UCF trains next generation for solar and energy jobs; via UCF.
The window to claim a 30% tax credit on your solar panel project is closing July 4th, which means you’ve got just one month left to safe harbor your project and preserve your eligibility – keep reading to find out how.
Under the IRS “safe harbor” rules, taxpayers can preserve their eligibility for certain incentives and credits by committing to a project before the incentive deadline expires, even if the project won’t be fully completed until months later. With just one month remaining before the solar tax credits expire, understanding how safe harbor works could mean the difference between thousands of dollars in tax savings and missing out entirely.
Those safe harbor rules are laid out fully in IRS Notice 2018-59, which lays out the full details of what’s allowed and what isn’t. As you read through it, pay close attention to section 3:
SECTION 3. METHODS FOR ESTABLISHING BEGINNING OF CONSTRUCTION
