Cohousing-L Mailing List: Re: DYI solution for tax credits?

[Jay KapLon (jay]

On Aug 13, 2022, at 10:53 PM, Sharon Villines <sharon [at] sharonvillines.com> 
wrote:
> 
> I think the tax credits have to go to a non-profit organization, a 501c3. 
> One that doesn’t serve itself, but  exists for the good of others.
> 
> Sharon.
> 
>> On Aug 13, 2022, at 9:50 PM, David Mandel <dlmandel [at] gmail.com> wrote:
>> 
>> We're looking at installing solar generation on some of our roofs,

>> But as a homeowner association our income tax burden is negligible.

I don’t have a detailed understanding of the new federal legislation yet, but 
someone here who works in the solar industry said that under the new act you 
can get the credit back as a payment. There is also something in there about 
being able to sell the credit. She says that, unlike the old rules, one of 
those would allow a community that has little or no tax burden to make use of 
the new 30% (or more) credit and own the panels. (That said, be sure you are 
ready for owning and maintaining the panels vs. ‘paying‘ someone else to own 
them and sell you power.)

Key is look at details on of the new act as they are translated into English or 
at least into Accountant Speak.