Bright Ideas, Bigger Savings: Claiming Tax Rebates on Solar Skylights
- josh38385
- Jul 24
- 1 min read
Yes, federal tax credits are available for installing solar-powered skylights and solar-powered shades, provided they meet specific eligibility criteria.
Federal Tax Credit Overview
Under the Inflation Reduction Act of 2022, homeowners can claim a 30% federal tax credit for qualifying solar energy systems, including solar-powered skylights and solar-powered shades, installed between January 1, 2023, and December 31, 2032. This credit applies to both the cost of the products and their installation.
Eligible Products
To qualify for the tax credit, the products must be considered "solar electric property." For instance, VELUX's solar-powered skylights and solar-powered shades are eligible for this credit. Similarly, Solatube's solar-powered daylighting systems and solar-powered attic fans qualify.
Claiming the Tax Credit
To claim the credit:
Purchase and Install Eligible Products: Ensure the products meet the "solar electric property" criteria.
Retain Documentation: Keep receipts for the total cost, including both product and installation, and obtain a Manufacturer’s Certification Statement.
File IRS Form 5695: Submit this form with your tax return to claim the credit.
Important Considerations
Primary Residence Requirement: The credit is available only for improvements made to your primary residence.
Annual Credit Limits: While the solar energy systems qualify for a 30% credit, other energy-efficient improvements have annual caps.
Professional Installation: It's advisable to have these systems installed by professionals to ensure eligibility and optimal performance.
