Currently the government offers a 30% tax credit to incentivize homeowners to convert to solar. So if you invest in a renewable energy project, 30% of those costs will be reimbursed to you.
All homeowners who invest into renewable energy are eligible for this credit as long as they have taxable income. So the unemployed or those who have untaxable income, will not qualify for this credit.
Should you currently be unemployed but plan on getting back to work as soon as possible, you can "back-file" for this tax credit when you get back to work.
After solar is installed, you're eligible to file for the tax credit when you file your taxes the following year. You simply complete an IRS form (5695) and you'll receive your incentive in your tax return.
To learn more about this tax credit, click here.
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