Solar Energy Credit for a Church

[Bud Randall]

Members of a partnership or S-Corp. want to finance for a Church, the installation of a solar energy system. They will maintain ownership--collect monthly cost of electrical energy used--provide maintenance--and have a repayment schedule for
the church on the net cost of installation after credits. New York State has NYSERDA incentive for not-for-profit organizations. Can the partnership or S-Corp. be eligible for the 30% Federal Tax Credit of Gross System Cost? This would be used to reduce the total cost for the church. If this is possible--what IRS Forms would be used? Thanks

[Golden Rocket]

General Business Credits

Look under the various forms which accumulate into the General Business Credit (Form 3800). There are dozens of different credits, which may include a credit for solar energy. I don't know whether Form 8835 would encompass this plan or not. A couple of notes:

1) Make sure the corp maintains ownership.
2) A General Business Credit must be passed through to the owners of the corp.