently the federal tax credit is 30% which will be dropping to 26% in 2020. Since it is late 2019, and since I still have not started permit process yet, chances are we may not get the system installed / turned on by Dec 31st.
- What happens if the installation is not completed by Dec 31st. Say total project cost is $40k and I paid $30k till Dec 31st. Do I get 30% credit on money spent ($30k) and 26% on rest. Since the system is turned on, do I get 26% on total cost ($40k). Or since I started the project in 2019, I get 30% of the total $40k. An installer told me that as long as I put down a deposit of 10% with them, I qualify for full 30% on the entire cost.
- What if my design that I signed up for is say 20KW and after I start the project, I expand it to 40KW system?
Thanks in advance for any inputs.
- What happens if the installation is not completed by Dec 31st. Say total project cost is $40k and I paid $30k till Dec 31st. Do I get 30% credit on money spent ($30k) and 26% on rest. Since the system is turned on, do I get 26% on total cost ($40k). Or since I started the project in 2019, I get 30% of the total $40k. An installer told me that as long as I put down a deposit of 10% with them, I qualify for full 30% on the entire cost.
- What if my design that I signed up for is say 20KW and after I start the project, I expand it to 40KW system?
Thanks in advance for any inputs.
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