DISCLAIMER: THE TAX CREDIT INFORMATION LISTED IS VALID ONLY FOR US RESIDENTS, AND IS GENERALLY VALID FOR RV’S THAT HAVE BEEN DEEMED AS A SECOND HOME FOR TAX PURPOSES. YOU SHOULD CONSULT YOUR ACCOUNT OR TAX ADVISOR TO CONFIRM YOU QUALIFY. LEARN MORE ABOUT THE RESIDENTIAL RENEWABLE ENERGY TAX CREDIT HERE

Can I apply for a tax credit against a Grid Point Enclosure?

Yes! If you meet the government’s requirements, every Grid Point enclosure will qualify for a full credit.

What Tax Credit(s) Are Applicable?

There are two.

Battery System Federal Tax Credit: In 2022 the Federal Government implemented a new battery system credit. Since each Grid Point box has lithium batteries and can be stored in the home, the entire enclosure is fully eligible. This Battery Credit is currently 30% of the purchase price of the entire system.

Solar Panel Federal Tax Credit: In 2005 the Energy Act Policy was implemented. Since each Grid Point box has a solar panel for charging, the entire system is fully eligible. This Battery Credit is currently 26% of the purchase price of the entire system.

You can use the credit once per household.

What Is The Solar Panel Federal Tax Credit?

The Solar Investment Tax Credit (commonly called the ITC) was a part of the Energy Policy Act of 2005, and was extended several times. It is now set to expire in 2024.

What Is The Battery System Federal Tax Credit?

The Government wants to encourage local energy storage to stabilize the US power grid. In 2022 they began offering a 30% tax credit for the purchase of a new system with batteries, or an expansion to an existing system with new batteries.

Can Both Credits Be Used?

Only one credit can be applied to one invoice/purchase, and each household can only use each credit once.

If you’ve already claimed the solar Panel credit, you can still claim the battery credit.

The Government assumes that battery storage added to an existing renewable energy system would be eligible for the same benefit as a new system. This is based on a precedent set by a 2012 private-letter ruling that allowed a wind farm owner to add energy storage to an existing wind farm and claim the tax benefit.

How Much Is Each Tax Credit?

The solar tax credit is 26% of the total price, and the battery tax credit is 30% of the total price. You can only use a credit once per purchase, but it applies to the entire Grid Point Enclosure price.

Remember it’s a tax credit, not a write-off! A tax credit is a dollar-for-dollar reduction of the income tax you owe. $1 credit = $1 less you pay in taxes. It’s that simple. Of course you have to owe taxes to claim the credit.

Example: If you purchased a Grid Point System this year for $8,500 and qualify for the battery credit, you would be owed about $2,550 for the 2023 tax year.

Please speak with your tax provider for more details.