On October 3, 2008, President George W. Bush signed into law the Emergency Stabilization Act followed by President Barack Obama signing into law the American Recovery and Reinvestment Act of 2009 (ARRA) on February 17, 2009.
The combined effect of these two laws provides a 30% tax credit on both the purchase and installation of qualifying products in renewable technologies such as solar electric property, residential solar water heating, qualified small wind energy and qualified geothermal heat pump energy, among others.
Under these laws VELUX Solar Powered Fresh Air Skylights, VELUX Energy Performance Model Skylights, VELUX residential rigid Sun Tunnels with the solar night light, as well as VELUX Solar Powered Blinds qualify under “Solar Electric Property” expenditures when purchased and installed from January 1, 2009 through December 31, 2021.
|2009-2019||Save 30% federal tax credit|
|2020||Save 26% federal tax credit|
|2021||Save 22% federal tax credit|