Is the Federal Tax Credit for Wind and Solar Power Refundable?


Quick Answer

Federal tax credits for wind and solar power are not refundable. They can only be offset against taxes payable by the taxpayer, according to the Internal Revenue Service.

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Full Answer

Section 48 of he Internal Revenue Code provides for an investment tax credit for wind and solar power expenditure, states the IRS. As of December 2015, the credits offered for wind power and solar power are due to expire at the end of 2016, explain the Solar Energy Industries Association and the American Wind Energy Association. Expenditure on approved solar systems is eligible for a 30 percent federal tax credit for the year in which the system is installed, notes TurboTax.

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