loader image
  • Want the IRS to pay for your Skylight upgrade?
Rick April 15, 2024 0 Comments

As 2023 tax season wraps up we wanted to share a gem of information that can help you get those solar shade’s cost covered by the government!

Velux created a wirelessly controlled shade system that at a touch of a button, allows you to open or close the shades for more or less light. The system does not require electricity to be ran to it since it’s a battery and solar powered system.
Since it’s a solar powered home improvement the IRS qualified Velux as a manufacturer that is eligible for a 30% tax credit!

Any skylight systems we install with the solar shade system between 2022-2032 can take advantage of this credit.

When purchased and installed between January 1, 2022 through December 31, 2034, certain VELUX products qualify for the tax credit under “Solar Electric Property” expenditures. These products include VELUX Solar Powered “Fresh Air” Skylights and other eligible VELUX Skylights with solar-powered shades, as well as VELUX Residential Rigid Sun Tunnel Skylights installed with the Solar Night Light.

2022–2032: Save 30% with the Federal tax credit
2033: Save 26% with the Federal tax credit
2034: Save 22% with the Federal tax credit
This tax credit is a direct debit of the taxpayer’s total tax What do I need to do? liability.
For more information visit veluxusa.com/go-solar

Here’s Velux’s Manufacturers Certification Statement PDF.
Fill this out and attach to our invoice to store with your tax paperwork.

If you’re using a system like Turbotax, search for “Residential Energy Credits” which is form 5695.
Here’s a link to form 5695

Of course, consult a tax account, we are Home Exterior Specialists. Taxes, not so much. I can say I was initially overwhelmed by the form, but made sense when I read it slowly. How I filled out form 5695 for the solar credit skylight was by filling in line 1 for “Qualified solar electric property cost”
then filling out 6a which was the total of all the prior options. I only had the skylight to take credit for.
6B is a calculation to get you your 30% value.
I ignored 7a-11 since it didnt apply to me.
12 is for prior year carry over (which I didn’t have)
13 is a total of it all.
The rest of the steps TurboTax did for me automatically since it didn’t apply to me since I only was doingf the skylight setup.

According to section 25d https://www.law.cornell.edu/uscode/text/26/25D there is no cap on what you can write off for the solar electric property cost with skylights.

So with my interpretation and what others have done. I put the total cost for my skylight, install and solar shades. That 30% tax credit sure did feel amazing when I saw my total go down.

To learn more about our Velux solutions, click here!

Contact Us!