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What is a tax credit?

So long as you owe taxes, dollar for dollar you will owe that much less when taxes come due.

 

 

This credit can also be applied if you bundle a roof or other required electrical upgrades along with solar, speak to a rep or continue reading for more information.

See if you qualify

Not only have the tax incentives been extended, they have been boosted to 30% and all the way till 2032. That means you get the latest technology on the market for the best deal to date. It's important to note that not everyone may qualify. 

What else can you claim 

• Solar equipment
• Solar consultation fees
• Solar installation fees
• Shipping fees
• Machines and tools required or rented
• All materials
• Permitting fees
• Required electrical upgrades
• Required roofing repairs or complete new roof

How to claim your tax credit.

What exactly is this tax incentive?

Previously known as the Federal Incentive Tax Credit or ITC, this government program is a credit that can be claimed on your Federal taxes. When you go solar, you can apply that credit towards your taxes for the year of installation or the following. If there is any left over credit it may be rolled over into the next tax year. We know it can be a bit hard to understand and we recommend you seek advice from your tax specialist. We can also tell you that this is not a tax rebate, which means if you don't owe taxes this program will not apply to you. 
 

The federal solar tax credit was just raised to 30% from 26%

The government has extended this program through 2034 and gives you 30% of the total cost of going solar back in tax credit. It is important to note that this program may not be available to everyone is subject to change.

This means that your solar project would have to have been completed by 2033. It's very important to note that in 2033, the solar tax credit will be lowered to 26% and by 2034 it will be reduced to 22% before expiring at the end of the year.

How do I know if I qualify

The requirements are:

1. You installed residential solar between January 1, 2017 and December 31, 2034
2. You are not leasing your panels, so you either purchased the panels outright or through a loan agreement.

3. You are a US tax payer

After your renewable energy system has been installed you will file Form 5695 on your upcoming tax return. It's a pretty straight forward document where you just let the federal government know how much you spent on your system.

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