Tax credit

Two very important laws have gone into effect this past year that have an impact on VELUX products. On October 3, 2008, George W. Bush signed the Emergency Stabilization Act of 2009 that extended the federal income tax credit available for solar-powered energy systems and solar water heating systems. In addition, it expanded the qualifying product requirements. On February 17, 2009, President Barack Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA), which removed a $2,000 cap on the tax credit for solar products. The net af fect of these two bills is a 30-percent tax credit on the purchase and installation of residential solar water heating, photovoltaic equipment, and fuel cell property, with no cap on the amount of the credit. The tax credit applies to all qualifying property installed and placed in service, on or between January 1, 2009 and December 31, 2016.

Under these new laws, the DSF solar battery Lightblock blinds qualifies as "photovoltaic property" and all VELUX solar collectors and solar water heating systems qualifies as "solar water heating property". The income tax credit will also apply to all solar battery powered A21 blinds when they become available.

To qualify for the credit the customer will need their receipt of the cost of the product including installation, the date is was placed in service, and the manufacturers certification statement which is available here. The tax credit is a direct debit of a taxpayers total tax liability.