We have all heard about tax credits for putting solar on our home but what about for our boat? Sure, why not?
The US Federal Government offers a solar energy tax credit, applicable to your second home. If you have a head and galley onboard and your boat is docked in the United States, your boat qualifies as a second home. This tax credit,extended to December 31, 2019, is a 30% credit on qualified expenditures to purchase and install solar panels placed in service after 2008. This credit can be retroactive – as long as the solar system was placed into service after January 1, 2006.
The Department of Energy website gives a simplified description of the energy tax credit: http://energy.gov/savings/residential-renewable-energy-tax-credit. The actual IRS form is easy to fill out: http://www.irs.gov/pub/irs-pdf/f5695.pdf. It may also worth investigating your state government solar tax credit.
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Thomas Trimmer has been cruising with his Ericson 38 sailboat on the Great Lakes for over 20 years. He has pioneered the use of solar energy for wilderness cruising. He is continually designing and building equipment to simplify and enhance the cruising experience.