Residential and commercial solar installers in the U.S. can benefit from a federal investment tax credit (ITC). On average, homeowners can save up to $9,000 on the cost of their solar energy system installations by qualifying for the ITC.
As the need for clean energy generation grows, the benefits of producing electricity via solar photovoltaic panels has helped assert solar power as a leader in the sector. The initiation of the Energy Policy Act of 2005, and its subsequent adaptation, has set the stage for hyper-growth within the energy industry on a national scale.
A taxpayer may claim a federal tax credit to have solar installed on the residence. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year for a total of 5 years.
Federal tax credit on solar energy systems
The home served by the system does not have to be the taxpayer’s principal residence.
These federal solar incentives make going solar more affordable than ever before. Make your move toward a lower energy bill today. Champion your community – for every family you help go solar through our referral program, you get paid.