On May 18, 12:15*pm, (DA) wrote:
responding tohttp://www.homeownershub.com/maintenance/Solar-Systems-Entry-level-Mo...

DA wrote:
Finally, be aware that since 50% of US taxpayers pay NO income tax
at all, the big federal tax break may not apply, especially if the
'STANDARD DEDUCTION" *is more than the "PV cost"...

You make some great points but this may not be a concern at all. People
that pay no income tax at all have much more to worry about than
installing a PV system - raising and educating their children for example,
which is what the bulk of tax credits is intended for.

Also, $50K would be one hell of a standard deduction! Is there anyone NOT
itemizing at that level? And regardless, it's just a reason not to take a
standard deduction for that one year.


Andy has that part wrong too. It's a federal tax credit, which has
nothing
to do with standard or itemized deductions. The credit comes directly
off your total tax liability. So, if you install a $50K PV system,
you take
$15K off your total taxes. Meaning if you pay $15K a year or more in
taxes you get the full credit.