To promote the use of renewable energy among citizens, New Progressive Party representative Yashira Lebrón Rodríguez has filed House Bill 387 granting credit of up to $ 20,000 to anyone purchasing a renewable energy system for your home. .
“In Puerto Rico, government policy is to diversify electricity sources and energy technology infrastructure by reducing our dependence on fossil fuel energy sources, such as oil; reduce and stabilize our energy costs; controlling the volatility of electricity prices ”, declared the legislator.
The intent of this legislation is to amend the Internal Revenue Code for a New Puerto Rico to grant, once, a special deduction to individuals for purchasing renewable energy systems that are efficient and environmentally friendly for your home.
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Specifically, a deduction will be granted for the acquisition of all equipment or personal property, or a range thereof, that generate energy from renewable sources, such as: solar, wind, geothermal, ocean-thermal, hydro-electric or renewable fuels, with excluding fossil fuels, up to an amount of $ 20,000.00.
“Since current electricity costs in Puerto Rico are double the average costs in the rest of the United States of America and that the average Puerto Rican pays about 20 cents per kilowatt hour (kWh), it is essential to develop concrete strategies. self-executing that achieve the goal of developing the island socio-economically No doubt allowing Puerto Ricans to acquire the necessary equipment to have sustainable, efficient and environmentally friendly residential energy systems is a viable alternative to we have to sever the ailing and inefficient Electric Power Authority ”, added Lebrón Rodríguez.
As described in the legislative piece, any person who claims one or more of the allowable deductions under the new section must submit with their income tax return canceled checks, receipts, or statements proving the claimed deductions. However, the Secretary may, if he deems it relevant, exempt the taxpayer from this requirement for a particular tax year. The taxpayer must keep evidence of the deduction claimed under this paragraph for six years.