How to claim the Federal 30% tax credit for installing solar

KEEP IN MIND: We are solar guys, not tax guys. We do not give tax advice, and anything you read on this page is merely one example of how someone might act. Please consult a tax professional before filing.

Now then, let’s get down to it. Here are the things you’ll need to get that sweet tax credit:

  • IRS Form 1040 for 2014
  • IRS Form 5695 for 2014
  • Instructions for both those forms (as of this writing, instructions for Form 5695 were in draft form only)
  • A pencil
  • Some snacks to keep your energy up… something not too greasy, though… wouldn’t want to smudge the forms… pretzels are always a nice choice
  • Some water, maybe, if your mouth gets dry from the pretzels
  • A calculator

Fill out your Form 1040 as you normally would. Stop when you get down to line 53, and move to Form 5695. Write or type your name in the space provided. We chose “Example Exampleson,” who hails from my longtime home state of Minnesota, dontcha know. He spent $25,000 to install a 5-kW solar panel system on his home, and entered that number in line 1 below:

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You can also see Utah's solar power information here