SOLAR ROOFTOP SYSTEMS in Puerto Rico qualify for investment tax credits and accelerated 5-year depreciation if owned by a US partnership with all US corporations or citizens as partners, the IRS ruled.

This is the third such ruling the IRS has issued involving renewable energy facilities in Puerto Rico.

The US tax code says equipment used in a US possession does not qualify for these tax benefits unless it is owned entirely by US corporations or citizens. The ruling is Private Letter Ruling 201426013. The IRS made it public in late June.