Homeowners can save on the cost of solar installation by taking advantage of a 26% Investment Tax Credit (ITC) for solar energy.
Congress recently extended this tax credit, which allows a dollar-for-dollar reduction — equaling 26% of the costs of the system — in your federal income taxes. For example, a solar system that cost $10,000 may qualify for a $2,600 tax credit.
In great news for green, renewable energy, the U.S. Congress passed the Consolidated Appropriations Act in December 2015, extending the expiration date for the Investment Tax Credit for photovoltaic and solar thermal technologies, and introduced a gradual step down in the credit value for these technologies.
To take advantage of the full 26%, a system needs to be installed by the end of 2020.
Contact Sandbar Solar to learn more about the Investment Tax Credit for solar energy. And we recommend that you speak with your tax attorney to confirm eligibility for this credit.