Community solar investment tax credit

asked 2017-05-03 22:07:14 -0500

I live in Florida. We are looking at buying panels for a community solar project in Vermont. The immediate questions are:

  1. As the owners of the panels, we are told we are eligible for the ITC. I have found info that suggests both yes and no.

  2. The proposal is to send a check for our portion of the revenue produced directly to our electric company in Florida. The purchased panels are sized to NOT exceed our yearly expenditure for electricity in Florida. Is this money considered taxable?

Thanks

Greg

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