What is the Solar Tax Credit?
The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 30 percent of the total cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value.
Do I Qualify for the Solar Tax Credit?
With your solar energy system, you are eligible for the solar tax credit. In a situation where you don’t have enough tax liability to claim the entire credit in one year, you can “roll over” the remaining credit amount into future years for as long as the tax credit is in effect.
What this means for you.
As a hardworking homeowner, the solar tax credit allows you to significantly reduce your yearly tax liability, putting your hard earned money back in your wallet and offsetting the cost of your solar energy system. Our partners here at Three Solar Estimates assist you every step of the way so you can take advantage of every last dollar.