Energy Savings Tax Credit

AJ Register

Program Type	Tax Incentive
Technologies	Solar Powered Roof Vent or Fans
Amount	One-half of the amount paid for labor and materials for the installation of a solar powered roof vent or fan, or $1000
Required Documentation	The installation date(s), proof of your costs for the installation of a solar powered roof vent or fan, and a list of the persons or corporation that supplied labor or materials for the installation of the solar powered roof vent or fan
Official Web Site	http://www.in.gov/dor/reference/files/it40-annotated.pdf

The state of Indiana offers its residents a significant tax deduction on full-year residential income taxes for the installation of energy saving solar powered roof vents and fans. This incentive is offered through federal tax breaks that encourage residents to jump on the green bandwagon, and upgrade old roof venting and fan systems for virtually the same price as ones that are inefficient and not powered by renewable solar energy sources.

Roof vents and fans are basically there to do exactly what their name would imply, vent or fan large empty spaces in attics that in the summer need to breathe to reduce cooling and air conditioning costs, and in the winter need to be contained to keep heat inside of the building helping cut back on expensive heating costs. Since there are solar alternatives to these critical components of a home, the federal government offers this program to write off half the cost of installing these vent/fanning systems and further reduce the consumption of precious non-renewable energy.

To be eligible for this tax deduction, you must be the owner or leaser of the building you are going to install the solar powered vent or fan, you must provide documentation of the installation date(s), and provide documentation of the cost of materials, labor, person’s or corporation responsible for purchasing the materials and performing installation, and enter 6 2 3 on Schedule 2 under line 11 of the IT-40 if claiming this deduction.