Designed for both commercial and residential customers, the Investment Tax Credit (ITC) is a federal solar incentive that makes installing photovoltaic (PV) panels far more affordable than it already is.
In fact, the ITC can make your PV system up to 30% cheaper. And you can also use this generous incentive to help cover the cost of related green investments like on-site solar battery storage.
This is how the current solar Investment Tax Credit incentive works:
Note that the Investment Tax Credit is much better than a standard deduction that simply reduces your taxable income. Instead, it is a true credit that you can use to pay off your tax bill for that calendar year.
However, time is running out to claim the full 30% credit under the ITC program.
Like all incentives, the ITC was never meant to be permanent. Instead, it was designed to help boost adoption until solar reaches a critical mass.
In this regard, the program has been wildly successful.
Since launching in 2006, the Investment Tax Credit has helped the US solar industry enjoy an average annual growth rate of 52% (or roughly 10,000% cumulative growth overall).
The ITC was initially supposed to phase out starting in 2016. But in 2015, Congress voted to extend the program under a slightly revised schedule.
Under the new guidelines:
If you’re thinking about installing PV panels and/or on-site battery storage, now is the time to act. The federal government is prepared to partially finance your green investment, making it easier to go solar, save money and help the planet – all for a fraction of what it would normally cost.
Let us help you apply for the Solar Investment Tax Credit before the program is downgraded or expires forever.
Let’s discuss the Federal government's tax advantage using section 179 bonus depreciation and write off another 50% or more of the system the 1st year!
Some businesses have saved millions in operational costs by adding solar & solar battery systems.
To get started, schedule a free consultation with our green energy experts today.
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