Companies that will buy the solar Federal ITC...

[David Pond]

Hi -

My company sells residential solar in California. We have numerous customers who sign up on the PACE programs, but who cannot take advantage of the Federal Income Tax Credit. I've heard the Federal ITC can be sold. I'd like to find a company that buys them to help those homeowners sell their credit.

Can anyone point me in the right direction to find companies who buy those credits?

Ty,

Dave

[inetdog]

Hi -

My company sells residential solar in California. We have numerous customers who sign up on the PACE programs, but who cannot take advantage of the Federal Income Tax Credit. I've heard the Federal ITC can be sold. I'd like to find a company that buys them to help those homeowners sell their credit.

Can anyone point me in the right direction to find companies who buy those credits?

Ty,

Dave

I do not think that the tax credit can be sold in the same way that SRECs can be sold on an open market.

What some companies do with their pay as you go or prepaid lease plans is since they officially own the equipment until the end of the lease term, they are able to take the tax credit for the company and reduce the price to the user by a corresponding amount.
The tax credit goes with the ownership of the system and cannot be transferred separately AFAIK.
Disclaimer: IANATA. Nor do I play one on TV.

If, to take advantage of this and provide a service (read incentive) to your customers, your company decides to go into the leasing business, get real financial and legal advice first!

[J.P.M.]

Hi -

My company sells residential solar in California. We have numerous customers who sign up on the PACE programs, but who cannot take advantage of the Federal Income Tax Credit. I've heard the Federal ITC can be sold. I'd like to find a company that buys them to help those homeowners sell their credit.

Can anyone point me in the right direction to find companies who buy those credits?

Ty,

Dave

You heard wrong. The ITC goes with the tax return of the system owner. It cannot be sold. Check with a CPA familiar with solar ITC for confirmation.

[Living Large]

Hi -

My company sells residential solar in California. We have numerous customers who sign up on the PACE programs, but who cannot take advantage of the Federal Income Tax Credit. I've heard the Federal ITC can be sold. I'd like to find a company that buys them to help those homeowners sell their credit.

Can anyone point me in the right direction to find companies who buy those credits?

Ty,

Dave

It doesn't really make sense that the ITC would be transferable, from a logic standpoint (I wouldn't know what is actually the case). Where did you hear they could be sold?

FWIW, I couldn't use the FITC either, because I am retired and I don't pay federal taxes due to Bush's favorable treatment of cap gains and dividends.

[J.P.M.]

It doesn't really make sense that the ITC would be transferable, from a logic standpoint (I wouldn't know what is actually the case). Where did you hear they could be sold?

FWIW, I couldn't use the FITC either, because I am retired and I don't pay federal taxes due to Bush's favorable treatment of cap gains and dividends.

NOMB but - Got an std. IRA ? Roll enough of it into a Roth IRA to chew up the ITC. Just sayin'.