Federal Investment Tax Credit (ITC)

What Are The Benefits of Solar Energy?

Federal Investment Tax Credit (ITC) Definition:

Commonly referred to as the solar tax credit, the ITC effectively reduces the total cost of your solar energy system by 30% with a credit to your federal taxes. It is regarded as the most significant financial incentive for solar in the U.S.

Breaking Down Federal Investment Tax Credit (ITC):

The ITC allows the owners of a rooftop solar system to deduct 30% of the entire cost of purchasing and installing a solar energy system from their federal taxes. This ITC applies to equally to residential and commercial systems through 2019. Starting in 2020 the percentage steps down to 26% and then again to 22% in 2021. After 2021, the residential percentage will be reduced to zero while the commercial percentage will drop to a permanent 10%.

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