On October 3, 2008, President George W. Bush signed into law the Emergency Stabilization Act followed by President Barack Obama signing into law the American Recovery and Reinvestment Act of 2009 (ARRA) on February 17, 2009. On August 16, 2022, President Joe Biden signed into law the Inflation Reduction Act of 2022 which includes clean energy tax credits.
The combined effect of these laws provides a 30% tax credit* on both the purchase and installation of qualifying products in renewable technologies such as solar electric property, electric vehicles, solar panels, heat pumps and other energy-efficient home improvements.
Under these laws VELUX Solar Powered “Fresh Air” Skylights and other eligible VELUX Skylights with Go Solar, as well as VELUX Residential Rigid Sun Tunnels® with the Solar Night Light and VELUX Solar Powered Blinds qualify under “Solar Electric Property” expenditures when purchased and installed from January 1, 2022 through December 31, 2034.
|2022–2032||Save 30% Federal Tax Credit|
|2033||Save 30% Federal Tax Credit|
|2034||Save 22% Federal Tax Credit|
This tax credit is a direct debit of the taxpayers total tax liability. For more information visit veluxusa.com/go-solar
What to do:
When it is tax time: Fill out IRS Tax form 5695 and submit it with your taxes. Enter this tax credit off of form 5695 on your 1040 form.
1. IRS Notice 2009-41 suggests the taxpayer is not required to attach this certification statement to their tax return. However, the taxpayer should retain this certification as part of their tax records.
2. As in all tax matters, the taxpayer is advised to consult their tax professional. VELUX America LLC and Synergy Skylights assume no liability regarding the homeowner’s ability to obtain tax credits.