The Solar Investment Tax Credit (“ITC”) is a 30 percent federal tax credit for solar systems on residential and commercial properties. The commercial ITC can be used for commercial and residential sized projects.
The residential ITC can be used for residential sized projects. The credit is applied to reduce the income taxes that businesses and homes would pay annually. When homeowners purchase solar systems outright and have them installed on their homes, they can apply the credit.
Under current federal law, the ITC is valid in diminishing amounts until 2023. We're happy to chat with you about current credit rates. Give us a call! 719-784-3603