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We strive to innovate for a sustainable future

Understanding Solar Investment Tax Credit

I’m sure you’ve heard a lot about Investment Tax Credit for Solar


But what is the ITC? In effect, it’s really simple.


When you go solar, the federal government gives you a rebate on your taxes, in exchange for 26% of the value of your solar system.


Keep in mind, the tax credit is stepping down, so that 26% is just for 2020 and 2021, it drops to 22%. That’s why you want to go solar as soon as possible because, by 2022, the tax credit is going to zero.


So this is a huge part of the value proposition of solar. If you go solar, and your system costs $30,000, as an example, now, of course, you’re likely financing that so you don’t have to come out of pocket with any money…but you still get to keep 26% of that $30,000 solar system.


So this is really important. The way it’s gonna work is when you file your taxes at the end of the year, you’re gonna include the cost of your solar system, and the government is simply gonna send you a check for THAT amount.


That’s why you wanna go solar today and you wanna take advantage of the generous federal subsidies we have to support clean energy and save money as consumers.


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Copyright @ GoLocalSolar 2021

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Copyright @ GoLocalSolar 2021

All Rights Reserved