Power Systems Division
SunWize is a solar energy company specializing in the design and installation of residential and commercial grid-tied solar electric systems in California and Oregon. Outside these regions, home and business owners are served by a nationwide network of SunWize Independent Installers.
California Contractors
License No. 890619
Irvine Office
43 Corporate Park, Suite 202
Irvine, CA 92606
Ph: 949-417-0750
Fax: 949-417-0775
email: systemsinfo@sunwize.com
Palm Desert Office
34330 Gateway Drive, Suite 100
Palm Desert, CA 92211
Ph: 760-360-1620
Fax: 760-360-1357
Rancho Cucamonga Office
8830 Rochester Ave., Suite 100
Rancho Cucamonga, CA 91730
Ph: 909-484-5474
Fax: 909-984-5721
San Jose Office
111 W. St. John Street, Suite 1200
San Jose, CA 95113
Ph: 408-510-5099
Willamette Valley
Oregon Office
1337 Main Street
Philomath, OR 97370
Ph: 541-929-9999
Fax: 541-929-8377
Oregon Contractors
License No. 186663
A Solar System for Your Home or Business is More Affordable Now than Ever!
Solar incentives reduce the cost of your system by up to 45%*
On Friday, October 3rd, Congress passed and President Bush signed into law the Economic Stabilization Act of 2008, which included the long awaited 8 year extension of the solar investment tax credit. Of major significance, the act also lifted the $2000 cap on the tax credit for residential systems. Now, both commercial and residential systems will be eligible for a 30% tax credit. Effective January 1st 2009, the impact of the law will be stable, rapid growth for the industry and a significant increase in the affordability and financial return of solar for homeowners, making it one of the safest and best investments available today.
FAQs About Changes to the Investment Tax Credit for Solar Projects
The following information is intended as general guidelines and not authoritative advice. Consult a tax professional for advice on how the ITC applies to specific situations.
When will the new ITC be in effect?
The new ITC will apply to projects placed into service between January 1, 2009 and December 31, 2016. The new rules for the ITC will not be retroactive, so the restrictions on residential installations will remain in effect through 2008.
How did the residential ITC change?
Homeowners will be able to claim the full 30 percent of the cost of a solar installation as a tax credit; the $2,000-cap will no longer apply.
How did the commercial ITC change?
Utilities—in addition to all other businesses—will be eligible to claim the 30 percent ITC.
What happens if a homeowner can’t use the full credit in the year of installation?
Any unused portion of the residential ITC can be carried into future years.
How does the alternative minimum tax (AMT) affect the ITC?
Tax payers who claim the ITC should no longer be penalized by the AMT calculations, so AMT filers should be able to claim the full ITC.
Are there size limits on projects eligible for the ITC?
No, projects of any size or cost are eligible.
Is the funding for the ITC limited?
No, there are no limits on the number of taxpayers that can claim the ITC.
Have the accelerated depreciation rules for commercial projects changed?
Partly. Commercial projects are still classified as 5-year property under the modified accelerated cost recovery system (MACRS). However, the 50 percent ‘bonus depreciation’ for 2008 projects is set to expire.
Can members of a homeowners association (HOA) claim the ITC for an HOA-owned system?
Yes, members of the HOA are able to claim the residential ITC in proportion to their share of the HOA’s expenses; typically a homeowner’s monthly HOA payment should be directly related to their share of the HOA’s expenses.
*depending on state, utility, and other rebates and incentives
