Solar Panel Store Blog — Solar Systems
Act fast! A Federal Solar Tax Credit Update and ReminderCosts of solar electric systems have dropped dramatically over the past few years, but utility rebates, and incentives like the Federal Tax Credit can greatly increase your solar systems ROI. If you want to take advantage of the current 30% Federal Tax Credit (also known as ITC, or Investment Tax Credit), now is the time to start or complete your solar and battery projects. To be eligible for the tax credit, your solar project should be fully installed and paid for in 2019.
Systems completed in 2020 will be eligible for 26% deduction of the cost of the system from federal taxes, down to 22% in 2020, and unfortunately right now it looks like 2022 and beyond, only owners of commercial solar PV systems will be eligible for a 10% tax credit, and residential owners will not be eligible for any tax credits.
One of our favorite websites for federal and local rebate programs and tax credit updates is DSIREUSA.org.
- Loren Geist
- Tags: Solar Incentives Solar Panel Rebates Solar Systems Tax Credit