Did you know you can save thousands on your solar system?
Valuable tax incentives have driven solar to an all-time high adoption rate across the world. A 30% federal tax credit is available for consumers for the purchase and installation of a solar system. Current tax credits include both solar photovoltaic (PV) and solar hot water heating solutions as well as many other renewable energy technologies.
In December 2015, the Consolidated Appropriations Act extended the 30% credit for residential and commercial solar installations through the end of 2021. They amended this by implementing a gradual step-down of the value of the tax credit as follows:
- 30% for systems under construction by 12/31/2019
- 26% for systems under construction after 12/31/2019 and before 01/01/2021
- 22% for systems under construction after 12/31/2020 and before 01/01/2022
Business owned systems may also be eligible for MACRS 5-year Accelerated Depreciation.