Federal Tax Credit
What is the ITC?
IES The Solar Investment Tax Credit (ITC) is a dollar-for-dollar federal income tax credit, which can be applied to either residential or commercial projects.
Originally established by the Energy Policy Act of 2005, it has been extended several times due to its tremendous success, mostly by financial investment firms.
IES The Solar Investment Tax Credit (ITC) is a dollar-for-dollar federal income tax credit, which can be applied to either residential or commercial projects.
Originally established by the Energy Policy Act of 2005, it has been extended several times due to its tremendous success, mostly by financial investment firms.
IES The Solar Investment Tax Credit (ITC) is a dollar-for-dollar federal income tax credit, which can be applied to either residential or commercial projects.
Originally established by the Energy Policy Act of 2005, it has been extended several times due to its tremendous success, mostly by financial investment firms.
Most recently extended in December of 2020, the ITC is currently 30%. This means 30% of the total cost of your solar PV systems can be directly deducted from your owed taxes.
Most recently extended in December of 2020, the ITC is currently 30%. This means 30% of the total cost of your solar PV systems can be directly deducted from your owed taxes.
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Residential property, you or your accountant must fill out IRS Form 5695.
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For businesses, it’s IRS Form 5695.
The ITC will continue to be 30% until 2022, then 22% in 2023. In 2022, it will be 10% for commercial projects only.
Securing your energy with solar can save you money now and in the future.
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