Have you heard of the ITC (Investment Tax Credit) that you can receive on your solar instillations?
If you haven’t, no worries! Check out how you can use your ITC for Solar Repairs, upgrades, & even new additions to your existing solar energy system!
What exactly is the ITC?
To encourage Americans to use solar power, the EPA and the Department of Energy offer tax credits for solar-powered systems. The investment tax credit (ITC), also known as the federal solar tax credit, lets residential homeowners OR commercial property owners deduct 26% of the cost of installing a solar energy system from your federal taxes. Plus, there is NO cap on its value. As long as you OWN your solar energy system, you are eligible for the solar investment tax credit.
Does my Solar Repair qualify for the ITC?
Yes! You will absolutely qualify for the ITC even if you are just simply doing a repair to your system! As long as you OWN you panels, you qualify!
What else qualifies for the ITC?
Taxpayers who upgrade their homes to make use of renewable energy are eligible for a ton of tax breaks! Believe it or not, there are many different things that go hand in hand with supporting your energy efficient home.
Sometimes to support your new energy efficient equipment, some upgrades to your home have to be made. Roofing, insulation, & even exterior doors, windows & skylights can qualify for tax credit. Another potential deduction would be specialized shingles designed to improve the efficiency of the solar panels.
Not to mention, if you are looking to upgrade your solar energy system by adding EV chargers or batteries, you will qualify for the ITC. Solar powered water heaters that are used inside the home and are at least half of the home’s water-heating capacity qualify for the ITC as well!
How do I Get Started?