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

[Sharon Villines (sharon]

> On Aug 14, 2022, at 3:21 PM, Jay KapLon <jay [at] kaplon.org> wrote:
> 
> 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.
> 
> 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.)

I was responding to the first question about contributing or selling the 
credits -- non-profit organizations and tax credits — I’ve forgotten exactly 
what it meant. 

The other responses following mine were accurate as ways to pass the credits to 
home owners since the community as a whole doesn’t own the units that are 
benefiting from the solar panels.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org