Installing Solar Skylights & Receiving The Solar Tax Credit

Skylights can be a beautiful addition to any home. Solar powered skylights in particular offer a variety of unique benefits to homeowners.  A solar skylight from Stockmohr will not only add value and style to your home, but they will also make you eligible for the Federal solar tax credit! 

About Solar Powered Skylights 

Stockmohr is proud to install Velux Solar Powered Skylights. Skylights on their own can dramatically transform the atmosphere in a room. However, these particular skylights have many additional features that truly make them worth the cost. These Velux skylights are completely solar powered. The solar panel on each skylight captures all available sunlight and turns it into energy, which is then stored inside a concealed battery. The battery allows you to open and close your skylights with a remote, adding fresh air into the room at any time. They can be opened day or night, and the battery will charge even on cloudy days or in partial shade. These skylights are also equipped with a rain sensor. This means your skylights will close automatically if it detects any inclement weather, even when you aren’t home. 

Velux provides a ten year installation warranty on these skylights, as well as a No Leak Promise. They have three layers of protection that are guaranteed to keep water out of your home. They also come equipped with Neat® Glass. The smoothness of this unique material has a variety of benefits. Most notably, it reduces water spotting and helps water to disperse and evaporate more evenly. It will also help to reduce outside noise by up to 25% when compared to standard double pane skylights, and up to 50% when compared to a plastic skylight. Professional installation is recommended and is usually quick. It may take between a half day to three days for an installation depending on the conditions of your roof. 

The Federal Solar Tax Credit

The solar tax credit comes from the combined effects of both the Emergency Stabilization Act of 2008 and the American Recovery and Reinvestment Act of 2009. They established a 30% tax credit for those who purchase and install qualifying renewable technologies. Velux Solar Powered Skylights are considered to be an eligible solar property. This means if you purchase and install these solar skylights, 30% of the bill will be deducted from your taxes. . 

While it’s best to consult a tax professional about the specifics of your financial situation, here is a basic overview of how the tax credit works. First, the skylights must be installed in a residential location. Second, be sure to keep all of your receipts for both the product cost and installation cost. Finally, when it’s time to file your taxes, submit the necessary forms to the IRS with your tax return. The credit will take 30% of the expenses of your solar installation directly off the total of your tax bill. In some cases where solar expenses are high, the solar tax credit can wipe out a tax bill entirely! As an added bonus, any additional credit that is not used for your current tax bill will carry into the next year. 

It’s important to note that the solar tax credit will begin decreasing after 2019. There will only be a 26% credit in 2020, a 10% credit in 2022, and then no credit for residential solar installations in 2023 and beyond. If you’re looking to take advantage of this credit, consider installing your solar skylights sooner rather than later.

Call Stockmohr For Installation 

At Stockmohr, we replace hundreds of skylights every year, upgrading homes across WNY to solar powered skylights. If you’d like to add value and beauty to your home while also making yourself eligible for a tax credit, contact us today for a service estimate!