Solar Energy Credit (carryover period)

[Gloria]

Have any of you found a good source of reference for Solar Energy credits - as far as how many years the credit can be carried forward for residential credits (the credit is 30% of costs less other state rebates, etc)? I attended a solar energy presentation and in one of the slides they indicate that the credit must be used in two years and to contact a CPA with any questions.

I found an article prepared by the SEIA (Solar Energy Industries Association) regarding the Federal Solar Energy Incentives and Question 5 of their Frequently-Asked Questions (see bellow) indicates that the credit can be carried forward at least until tax year 2016. Do any of you have clients that will be taking the credit next year? If so, have you found any other references? You comments will be appreciated. Thanks.

Federal Solar Energy Incentives

FrequentlyAsked

Questions (FROM SEIA –SOLAR ENERGY INDUSTRIES ASSOCIATION).

5. If I don’t have enough tax liability to take the full tax credit in the year my system is installed, can I apply the remainder of the credit to the following years’ taxes?

Unused commercial credits can be carried forward for up to 20 years. Unused residential credits can be carried forward at least until tax year 2016 (the year the residential credit expires). It is unclear whether residential credits can be carried forward past 2016.

[kcjenkins]

Internal Revenue Code, § 48. ENERGY CREDIT.